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

Equities researchers at StockNews.com began coverage on shares of Old Point Financial (NASDAQ:OPOF) in a research note issued on Monday. The firm set a “hold” rating on the bank’s stock.

Old Point Financial Stock Performance

Shares of NASDAQ OPOF opened at $17.15 on Monday. Old Point Financial has a one year low of $13.49 and a one year high of $20.26. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $17.91 and a 200 day simple moving average of $16.16. The firm has a market capitalization of $87.12 million, a price-to-earnings ratio of 13.61 and a beta of 0.29.

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

Hedge Funds Weigh In On Old Point Financial

A hedge fund recently raised its stake in Old Point Financial stock. Empowered Funds LLC raised its stake in shares of Old Point Financial Co. (NASDAQ:OPOF) by 8.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,244 shares of the bank’s stock after acquiring an additional 1,225 shares during the quarter. Empowered Funds LLC owned approximately 0.32% of Old Point Financial worth $277,000 as of its most recent filing with the SEC. 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.