Old Point Financial (NASDAQ:OPOF) Coverage Initiated by Analysts at StockNews.com

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

Old Point Financial Price Performance

OPOF stock opened at $14.78 on Wednesday. The firm has a 50 day moving average of $16.44 and a 200-day moving average of $16.96. Old Point Financial has a 12-month low of $14.00 and a 12-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 company has a market cap of $74.20 million, a price-to-earnings ratio of 9.60 and a beta of 0.20.

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

Old Point Financial Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of 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 purchasing an additional 4,627 shares during the last quarter. Bridgeway Capital Management LLC raised its position in shares of Old Point Financial by 4.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 32,319 shares of the bank’s stock worth $573,000 after purchasing an additional 1,344 shares during the last quarter. Northern Trust Corp purchased a new stake in Old Point Financial in the 4th quarter worth approximately $259,000. Renaissance Technologies LLC grew its stake in Old Point Financial by 18.8% in the 2nd quarter. Renaissance Technologies LLC now owns 27,135 shares of the bank’s stock worth $471,000 after acquiring an additional 4,300 shares during the period. Finally, Geode Capital Management LLC grew its stake in Old Point Financial by 16.5% in the 2nd quarter. Geode Capital Management LLC now owns 36,564 shares of the bank’s stock worth $634,000 after acquiring an additional 5,184 shares during the period. 33.43% of the stock is currently 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.