Old Point Financial (NASDAQ:OPOF) Research Coverage Started at StockNews.com

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

Old Point Financial Stock Performance

NASDAQ OPOF opened at $14.78 on Wednesday. The stock has a market capitalization of $74.20 million, a price-to-earnings ratio of 9.60 and a beta of 0.20. Old Point Financial has a twelve month low of $14.00 and a twelve month high of $23.70. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.65. The stock has a 50-day moving average of $16.44 and a 200 day moving average of $16.96.

Old Point Financial (NASDAQ:OPOF) last released its quarterly earnings results on Tuesday, January 30th. The bank reported $0.29 earnings per share for the quarter. The company had revenue of $15.35 million during the quarter. Old Point Financial had a return on equity of 7.51% and a net margin of 9.60%.

Old Point Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Wednesday, March 6th were paid a dividend of $0.14 per share. The ex-dividend date was Tuesday, March 5th. This represents a $0.56 annualized dividend and a yield of 3.79%. Old Point Financial’s dividend payout ratio (DPR) is currently 36.36%.

Institutional Investors Weigh In On Old Point Financial

Several large investors have recently bought and sold shares of OPOF. BlackRock Inc. increased its stake in Old Point Financial by 306.3% during the 3rd quarter. BlackRock Inc. now owns 37,992 shares of the bank’s stock worth $1,053,000 after buying an additional 28,642 shares in the last quarter. Northern Trust Corp purchased a new stake in Old Point Financial during the 4th quarter worth approximately $259,000. Geode Capital Management LLC increased its stake in Old Point Financial by 16.5% during the 2nd quarter. Geode Capital Management LLC now owns 36,564 shares of the bank’s stock worth $634,000 after buying an additional 5,184 shares in the last quarter. Vanguard Group Inc. increased its stake in Old Point Financial by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 183,608 shares of the bank’s stock worth $3,292,000 after buying an additional 4,627 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Old Point Financial by 18.8% in the second quarter. Renaissance Technologies LLC now owns 27,135 shares of the bank’s stock valued at $471,000 after purchasing an additional 4,300 shares in the last quarter. 33.43% of the stock is currently owned by hedge funds and other 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 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.