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

StockNews.com assumed coverage on shares of Old Point Financial (NASDAQ:OPOF) in a research report sent to investors on Tuesday. The brokerage issued a hold rating on the bank’s stock.

Old Point Financial Price Performance

Shares of NASDAQ:OPOF opened at $21.65 on Tuesday. The business’s fifty day moving average price is $19.33 and its two-hundred day moving average price is $17.35. The stock has a market cap of $109.94 million, a PE ratio of 13.33 and a beta of 0.29. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.92 and a current ratio of 0.92. Old Point Financial has a one year low of $13.49 and a one year high of $21.89.

Old Point Financial (NASDAQ:OPOF) last announced its earnings results on Thursday, October 24th. The bank reported $0.47 EPS for the quarter. The firm had revenue of $15.78 million for the quarter. Old Point Financial had a return on equity of 7.38% and a net margin of 9.47%.

Old Point Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Wednesday, December 4th. Old Point Financial’s dividend payout ratio (DPR) is 35.00%.

Institutional Trading of Old Point Financial

A number of hedge funds have recently added to or reduced their stakes in OPOF. PL Capital Advisors LLC boosted its stake in Old Point Financial by 19.2% in the 2nd quarter. PL Capital Advisors LLC now owns 720,861 shares of the bank’s stock worth $10,575,000 after buying an additional 116,015 shares during the last quarter. Eastern Bank acquired a new stake in Old Point Financial in the 3rd quarter worth about $57,000. Empowered Funds LLC boosted its stake in Old Point Financial by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock worth $356,000 after buying an additional 938 shares during the last quarter. Fourthstone LLC boosted its stake in Old Point Financial by 44.9% in the 3rd quarter. Fourthstone LLC now owns 81,594 shares of the bank’s stock worth $1,576,000 after buying an additional 25,273 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Old Point Financial by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock worth $874,000 after buying an additional 693 shares during the last quarter. 33.43% of the stock is 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.