ValuEngine Downgrades Old Point Financial Corporation (OPOF) to Hold

Old Point Financial Corporation (NASDAQ:OPOF) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Saturday.

Shares of Old Point Financial (NASDAQ:OPOF) opened at $27.78 on Friday. The firm has a market cap of $139.42, a P/E ratio of 38.58 and a beta of 0.12. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.46. Old Point Financial has a 1-year low of $20.45 and a 1-year high of $34.82.

Old Point Financial (NASDAQ:OPOF) last announced its quarterly earnings data on Wednesday, November 1st. The bank reported $0.15 earnings per share for the quarter. The firm had revenue of $11.09 million during the quarter. Old Point Financial had a net margin of 7.93% and a return on equity of 3.78%.

A number of large investors have recently bought and sold shares of the stock. State Street Corp bought a new stake in Old Point Financial during the 2nd quarter valued at $2,069,000. Northern Trust Corp bought a new stake in Old Point Financial during the 2nd quarter valued at $1,191,000. Vanguard Group Inc. raised its holdings in Old Point Financial by 117.3% during the 2nd quarter. Vanguard Group Inc. now owns 33,167 shares of the bank’s stock valued at $1,091,000 after buying an additional 17,905 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Old Point Financial during the 2nd quarter valued at $352,000. Finally, Wells Fargo & Company MN raised its holdings in Old Point Financial by 1,021,200.0% during the 3rd quarter. Wells Fargo & Company MN now owns 10,213 shares of the bank’s stock valued at $331,000 after buying an additional 10,212 shares during the last quarter. Institutional investors own 35.70% of the company’s stock.

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About Old Point Financial

Old Point Financial Corporation is a holding company that conducts all of its operations through two subsidiaries, The Old Point National Bank of Phoebus (the Bank) and Old Point Trust & Financial Services, N.A. (the Trust). The Company operates in three principal business segments: the Bank, the Trust and the Parent.

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