StockNews.com initiated coverage on shares of Old Point Financial (NASDAQ:OPOF - Free Report) in a research note published on Tuesday morning. The firm issued a hold rating on the bank's stock.
Old Point Financial Stock Performance
NASDAQ:OPOF traded down $0.09 during mid-day trading on Tuesday, hitting $30.11. 10,362 shares of the stock were exchanged, compared to its average volume of 7,111. 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 firm's 50-day simple moving average is $27.11 and its 200 day simple moving average is $22.91. Old Point Financial has a fifty-two week low of $13.49 and a fifty-two week high of $30.95. The stock has a market capitalization 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 released its quarterly 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 Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors 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 dividend payout ratio is currently 29.79%.
Hedge Funds Weigh In On Old Point Financial
Several hedge funds and other institutional investors have recently added to or reduced their stakes in OPOF. PL Capital Advisors LLC raised its stake in Old Point Financial by 2,506.0% in the fourth quarter. PL Capital Advisors LLC now owns 18,785,638 shares of the bank's stock valued at $489,554,000 after purchasing an additional 18,064,777 shares in the last quarter. Fourthstone LLC increased its holdings in Old Point Financial by 322.4% in the 4th quarter. Fourthstone LLC now owns 344,620 shares of the bank's stock valued at $8,981,000 after buying an additional 263,026 shares during the period. OLD Point Trust & Financial Services N A lifted its holdings in shares of Old Point Financial by 1.1% during the 4th quarter. OLD Point Trust & Financial Services N A now owns 263,439 shares of the bank's stock worth $6,865,000 after acquiring an additional 2,901 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Old Point Financial by 1.6% during 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 during the period. Finally, Renaissance Technologies LLC increased its stake 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 acquiring an additional 5,500 shares during the last quarter. 33.43% of the stock is owned by institutional investors and hedge funds.
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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