StockNews.com initiated coverage on shares of Old Point Financial (NASDAQ:OPOF - Free Report) in a research report sent to investors on Tuesday. The firm issued a hold rating on the bank's stock.
Old Point Financial Trading Down 0.2 %
Shares of OPOF traded down $0.05 during mid-day trading on Tuesday, reaching $25.25. The company had a trading volume of 2,440 shares, compared to its average volume of 4,998. Old Point Financial has a fifty-two week low of $13.49 and a fifty-two week high of $28.00. The firm has a fifty day simple moving average of $23.26 and a 200-day simple moving average of $19.91. The stock has a market cap of $128.22 million, a price-to-earnings ratio of 15.78 and a beta of 0.26. 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 issued its earnings results on Thursday, October 24th. The bank reported $0.47 earnings per share for the quarter. The firm had revenue of $15.78 million for the quarter. Old Point Financial had a return on equity of 7.38% and a net margin of 9.47%.
Old Point Financial Dividend Announcement
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 dividend on an annualized basis and a yield of 2.22%. Old Point Financial's dividend payout ratio (DPR) is 35.00%.
Hedge Funds Weigh In On Old Point Financial
Institutional investors and hedge funds have recently bought and sold shares of the stock. Eastern Bank bought a new position in shares of Old Point Financial during the third quarter worth about $57,000. Empowered Funds LLC lifted its holdings in Old Point Financial by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 18,442 shares of the bank's stock worth $356,000 after buying an additional 938 shares during the last quarter. Geode Capital Management LLC grew its position 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 worth $874,000 after acquiring an additional 693 shares in the last quarter. Finally, Fourthstone LLC grew its position in shares of Old Point Financial by 44.9% in the 3rd quarter. Fourthstone LLC now owns 81,594 shares of the bank's stock worth $1,576,000 after acquiring an additional 25,273 shares in the last quarter. Hedge funds and other institutional investors 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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