Old Point Financial (NASDAQ:OPOF) Earns Hold Rating from Analysts at StockNews.com

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

Old Point Financial Stock Performance

NASDAQ OPOF opened at $16.35 on Friday. The stock has a fifty day simple moving average of $14.73 and a 200-day simple moving average of $15.98. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. Old Point Financial has a twelve month low of $13.49 and a twelve month high of $22.33. The stock has a market cap of $83.06 million, a PE ratio of 12.98 and a beta of 0.28.

Old Point Financial (NASDAQ:OPOF) last issued its earnings results on Tuesday, April 30th. The bank reported $0.34 earnings per share for the quarter. Old Point Financial had a net margin of 7.71% and a return on equity of 6.11%. The firm had revenue of $14.76 million for the quarter.

Old Point Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Wednesday, June 5th were issued a dividend of $0.14 per share. The ex-dividend date was Wednesday, June 5th. This represents a $0.56 annualized dividend and a yield of 3.43%. Old Point Financial’s dividend payout ratio is presently 44.44%.

Insider Activity at Old Point Financial

In related news, major shareholder Pl Capital Advisors, Llc bought 17,403 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were acquired at an average cost of $14.25 per share, with a total value of $247,992.75. Following the completion of the transaction, the insider now owns 622,249 shares of the company’s stock, valued at $8,867,048.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders bought 111,555 shares of company stock valued at $1,642,355. 21.11% of the stock is owned by insiders.

Institutional Investors Weigh In On Old Point Financial

An institutional investor recently raised its position in Old Point Financial stock. Empowered Funds LLC lifted its stake in shares of Old Point Financial Co. (NASDAQ:OPOF) by 8.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,244 shares of the bank’s stock after purchasing an additional 1,225 shares during the period. Empowered Funds LLC owned approximately 0.32% of Old Point Financial worth $277,000 at the end of the most recent reporting period. 33.43% of the stock is 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.