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

Equities researchers at StockNews.com began coverage on shares of Old Point Financial (NASDAQ:OPOF) in a report issued on Sunday. The firm set a “hold” rating on the bank’s stock.

Old Point Financial Trading Down 0.9 %

NASDAQ OPOF opened at $19.63 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. Old Point Financial has a 1-year low of $13.49 and a 1-year high of $21.00. The firm’s fifty day simple moving average is $18.81 and its 200-day simple moving average is $16.77. The company has a market capitalization of $99.73 million, a PE ratio of 12.27 and a beta of 0.29.

Old Point Financial (NASDAQ:OPOF) last issued its earnings results on Thursday, October 24th. The bank reported $0.47 earnings per share for the quarter. The company had revenue of $15.78 million for the quarter. Old Point Financial had a return on equity of 7.50% and a net margin of 9.47%.

Hedge Funds Weigh In On Old Point Financial

Hedge funds have recently bought and sold shares of the business. Eastern Bank bought a new position in shares of Old Point Financial in the 3rd quarter valued at approximately $57,000. Empowered Funds LLC lifted its position in Old Point Financial by 8.2% during the 1st quarter. Empowered Funds LLC now owns 16,244 shares of the bank’s stock worth $277,000 after acquiring an additional 1,225 shares during the last quarter. Finally, PL Capital Advisors LLC boosted its holdings in Old Point Financial by 19.2% during the second quarter. PL Capital Advisors LLC now owns 720,861 shares of the bank’s stock valued at $10,575,000 after acquiring an additional 116,015 shares during the period. 33.43% of the stock is 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.