Old Point Financial Co. (NASDAQ:OPOF) Major Shareholder Buys $247,992.75 in Stock

Old Point Financial Co. (NASDAQ:OPOF) major shareholder Pl Capital Advisors, Llc acquired 17,403 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was purchased at an average price of $14.25 per share, for a total transaction of $247,992.75. Following the acquisition, the insider now directly owns 622,249 shares in the company, valued at approximately $8,867,048.25. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Old Point Financial Stock Up 4.7 %

Shares of NASDAQ:OPOF opened at $14.82 on Friday. Old Point Financial Co. has a 52-week low of $13.49 and a 52-week high of $22.33. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The business has a fifty day moving average of $15.35 and a two-hundred day moving average of $16.58. The stock has a market cap of $75.29 million, a P/E ratio of 11.76 and a beta of 0.27.

Old Point Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Wednesday, March 6th were issued a $0.14 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.56 annualized dividend and a yield of 3.78%. Old Point Financial’s payout ratio is 44.44%.

Institutional Trading of Old Point Financial

A hedge fund recently raised its stake in Old Point Financial stock. Empowered Funds LLC raised its holdings in Old Point Financial Co. (NASDAQ:OPOF) by 8.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,244 shares of the bank’s stock after purchasing an additional 1,225 shares during the quarter. Empowered Funds LLC owned 0.32% of Old Point Financial worth $277,000 as of its most recent SEC filing. 33.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Old Point Financial in a research note on Sunday. They set a “hold” rating for the company.

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.