Old Point Financial (NASDAQ:OPOF) Receives New Coverage from Analysts at StockNews.com

StockNews.com started coverage on shares of Old Point Financial (NASDAQ:OPOF) in a report released on Thursday. The brokerage issued a hold rating on the bank’s stock.

Separately, TheStreet cut Old Point Financial from a b- rating to a c+ rating in a research note on Thursday, June 8th.

Old Point Financial Trading Up 0.7 %

Shares of Old Point Financial stock opened at $17.27 on Thursday. Old Point Financial has a 1 year low of $15.00 and a 1 year high of $29.06. The firm has a market cap of $86.99 million, a PE ratio of 8.55 and a beta of 0.31. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.92. The company has a 50 day simple moving average of $18.57 and a two-hundred day simple moving average of $19.76.

Old Point Financial (NASDAQ:OPOF) last issued its earnings results on Thursday, July 27th. The bank reported $0.36 earnings per share (EPS) for the quarter. The firm had revenue of $15.58 million for the quarter. Old Point Financial had a net margin of 14.11% and a return on equity of 10.14%.

Old Point Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Wednesday, September 6th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Tuesday, September 5th. Old Point Financial’s payout ratio is 27.72%.

Institutional Trading of Old Point Financial

Institutional investors and hedge funds have recently modified their holdings of the business. OLD Point Trust & Financial Services N A lifted its position in Old Point Financial by 3.5% during the first quarter. OLD Point Trust & Financial Services N A now owns 200,739 shares of the bank’s stock valued at $4,780,000 after purchasing an additional 6,787 shares in the last quarter. BlackRock Inc. increased its stake in Old Point Financial by 306.3% during the third quarter. BlackRock Inc. now owns 37,992 shares of the bank’s stock worth $1,053,000 after acquiring an additional 28,642 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Old Point Financial by 16.5% during the second quarter. Geode Capital Management LLC now owns 36,564 shares of the bank’s stock valued at $634,000 after buying an additional 5,184 shares during the last quarter. State Street Corp grew its stake in shares of Old Point Financial by 10.6% during the second quarter. State Street Corp now owns 22,076 shares of the bank’s stock valued at $558,000 after buying an additional 2,122 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Old Point Financial by 5.9% during the first quarter. Dimensional Fund Advisors LP now owns 21,868 shares of the bank’s stock valued at $521,000 after buying an additional 1,215 shares during the last quarter. Institutional investors own 39.51% of the company’s stock.

Old Point Financial Company Profile

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.