Bridgeway Capital Management LLC Increases Position in Old Point Financial Co. (NASDAQ:OPOF)

Bridgeway Capital Management LLC grew its holdings in Old Point Financial Co. (NASDAQ:OPOF) by 1.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,951 shares of the bank’s stock after purchasing an additional 350 shares during the quarter. Bridgeway Capital Management LLC owned about 0.37% of Old Point Financial worth $494,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. PL Capital Advisors LLC lifted its position in Old Point Financial by 2,506.0% during the fourth quarter. PL Capital Advisors LLC now owns 18,785,638 shares of the bank’s stock worth $489,554,000 after buying an additional 18,064,777 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Old Point Financial by 18.1% in the 4th quarter. Renaissance Technologies LLC now owns 35,929 shares of the bank’s stock worth $936,000 after acquiring an additional 5,500 shares during the last quarter. WealthTrak Capital Management LLC purchased a new position in shares of Old Point Financial during the 4th quarter worth $47,000. Fourthstone LLC raised its holdings in shares of Old Point Financial by 322.4% during the 4th quarter. Fourthstone LLC now owns 344,620 shares of the bank’s stock worth $8,981,000 after acquiring an additional 263,026 shares during the period. Finally, OLD Point Trust & Financial Services N A boosted its position in shares of Old Point Financial by 1.1% during the 4th quarter. OLD Point Trust & Financial Services N A now owns 263,439 shares of the bank’s stock valued at $6,865,000 after acquiring an additional 2,901 shares during the last quarter. 33.43% of the stock is currently owned by institutional investors and hedge funds.

Old Point Financial Stock Down 0.6%

Shares of NASDAQ OPOF opened at $39.17 on Monday. The company has a market capitalization of $199.92 million, a P/E ratio of 20.84 and a beta of -0.33. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.92 and a quick ratio of 0.92. The company has a 50 day simple moving average of $34.73 and a 200-day simple moving average of $28.01. Old Point Financial Co. has a 1 year low of $13.70 and a 1 year high of $39.87.

Old Point Financial (NASDAQ:OPOF) last posted its earnings results on Wednesday, April 30th. The bank reported $0.39 earnings per share (EPS) for the quarter. Old Point Financial had a return on equity of 8.56% and a net margin of 11.08%. The company had revenue of $15.86 million during the quarter.

Old Point Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 5th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend was Wednesday, March 5th. Old Point Financial’s payout ratio is 28.57%.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Old Point Financial in a research note on Tuesday, April 15th. They set a “hold” rating on the stock.

Old Point Financial 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.