StockNews.com initiated coverage on shares of Old Point Financial (NASDAQ:OPOF - Free Report) in a research note released on Wednesday morning. The brokerage issued a hold rating on the bank's stock.
Old Point Financial Price Performance
Old Point Financial stock traded down $0.33 during trading hours on Wednesday, hitting $24.81. 2,787 shares of the stock were exchanged, compared to its average volume of 4,183. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $126.01 million, a P/E ratio of 15.50 and a beta of 0.26. The business's 50-day moving average is $23.83 and its two-hundred day moving average is $20.34. Old Point Financial has a 12 month low of $13.49 and a 12 month high of $28.00.
Old Point Financial (NASDAQ:OPOF - Get Free Report) last issued its earnings results on Thursday, October 24th. The bank reported $0.47 earnings per share (EPS) for the quarter. Old Point Financial had a net margin of 9.47% and a return on equity of 7.38%. The company had revenue of $15.78 million for the quarter.
Old Point Financial Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Wednesday, December 4th were given a dividend of $0.14 per share. The ex-dividend date was Wednesday, December 4th. This represents a $0.56 annualized dividend and a yield of 2.26%. Old Point Financial's dividend payout ratio (DPR) is presently 35.00%.
Hedge Funds Weigh In On Old Point Financial
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in Old Point Financial by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 45,205 shares of the bank's stock valued at $874,000 after purchasing an additional 693 shares during the period. Fourthstone LLC lifted its holdings in shares of Old Point Financial by 44.9% during the third quarter. Fourthstone LLC now owns 81,594 shares of the bank's stock worth $1,576,000 after buying an additional 25,273 shares in the last quarter. Empowered Funds LLC boosted its position in shares of 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 acquiring an additional 938 shares during the period. Finally, Eastern Bank acquired a new position in shares of Old Point Financial in the third quarter valued at about $57,000. 33.43% of the stock is owned by institutional investors.
About Old Point Financial
(
Get Free Report)
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.
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