StockNews.com Begins Coverage on Old Point Financial (NASDAQ:OPOF)

Equities researchers at StockNews.com started coverage on shares of Old Point Financial (NASDAQ:OPOF) in a research note issued to investors on Wednesday. The firm set a “hold” rating on the bank’s stock.

Old Point Financial Price Performance

Shares of OPOF stock opened at $29.90 on Wednesday. Old Point Financial has a 1 year low of $13.49 and a 1 year high of $30.95. The firm’s 50 day moving average is $27.54 and its 200-day moving average is $23.29. The firm has a market capitalization of $151.83 million, a price-to-earnings ratio of 15.90 and a beta of 0.17. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.35.

Old Point Financial (NASDAQ:OPOF) last announced 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%.

Hedge Funds Weigh In On Old Point Financial

Several large investors have recently bought and sold shares of the business. Bridgeway Capital Management LLC lifted its holdings in Old Point Financial by 1.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 18,951 shares of the bank’s stock valued at $494,000 after buying an additional 350 shares during the period. Geode Capital Management LLC lifted its holdings in Old Point Financial by 1.6% in the third quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock valued at $874,000 after buying an additional 693 shares during the period. Empowered Funds LLC lifted its holdings in Old Point Financial by 5.4% in the third quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock valued at $356,000 after buying an additional 938 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Old Point Financial by 6.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 20,416 shares of the bank’s stock valued at $532,000 after buying an additional 1,246 shares during the period. Finally, WealthTrak Capital Management LLC acquired a new position in Old Point Financial in the fourth quarter valued at approximately $47,000. 33.43% of the stock is currently owned by institutional investors and hedge funds.

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.