Old Point Financial (NASDAQ:OPOF) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

Old Point Financial Co. (NASDAQ:OPOF)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $30.82 and traded as high as $39.55. Old Point Financial shares last traded at $39.30, with a volume of 18,673 shares traded.

Wall Street Analyst Weigh In

Separately, Wall Street Zen assumed coverage on Old Point Financial in a research note on Tuesday, April 15th. They issued a “hold” rating on the stock.

Old Point Financial Stock Up 0.5%

The stock has a market capitalization of $200.63 million, a price-to-earnings ratio of 20.90 and a beta of -0.30. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average of $38.72 and a 200 day moving average of $30.82.

Old Point Financial (NASDAQ:OPOF) last posted its quarterly earnings results on Wednesday, April 30th. The bank reported $0.39 earnings per share (EPS) for the quarter. The business had revenue of $15.86 million for the quarter. Old Point Financial had a return on equity of 8.56% and a net margin of 11.08%.

Old Point Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Monday, June 9th. Old Point Financial’s dividend payout ratio is presently 28.57%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of OPOF. WealthTrak Capital Management LLC purchased a new stake in Old Point Financial in the 4th quarter worth about $47,000. Goldman Sachs Group Inc. purchased a new stake in shares of Old Point Financial during the 1st quarter worth about $339,000. Jane Street Group LLC acquired a new position in shares of Old Point Financial during the 1st quarter valued at about $392,000. Northern Trust Corp increased its holdings in shares of Old Point Financial by 35.0% during the 4th quarter. Northern Trust Corp now owns 17,440 shares of the bank’s stock valued at $454,000 after acquiring an additional 4,521 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its position in Old Point Financial by 1.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 18,951 shares of the bank’s stock worth $494,000 after buying an additional 350 shares during the period. Institutional investors own 33.43% 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. It offers deposit products, including interest-bearing transaction accounts, money market deposit accounts, savings accounts, time deposits, and demand deposits.