Old Point Financial (NASDAQ:OPOF) Research Coverage Started at StockNews.com

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

Old Point Financial Stock Performance

Shares of OPOF stock opened at $19.25 on Friday. The business’s 50-day moving average price is $18.53 and its 200-day moving average price is $16.46. Old Point Financial has a 12 month low of $13.49 and a 12 month high of $20.26. The firm has a market capitalization of $97.71 million, a price-to-earnings ratio of 15.28 and a beta of 0.29. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36.

Old Point Financial (NASDAQ:OPOF) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $0.50 EPS for the quarter. Old Point Financial had a return on equity of 6.69% and a net margin of 8.41%. The firm had revenue of $15.59 million for the quarter.

Old Point Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Wednesday, September 4th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend was Wednesday, September 4th. Old Point Financial’s payout ratio is 44.44%.

Hedge Funds Weigh In On Old Point Financial

A hedge fund recently raised its stake in Old Point Financial stock. Empowered Funds LLC increased its stake in Old Point Financial Co. (NASDAQ:OPOF) by 8.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,244 shares of the bank’s stock after acquiring an additional 1,225 shares during the quarter. Empowered Funds LLC owned about 0.32% of Old Point Financial worth $277,000 at the end of the most recent reporting period. 33.43% of the stock is currently owned by institutional investors.

About Old Point Financial

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.