Old Point Financial (NASDAQ:OPOF) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Old Point Financial (NASDAQ:OPOF) in a research note published on Wednesday. The brokerage issued a hold rating on the bank’s stock.

Old Point Financial Price Performance

OPOF opened at $14.55 on Wednesday. The stock has a market capitalization of $73.91 million, a P/E ratio of 11.55 and a beta of 0.29. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. Old Point Financial has a 12-month low of $13.49 and a 12-month high of $22.33. The stock has a 50-day moving average price of $14.65 and a 200-day moving average price of $16.35.

Old Point Financial (NASDAQ:OPOF) last released its quarterly earnings data on Tuesday, April 30th. The bank reported $0.34 EPS for the quarter. Old Point Financial had a return on equity of 6.11% and a net margin of 7.71%. The firm had revenue of $14.76 million for the quarter.

Old Point Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Wednesday, June 5th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date is Wednesday, June 5th. Old Point Financial’s payout ratio is 44.44%.

Insider Buying and Selling

In related news, major shareholder Pl Capital Advisors, Llc acquired 83,169 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was acquired at an average cost of $14.80 per share, for a total transaction of $1,230,901.20. Following the acquisition, the insider now owns 720,861 shares of the company’s stock, valued at $10,668,742.80. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have acquired 111,555 shares of company stock valued at $1,642,355 over the last ninety days. 21.11% of the stock is owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Old Point Financial stock. Empowered Funds LLC grew its holdings in Old Point Financial Co. (NASDAQ:OPOF) by 8.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,244 shares of the bank’s stock after purchasing an additional 1,225 shares during the period. Empowered Funds LLC owned about 0.32% of Old Point Financial worth $277,000 as of its most recent SEC filing. Institutional investors own 33.43% of the company’s stock.

Old Point Financial Company Profile

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.