Old Point Financial (NASDAQ:OPOF) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Old Point Financial Corporation (NASDAQ:OPOF) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $36.45 and traded as high as $41.35. Old Point Financial shares last traded at $40.63, with a volume of 22,818 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Old Point Financial from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd.

Old Point Financial Price Performance

The stock’s fifty day moving average price is $40.46 and its 200-day moving average price is $36.45. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $207.21 million, a price-to-earnings ratio of 23.90 and a beta of -0.32.

Old Point Financial (NASDAQ:OPOF) last released 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 8.16%. The business had revenue of $15.43 million for the quarter.

Old Point Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were given a dividend of $0.14 per share. The ex-dividend date was Monday, June 9th. This represents a $0.56 dividend on an annualized basis and a yield of 1.4%. Old Point Financial’s dividend payout ratio (DPR) is presently 32.94%.

Institutional Investors Weigh In On Old Point Financial

A number of institutional investors have recently bought and sold shares of the business. Bridgeway Capital Management LLC boosted its position in Old Point Financial by 1.5% during the 2nd quarter. Bridgeway Capital Management LLC now owns 19,911 shares of the bank’s stock worth $782,000 after acquiring an additional 293 shares during the period. Empowered Funds LLC boosted its position in Old Point Financial by 3.5% during the 1st quarter. Empowered Funds LLC now owns 19,459 shares of the bank’s stock worth $583,000 after acquiring an additional 667 shares during the period. Police & Firemen s Retirement System of New Jersey acquired a new stake in Old Point Financial during the 2nd quarter worth about $36,000. 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. Finally, Credit Industriel ET Commercial acquired a new stake in Old Point Financial during the 2nd quarter worth about $64,000. 33.43% of the stock is currently owned by institutional investors and hedge funds.

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.