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

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

Old Point Financial Price Performance

Shares of NASDAQ OPOF opened at $14.55 on Wednesday. The company has a market capitalization of $73.91 million, a price-to-earnings ratio of 11.55 and a beta of 0.29. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93. Old Point Financial has a 1-year low of $13.49 and a 1-year high of $22.33. The business has a 50-day moving average of $14.65 and a 200-day moving average of $16.35.

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

Old Point Financial Dividend Announcement

The firm also recently announced 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 Activity at Old Point Financial

In other news, major shareholder Pl Capital Advisors, Llc purchased 2,101 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were acquired at an average cost of $14.92 per share, with a total value of $31,346.92. Following the transaction, the insider now owns 625,221 shares in the company, valued at approximately $9,328,297.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have purchased 111,555 shares of company stock valued at $1,642,355 over the last ninety days. Corporate insiders own 21.11% of the company’s stock.

Institutional Investors Weigh In On Old Point Financial

An institutional investor recently raised its position in Old Point Financial stock. Empowered Funds LLC lifted its stake in shares of Old Point Financial Co. (NASDAQ:OPOF) by 8.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 about 0.32% of Old Point Financial worth $277,000 at the end of the most recent reporting period. 33.43% of the stock is currently owned by institutional investors and hedge funds.

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.