StockNews.com Initiates Coverage on Old Point Financial (NASDAQ:OPOF)

Research analysts at StockNews.com assumed coverage on shares of Old Point Financial (NASDAQ:OPOF) in a report released on Sunday. The firm set a “hold” rating on the bank’s stock.

Old Point Financial Price Performance

Shares of OPOF opened at $17.82 on Friday. The stock has a market capitalization of $90.53 million, a PE ratio of 14.14 and a beta of 0.29. The company has a 50 day moving average price of $17.63 and a 200-day moving average price of $16.13. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 0.91. Old Point Financial has a fifty-two week low of $13.49 and a fifty-two week high of $20.26.

Old Point Financial (NASDAQ:OPOF) last posted its earnings results on Thursday, July 25th. The bank reported $0.50 earnings per share for the quarter. Old Point Financial had a return on equity of 6.69% and a net margin of 8.41%. The company had revenue of $15.59 million during the quarter.

Insider Activity

In other news, major shareholder Pl Capital Advisors, Llc purchased 83,169 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were acquired at an average cost of $14.80 per share, with a total value of $1,230,901.20. Following the completion of the acquisition, the insider now owns 720,861 shares of the company’s stock, valued at $10,668,742.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders have bought 84,639 shares of company stock worth $1,258,154. Corporate insiders own 21.11% of the company’s stock.

Institutional Trading of Old Point Financial

A hedge fund recently raised its stake in Old Point Financial stock. PL Capital Advisors LLC boosted its position in shares of Old Point Financial Co. (NASDAQ:OPOF) by 19.2% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 720,861 shares of the bank’s stock after acquiring an additional 116,015 shares during the quarter. Old Point Financial comprises about 4.4% of PL Capital Advisors LLC’s portfolio, making the stock its 7th largest position. PL Capital Advisors LLC owned about 14.19% of Old Point Financial worth $10,575,000 at the end of the most recent reporting period. Hedge funds and other 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.