Old Point Financial (NASDAQ:OPOF) Stock Passes Above 200 Day Moving Average - Here's Why

Shares of Old Point Financial Co. (NASDAQ:OPOF - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $26.37 and traded as high as $39.49. Old Point Financial shares last traded at $39.30, with a volume of 11,237 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Old Point Financial in a research note on Tuesday, April 15th. They set a "hold" rating on the stock.

Old Point Financial Stock Performance

The company has a debt-to-equity ratio of 0.35, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a 50-day moving average price of $32.93 and a 200 day moving average price of $26.61. The company has a market cap of $200.43 million, a price-to-earnings ratio of 20.89 and a beta of -0.22.

Old Point Financial (NASDAQ:OPOF - Get Free Report) last announced its earnings results on Thursday, January 30th. The bank reported $0.57 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Wednesday, March 5th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Wednesday, March 5th. Old Point Financial's dividend payout ratio is 29.79%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. WealthTrak Capital Management LLC bought a new stake in Old Point Financial in the 4th quarter valued at approximately $47,000. Northern Trust Corp raised its holdings 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 valued at $454,000 after purchasing an additional 4,521 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in shares of Old Point Financial by 1.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 18,951 shares of the bank's stock worth $494,000 after purchasing an additional 350 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Old Point Financial by 6.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 20,416 shares of the bank's stock worth $532,000 after purchasing an additional 1,246 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Old Point Financial by 18.1% in the fourth 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. 33.43% of the stock is 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.