Old Point Financial (NASDAQ:OPOF) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Old Point Financial (NASDAQ:OPOF) in a report released on Tuesday morning. The firm issued a hold rating on the bank’s stock.

Old Point Financial Trading Up 1.8 %

Old Point Financial stock opened at $20.78 on Tuesday. The firm has a 50 day simple moving average of $19.33 and a 200-day simple moving average of $17.35. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $105.52 million, a PE ratio of 12.99 and a beta of 0.29. Old Point Financial has a 12-month low of $13.49 and a 12-month high of $21.89.

Old Point Financial (NASDAQ:OPOF) last issued its earnings results on Thursday, October 24th. The bank reported $0.47 earnings per share for the quarter. The firm had revenue of $15.78 million during the quarter. Old Point Financial had a net margin of 9.47% and a return on equity of 7.38%.

Old Point Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Wednesday, December 4th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Point Financial’s dividend payout ratio is 35.00%.

Hedge Funds Weigh In On Old Point Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Eastern Bank acquired a new position in Old Point Financial in the 3rd quarter worth approximately $57,000. Empowered Funds LLC boosted its stake in Old Point Financial by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock worth $356,000 after purchasing an additional 938 shares during the period. Geode Capital Management LLC boosted its stake in Old Point Financial by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock worth $874,000 after purchasing an additional 693 shares during the period. Fourthstone LLC boosted its stake in Old Point Financial by 44.9% in the 3rd quarter. Fourthstone LLC now owns 81,594 shares of the bank’s stock worth $1,576,000 after purchasing an additional 25,273 shares during the period. Finally, PL Capital Advisors LLC boosted its stake in Old Point Financial by 19.2% in the 2nd quarter. PL Capital Advisors LLC now owns 720,861 shares of the bank’s stock worth $10,575,000 after purchasing an additional 116,015 shares during the period. Institutional investors and hedge funds 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.