StockNews.com upgraded shares of Old Point Financial (NASDAQ:OPOF - Free Report) from a hold rating to a buy rating in a research report report published on Thursday.
Old Point Financial Trading Down 0.3 %
Shares of Old Point Financial stock traded down $0.08 during trading hours on Thursday, reaching $29.94. 9,741 shares of the company's stock were exchanged, compared to its average volume of 7,414. Old Point Financial has a 52-week low of $13.49 and a 52-week high of $30.95. The company has a fifty day moving average of $28.12 and a 200-day moving average of $23.85. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $152.04 million, a price-to-earnings ratio of 15.93 and a beta of 0.17.
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 Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 5th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Wednesday, March 5th. Old Point Financial's dividend payout ratio (DPR) is 29.79%.
Hedge Funds Weigh In On Old Point Financial
A number of hedge funds have recently made changes to their positions in the stock. WealthTrak Capital Management LLC purchased a new position in shares of Old Point Financial in the 4th quarter worth $47,000. Northern Trust Corp increased its stake in Old Point Financial by 35.0% during the fourth quarter. Northern Trust Corp now owns 17,440 shares of the bank's stock worth $454,000 after acquiring an additional 4,521 shares during the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of Old Point Financial by 1.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 18,951 shares of the bank's stock worth $494,000 after purchasing an additional 350 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Old Point Financial by 6.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 20,416 shares of the bank's stock valued at $532,000 after purchasing an additional 1,246 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 33.43% of the company's stock.
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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