Fourthstone LLC Purchases 263,026 Shares of Old Point Financial Co. (NASDAQ:OPOF)

Fourthstone LLC increased its holdings in shares of Old Point Financial Co. (NASDAQ:OPOF - Free Report) by 322.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 344,620 shares of the bank's stock after acquiring an additional 263,026 shares during the period. Old Point Financial makes up about 1.8% of Fourthstone LLC's portfolio, making the stock its 18th largest holding. Fourthstone LLC owned 6.78% of Old Point Financial worth $8,981,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. WealthTrak Capital Management LLC acquired a new position in shares of Old Point Financial during the 4th quarter valued at about $47,000. 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 worth $936,000 after acquiring an additional 5,500 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Old Point Financial by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 45,205 shares of the bank's stock worth $874,000 after acquiring an additional 693 shares in the last quarter. OLD Point Trust & Financial Services N A lifted its position in Old Point Financial by 1.1% in the fourth quarter. OLD Point Trust & Financial Services N A now owns 263,439 shares of the bank's stock valued at $6,865,000 after acquiring an additional 2,901 shares during the last quarter. Finally, PL Capital Advisors LLC boosted its holdings in shares of Old Point Financial by 2,506.0% in the fourth quarter. PL Capital Advisors LLC now owns 18,785,638 shares of the bank's stock valued at $489,554,000 after acquiring an additional 18,064,777 shares during the period. Hedge funds and other institutional investors own 33.43% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Old Point Financial in a report on Tuesday, April 15th. They issued a "hold" rating for the company.

Old Point Financial Stock Up 1.4 %

NASDAQ:OPOF traded up $0.53 on Tuesday, reaching $38.29. The stock had a trading volume of 6,515 shares, compared to its average volume of 10,078. The company has a 50-day moving average of $32.12 and a 200 day moving average of $26.06. The stock has a market cap of $195.41 million, a P/E ratio of 20.36 and a beta of -0.22. Old Point Financial Co. has a 12-month low of $13.49 and a 12-month high of $38.90. 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 - Get Free Report) last released its earnings results on Thursday, January 30th. The bank reported $0.57 earnings per share for the quarter. Old Point Financial had a return on equity of 8.56% and a net margin of 11.08%.

Old Point Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 5th were paid a $0.14 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a yield of 1.46%. Old Point Financial's payout ratio is presently 29.79%.

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.