StockNews.com initiated coverage on shares of Old Point Financial (NASDAQ:OPOF – Free Report) in a research report sent to investors on Friday morning. The brokerage issued a hold rating on the bank’s stock.
Old Point Financial Trading Down 0.8 %
Shares of NASDAQ OPOF opened at $14.55 on Friday. Old Point Financial has a 1 year low of $13.49 and a 1 year high of $22.33. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a 50-day moving average of $14.52 and a 200 day moving average of $16.15. The stock has a market cap of $73.91 million, a P/E ratio of 11.55 and a beta of 0.28.
Old Point Financial (NASDAQ:OPOF – Get Free Report) last released its earnings results on Tuesday, April 30th. The bank reported $0.34 earnings per share (EPS) for the quarter. The firm had revenue of $14.76 million during the quarter. Old Point Financial had a net margin of 7.71% and a return on equity of 6.11%.
Old Point Financial Announces Dividend
Insider Transactions at Old Point Financial
In other news, major shareholder Pl Capital Advisors, Llc acquired 83,169 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were bought at an average cost of $14.80 per share, with a total value of $1,230,901.20. Following the transaction, the insider now owns 720,861 shares of the company’s stock, valued at approximately $10,668,742.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased a total of 111,555 shares of company stock valued at $1,642,355 in the last quarter. 21.11% of the stock is owned by insiders.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in Old Point Financial stock. Empowered Funds LLC increased its holdings in Old Point Financial Co. (NASDAQ:OPOF – Free Report) by 8.2% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 16,244 shares of the bank’s stock after buying an additional 1,225 shares during the quarter. Empowered Funds LLC owned about 0.32% of Old Point Financial worth $277,000 at the end of the most recent reporting period. Institutional investors 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.
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