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

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

Old Point Financial Stock Up 0.2 %

OPOF stock opened at $14.78 on Friday. The company has a market cap of $75.08 million, a price-to-earnings ratio of 11.73 and a beta of 0.28. The company has a fifty day moving average price of $14.56 and a 200 day moving average price of $16.05. 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 12 month low of $13.49 and a 12 month high of $22.33.

Old Point Financial (NASDAQ:OPOF) last announced 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 during the quarter.

Old Point Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Wednesday, June 5th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.79%. The ex-dividend date was Wednesday, June 5th. Old Point Financial’s payout ratio is 44.44%.

Insider Transactions at Old Point Financial

In other Old Point Financial news, major shareholder Pl Capital Advisors, Llc acquired 17,403 shares of the business’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 completion of the transaction, the insider now owns 622,249 shares of the company’s stock, valued at approximately $8,867,048.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have bought a total of 111,555 shares of company stock worth $1,642,355 over the last ninety days. 21.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Old Point Financial

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

About Old Point Financial

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.