Old Point Financial (OPOF) Downgraded to “Sell” at ValuEngine

ValuEngine cut shares of Old Point Financial (NASDAQ:OPOF) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.

Shares of Old Point Financial stock opened at $20.82 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.92 and a current ratio of 0.93. Old Point Financial has a 12 month low of $19.00 and a 12 month high of $31.50. The firm has a market capitalization of $110.93 million, a PE ratio of 21.62 and a beta of 0.43.

Old Point Financial (NASDAQ:OPOF) last issued its quarterly earnings data on Wednesday, October 24th. The bank reported $0.32 earnings per share for the quarter. Old Point Financial had a return on equity of 5.17% and a net margin of 1.26%. The business had revenue of $11.89 million for the quarter.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 28th. Investors of record on Tuesday, December 4th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, December 3rd.

A number of hedge funds and other institutional investors have recently modified their holdings of OPOF. Bank of America Corp DE increased its position in Old Point Financial by 57.5% in the 2nd quarter. Bank of America Corp DE now owns 5,929 shares of the bank’s stock worth $171,000 after buying an additional 2,165 shares during the period. Girard Partners LTD. bought a new position in Old Point Financial in the 3rd quarter worth approximately $359,000. Paloma Partners Management Co bought a new position in Old Point Financial in the 2nd quarter worth approximately $511,000. Dimensional Fund Advisors LP increased its position in Old Point Financial by 55.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 20,521 shares of the bank’s stock worth $592,000 after buying an additional 7,326 shares during the period. Finally, Penn Capital Management Co. Inc. increased its position in Old Point Financial by 7.1% in the 3rd quarter. Penn Capital Management Co. Inc. now owns 30,981 shares of the bank’s stock worth $926,000 after buying an additional 2,043 shares during the period. 33.80% of the stock is currently owned by institutional investors.

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, retail, and commercial customers. The company offers deposit products, including interest-bearing transaction accounts, money market deposit accounts, savings accounts, time deposits, and demand deposits.

See Also: Short Selling

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