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

Analysts at StockNews.com started coverage on shares of Old Point Financial (NASDAQ:OPOF) in a research note issued on Wednesday. The firm set a “hold” rating on the bank’s stock.

Old Point Financial Stock Down 2.7 %

Shares of NASDAQ OPOF opened at $14.61 on Wednesday. The company’s 50-day simple moving average is $16.58 and its 200-day simple moving average is $17.02. Old Point Financial has a 52-week low of $14.00 and a 52-week high of $23.88. The firm has a market cap of $73.63 million, a price-to-earnings ratio of 9.49 and a beta of 0.20. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.65.

Old Point Financial (NASDAQ:OPOF) last announced its earnings results on Tuesday, January 30th. The bank reported $0.29 earnings per share (EPS) for the quarter. The business had revenue of $15.35 million for the quarter. Old Point Financial had a net margin of 9.60% and a return on equity of 7.51%.

Hedge Funds Weigh In On Old Point Financial

A number of institutional investors and hedge funds have recently bought and sold shares of OPOF. Morgan Stanley boosted 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 acquiring an additional 514 shares during the last quarter. Northern Trust Corp purchased a new stake in Old Point Financial during the 4th quarter worth approximately $259,000. Renaissance Technologies LLC increased 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 worth $471,000 after buying an additional 4,300 shares during the period. Dimensional Fund Advisors LP increased 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 worth $521,000 after buying an additional 1,215 shares during the period. Finally, State Street Corp increased its stake in Old Point Financial by 10.6% during the 2nd quarter. State Street Corp now owns 22,076 shares of the bank’s stock worth $558,000 after buying an additional 2,122 shares during the period. 33.43% of the stock is currently owned by institutional investors and hedge funds.

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