Old Point Financial Co. (NASDAQ:OPOF) Major Shareholder Buys $33,262.10 in Stock

Old Point Financial Co. (NASDAQ:OPOFGet Rating) major shareholder Pl Capital Advisors, Llc bought 1,366 shares of the stock in a transaction dated Thursday, February 10th. The shares were bought at an average price of $24.35 per share, for a total transaction of $33,262.10. Following the completion of the acquisition, the insider now owns 528,823 shares in the company, valued at $12,876,840.05. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Pl Capital Advisors, Llc also recently made the following trade(s):

  • On Wednesday, March 23rd, Pl Capital Advisors, Llc bought 69,609 shares of Old Point Financial stock. The shares were bought at an average price of $25.38 per share, for a total transaction of $1,766,676.42.
  • On Thursday, March 10th, Pl Capital Advisors, Llc bought 26,814 shares of Old Point Financial stock. The shares were bought at an average price of $25.25 per share, for a total transaction of $677,053.50.

Shares of Old Point Financial stock remained flat at $$25.88 on Tuesday. The stock had a trading volume of 282 shares, compared to its average volume of 6,123. The stock has a market cap of $131.91 million, a PE ratio of 18.23 and a beta of 0.81. The stock’s fifty day moving average is $25.60 and its 200-day moving average is $24.33. Old Point Financial Co. has a fifty-two week low of $20.50 and a fifty-two week high of $27.99.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 24th. Investors of record on Wednesday, June 1st will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Tuesday, May 31st. Old Point Financial’s dividend payout ratio is presently 36.62%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC acquired a new position in Old Point Financial in the first quarter valued at approximately $39,000. Morgan Stanley lifted its stake in Old Point Financial by 52.0% during the second quarter. Morgan Stanley now owns 5,630 shares of the bank’s stock worth $136,000 after purchasing an additional 1,925 shares in the last quarter. BlackRock Inc. lifted its stake in Old Point Financial by 4.2% during the fourth quarter. BlackRock Inc. now owns 11,526 shares of the bank’s stock worth $270,000 after purchasing an additional 467 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Old Point Financial by 2.3% during the third quarter. Dimensional Fund Advisors LP now owns 20,480 shares of the bank’s stock worth $439,000 after purchasing an additional 468 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Old Point Financial by 36.3% during the third quarter. Geode Capital Management LLC now owns 20,532 shares of the bank’s stock worth $440,000 after purchasing an additional 5,473 shares in the last quarter. Hedge funds and other institutional investors own 32.57% of the company’s stock.

About Old Point Financial (Get Rating)

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. The company offers deposit products, including interest-bearing transaction accounts, money market deposit accounts, savings accounts, time deposits, and demand deposits.

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