Old Point Financial (NASDAQ:OPOF) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Shares of Old Point Financial Co. (NASDAQ:OPOF) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $22.66 and traded as high as $30.85. Old Point Financial shares last traded at $30.22, with a volume of 10,790 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Old Point Financial in a research note on Tuesday. They set a “hold” rating on the stock.

Old Point Financial Trading Down 0.0 %

The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $151.93 million, a price-to-earnings ratio of 15.91 and a beta of 0.17. The business has a 50 day simple moving average of $26.95 and a 200-day simple moving average of $22.81.

Old Point Financial (NASDAQ:OPOF) last released its earnings results on Thursday, January 30th. The bank reported $0.57 earnings per share (EPS) for the quarter. Old Point Financial had a net margin of 11.08% and a return on equity of 8.56%.

Old Point Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.14 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.87%. Old Point Financial’s payout ratio is 29.79%.

Institutional Investors Weigh In On Old Point Financial

A number of institutional investors have recently added to or reduced their stakes in the company. Bridgeway Capital Management LLC grew its stake in Old Point Financial by 1.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 18,951 shares of the bank’s stock worth $494,000 after buying an additional 350 shares during the period. Northern Trust Corp boosted its position in shares of Old Point Financial by 35.0% in the fourth quarter. Northern Trust Corp now owns 17,440 shares of the bank’s stock worth $454,000 after buying an additional 4,521 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Old Point Financial by 6.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 20,416 shares of the bank’s stock worth $532,000 after buying an additional 1,246 shares during the period. Fourthstone LLC grew its position in Old Point Financial by 322.4% in the fourth quarter. Fourthstone LLC now owns 344,620 shares of the bank’s stock valued at $8,981,000 after acquiring an additional 263,026 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Old Point Financial by 18.1% during the 4th quarter. Renaissance Technologies LLC now owns 35,929 shares of the bank’s stock valued at $936,000 after purchasing an additional 5,500 shares in the last quarter. Hedge funds and other institutional investors own 33.43% of the company’s stock.

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.