Old Point Financial (NASDAQ:OPOF) Releases Earnings Results

Old Point Financial (NASDAQ:OPOF) announced its quarterly earnings results on Thursday. The bank reported $0.47 earnings per share for the quarter, reports. The firm had revenue of $15.78 million during the quarter. Old Point Financial had a return on equity of 6.69% and a net margin of 8.41%.

Old Point Financial Trading Up 3.2 %

Shares of Old Point Financial stock opened at $20.33 on Friday. Old Point Financial has a twelve month low of $13.49 and a twelve month high of $20.33. The firm’s 50-day moving average price is $18.66 and its 200 day moving average price is $16.59. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $103.28 million, a PE ratio of 14.52 and a beta of 0.29.

Old Point Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Wednesday, September 4th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $0.56 annualized dividend and a dividend yield of 2.75%. Old Point Financial’s dividend payout ratio (DPR) is presently 40.00%.

Hedge Funds Weigh In On Old Point Financial

Several hedge funds and other institutional investors have recently made changes to their positions in OPOF. PL Capital Advisors LLC raised its stake in Old Point Financial by 19.2% in the 2nd quarter. PL Capital Advisors LLC now owns 720,861 shares of the bank’s stock valued at $10,575,000 after purchasing an additional 116,015 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Old Point Financial by 8.2% during the first quarter. Empowered Funds LLC now owns 16,244 shares of the bank’s stock worth $277,000 after buying an additional 1,225 shares in the last quarter. Finally, Eastern Bank acquired a new stake in shares of Old Point Financial in the third quarter valued at about $57,000. Hedge funds and other institutional investors own 33.43% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Old Point Financial in a research report on Saturday. They issued a “hold” rating for the company.

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.