Old Point Financial (NASDAQ:OPOF) Share Price Crosses Above Two Hundred Day Moving Average of $24.61

Old Point Financial Co. (NASDAQ:OPOFGet Rating) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $24.61 and traded as high as $24.81. Old Point Financial shares last traded at $24.04, with a volume of 290 shares trading hands.

The business’s 50 day moving average is $25.37 and its two-hundred day moving average is $24.61. The firm has a market capitalization of $122.53 million, a P/E ratio of 16.93 and a beta of 0.82.

Old Point Financial (NASDAQ:OPOFGet Rating) last released its earnings results on Thursday, April 28th. The bank reported $0.39 earnings per share (EPS) for the quarter. The firm had revenue of $13.15 million for the quarter. Old Point Financial had a return on equity of 6.35% and a net margin of 13.32%.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 24th. Investors of record on Wednesday, June 1st will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Tuesday, May 31st. Old Point Financial’s payout ratio is currently 36.62%.

In other news, major shareholder Pl Capital Advisors, Llc bought 69,609 shares of the stock in a transaction that occurred on Wednesday, March 23rd. The shares were purchased at an average cost of $25.38 per share, with a total value of $1,766,676.42. Following the completion of the acquisition, the insider now directly owns 625,246 shares in the company, valued at $15,868,743.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have purchased 69,974 shares of company stock worth $1,775,996. 16.18% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its stake in Old Point Financial by 4.2% in the 4th 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 increased its stake in Old Point Financial by 2.3% in the 3rd 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. Renaissance Technologies LLC increased its stake in Old Point Financial by 4.3% in the 3rd quarter. Renaissance Technologies LLC now owns 31,435 shares of the bank’s stock worth $668,000 after purchasing an additional 1,300 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in Old Point Financial in the 1st quarter worth about $39,000. Finally, Morgan Stanley increased its stake in Old Point Financial by 52.0% in the 2nd 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. 32.57% of the stock is currently owned by hedge funds and other institutional investors.

Old Point Financial Company Profile (NASDAQ:OPOF)

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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