Old Point Financial (NASDAQ:OPOF) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Old Point Financial Corporation (NASDAQ:OPOF) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $36.45 and traded as high as $41.35. Old Point Financial shares last traded at $40.63, with a volume of 22,818 shares traded.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Old Point Financial from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd.

Old Point Financial Stock Performance

The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.34. The firm has a market cap of $207.21 million, a price-to-earnings ratio of 23.90 and a beta of -0.32. The stock has a fifty day moving average price of $40.46 and a 200 day moving average price of $36.45.

Old Point Financial (NASDAQ:OPOF) last issued its quarterly earnings data on Wednesday, July 30th. The bank reported $0.43 EPS for the quarter. The business had revenue of $15.43 million for the quarter. Old Point Financial had a return on equity of 8.16% and a net margin of 10.12%.

Old Point Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.56 dividend on an annualized basis and a yield of 1.4%. Old Point Financial’s payout ratio is currently 32.94%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey acquired a new position in Old Point Financial during the 2nd quarter worth $36,000. Credit Industriel ET Commercial acquired a new position in Old Point Financial during the 2nd quarter worth $64,000. Bank of America Corp DE lifted its position in Old Point Financial by 4,637.8% during the 2nd quarter. Bank of America Corp DE now owns 1,753 shares of the bank’s stock worth $69,000 after acquiring an additional 1,716 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Old Point Financial in the second quarter worth $75,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Old Point Financial in the second quarter worth $83,000. Institutional investors and hedge funds own 33.43% of the company’s stock.

About Old Point Financial

Old Point Financial Corporation operates as the bank holding company for The Old Point National Bank of Phoebus that provides consumer, mortgage, and business banking services for individual and commercial customers in Virginia. It offers deposit products, including interest-bearing transaction accounts, money market deposit accounts, savings accounts, time deposits, and demand deposits.