Wall Street Zen Downgrades Old Point Financial (NASDAQ:OPOF) to Sell

Old Point Financial (NASDAQ:OPOF) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Old Point Financial Stock Performance

Shares of OPOF opened at $39.87 on Friday. Old Point Financial has a 1 year low of $17.02 and a 1 year high of $41.61. The company has a market cap of $203.74 million, a price-to-earnings ratio of 23.45 and a beta of -0.32. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a fifty day moving average of $40.10 and a 200-day moving average of $35.17.

Old Point Financial (NASDAQ:OPOF) last announced its quarterly earnings results on Wednesday, July 30th. The bank reported $0.43 earnings per share (EPS) for the quarter. Old Point Financial had a net margin of 10.12% and a return on equity of 8.20%. The company had revenue of $15.43 million during the quarter.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its position in Old Point Financial by 18.1% during the 4th quarter. Renaissance Technologies LLC now owns 35,929 shares of the bank’s stock worth $936,000 after acquiring an additional 5,500 shares during the period. Northern Trust Corp boosted its position in Old Point Financial by 35.0% during the 4th quarter. Northern Trust Corp now owns 17,440 shares of the bank’s stock worth $454,000 after acquiring an additional 4,521 shares during the period. Dimensional Fund Advisors LP boosted its position in Old Point Financial by 6.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 20,416 shares of the bank’s stock worth $532,000 after acquiring an additional 1,246 shares during the period. Fourthstone LLC boosted its position in Old Point Financial by 322.4% during the 4th quarter. Fourthstone LLC now owns 344,620 shares of the bank’s stock worth $8,981,000 after acquiring an additional 263,026 shares during the period. Finally, Bridgeway Capital Management LLC boosted its position in Old Point Financial by 1.9% during the 4th quarter. Bridgeway Capital Management LLC now owns 18,951 shares of the bank’s stock worth $494,000 after acquiring an additional 350 shares during the period. Institutional investors and hedge funds own 33.43% of the company’s stock.

About Old Point Financial

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.