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

StockNews.com began coverage on shares of Old Point Financial (NASDAQ:OPOF) in a research note issued to investors on Wednesday morning. The brokerage issued a hold rating on the bank’s stock.

Old Point Financial Stock Up 0.6 %

OPOF stock opened at $14.70 on Wednesday. The stock has a fifty day moving average of $16.54 and a 200-day moving average of $17.00. Old Point Financial has a fifty-two week low of $14.00 and a fifty-two week high of $23.88. The company has a market capitalization of $74.09 million, a price-to-earnings ratio of 9.55 and a beta of 0.20. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.92 and a current ratio of 0.92.

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

Old Point Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders 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 3.81%. Old Point Financial’s dividend payout ratio is currently 36.36%.

Hedge Funds Weigh In On Old Point Financial

Several hedge funds have recently made changes to their positions in OPOF. Vanguard Group Inc. boosted its stake in Old Point Financial by 2.6% in 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 period. BlackRock Inc. boosted its position in shares of Old Point Financial by 306.3% in the third quarter. BlackRock Inc. now owns 37,992 shares of the bank’s stock valued at $1,053,000 after acquiring an additional 28,642 shares during the period. Geode Capital Management LLC grew its stake in Old Point Financial by 16.5% during the second quarter. Geode Capital Management LLC now owns 36,564 shares of the bank’s stock valued at $634,000 after acquiring an additional 5,184 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings in 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 acquiring an additional 1,344 shares during the period. Finally, State Street Corp lifted its stake in Old Point Financial by 10.6% in the 2nd quarter. State Street Corp now owns 22,076 shares of the bank’s stock worth $558,000 after purchasing an additional 2,122 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.