Old Point Financial (NASDAQ:OPOF) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Old Point Financial (NASDAQ:OPOF) in a research report report published on Tuesday. The firm issued a hold rating on the bank’s stock.

Old Point Financial Stock Up 1.0 %

Shares of NASDAQ OPOF opened at $18.69 on Tuesday. Old Point Financial has a 52-week low of $13.49 and a 52-week high of $20.26. The business’s 50 day moving average is $18.27 and its two-hundred day moving average is $16.23. The firm has a market cap of $94.87 million, a price-to-earnings ratio of 14.83 and a beta of 0.29. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.36.

Old Point Financial (NASDAQ:OPOF) last posted its earnings results on Thursday, July 25th. The bank reported $0.50 earnings per share (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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Wednesday, September 4th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend was Wednesday, September 4th. Old Point Financial’s payout ratio is currently 44.44%.

Hedge Funds Weigh In On Old Point Financial

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

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.