Old Point Financial (NASDAQ:OPOF) Coverage Initiated at StockNews.com

Analysts at StockNews.com initiated coverage on shares of Old Point Financial (NASDAQ:OPOFGet Free Report) in a note issued to investors on Tuesday. The brokerage set a “hold” rating on the bank’s stock.

Old Point Financial Price Performance

Old Point Financial stock opened at $17.22 on Tuesday. Old Point Financial has a 12 month low of $14.00 and a 12 month high of $28.72. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.92 and a quick ratio of 0.92. The business has a 50 day simple moving average of $17.67 and a 200-day simple moving average of $17.58. The stock has a market capitalization of $86.79 million, a PE ratio of 11.18 and a beta of 0.21.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of OPOF. Morgan Stanley lifted its position in Old Point Financial by 6.3% during the fourth quarter. Morgan Stanley now owns 8,731 shares of the bank’s stock worth $236,000 after buying an additional 514 shares during the period. Dimensional Fund Advisors LP grew its stake in Old Point Financial by 5.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 21,868 shares of the bank’s stock valued at $521,000 after purchasing an additional 1,215 shares in the last quarter. State Street Corp grew its position in shares of Old Point Financial by 10.6% in the 2nd quarter. State Street Corp now owns 22,076 shares of the bank’s stock worth $558,000 after acquiring an additional 2,122 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Old Point Financial by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 178,981 shares of the bank’s stock worth $3,270,000 after purchasing an additional 2,224 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Old Point Financial by 18.8% during the 2nd quarter. Renaissance Technologies LLC now owns 27,135 shares of the bank’s stock valued at $471,000 after acquiring an additional 4,300 shares in the last quarter. Institutional investors and hedge funds own 39.51% 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. 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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