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

Investment analysts at StockNews.com started coverage on shares of Old Point Financial (NASDAQ:OPOF) in a note issued to investors on Friday. The brokerage set a “hold” rating on the bank’s stock.

Old Point Financial Stock Performance

Shares of OPOF opened at $14.67 on Friday. The firm has a 50-day moving average price of $14.52 and a 200 day moving average price of $16.17. The firm has a market capitalization of $74.52 million, a PE ratio of 11.64 and a beta of 0.29. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. Old Point Financial has a 52-week low of $13.49 and a 52-week high of $22.33.

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

Insider Transactions at Old Point Financial

In related news, major shareholder Pl Capital Advisors, Llc purchased 2,101 shares of Old Point Financial stock in a transaction dated Friday, May 17th. The stock was acquired at an average cost of $14.92 per share, with a total value of $31,346.92. Following the completion of the transaction, the insider now directly owns 625,221 shares of the company’s stock, valued at $9,328,297.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased 111,555 shares of company stock valued at $1,642,355 over the last three months. 21.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Old Point Financial

A hedge fund recently raised its stake in Old Point Financial stock. Empowered Funds LLC increased its position in Old Point Financial Co. (NASDAQ:OPOF) by 8.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,244 shares of the bank’s stock after buying an additional 1,225 shares during the period. Empowered Funds LLC owned 0.32% of Old Point Financial worth $277,000 at the end of the most recent reporting period. 33.43% of the stock is 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.