Old Point Financial (NASDAQ:OPOF) Shares Cross Above 200 Day Moving Average - Should You Sell?

Old Point Financial Co. (NASDAQ:OPOF - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $22.66 and traded as high as $30.85. Old Point Financial shares last traded at $30.22, with a volume of 10,790 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Old Point Financial in a research report on Tuesday. They issued a "hold" rating on the stock.

Old Point Financial Price 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 company's 50 day moving average is $27.11 and its 200 day moving average is $22.91. The stock has a market cap of $152.90 million, a price-to-earnings ratio of 16.02 and a beta of 0.17.

Old Point Financial (NASDAQ:OPOF - Get Free Report) last announced its quarterly earnings data 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%.

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Old Point Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Wednesday, March 5th. Old Point Financial's payout ratio is currently 29.79%.

Hedge Funds Weigh In On Old Point Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PL Capital Advisors LLC grew its holdings in shares of Old Point Financial by 2,506.0% during the fourth quarter. PL Capital Advisors LLC now owns 18,785,638 shares of the bank's stock worth $489,554,000 after buying an additional 18,064,777 shares in the last quarter. Fourthstone LLC grew its holdings in Old Point Financial by 322.4% in the fourth quarter. Fourthstone LLC now owns 344,620 shares of the bank's stock valued at $8,981,000 after purchasing an additional 263,026 shares during the period. OLD Point Trust & Financial Services N A lifted its position in Old Point Financial by 1.1% during 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 buying an additional 2,901 shares in the last quarter. Geode Capital Management LLC lifted its position in Old Point Financial by 1.6% during 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 in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Old Point Financial by 18.1% during the fourth quarter. Renaissance Technologies LLC now owns 35,929 shares of the bank's stock valued at $936,000 after buying an additional 5,500 shares in the last quarter. Institutional investors and hedge funds 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.