StockNews.com Initiates Coverage on Old Point Financial (NASDAQ:OPOF)

StockNews.com started coverage on shares of Old Point Financial (NASDAQ:OPOF) in a report released on Friday morning. The firm issued a hold rating on the bank’s stock.

Old Point Financial Stock Up 0.7 %

Shares of OPOF opened at $16.52 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.70. Old Point Financial has a 12 month low of $14.00 and a 12 month high of $28.87. The firm’s 50 day moving average is $16.92 and its 200-day moving average is $17.34. The stock has a market capitalization of $83.26 million, a PE ratio of 9.28 and a beta of 0.28.

Old Point Financial (NASDAQ:OPOF) last issued its quarterly earnings results on Thursday, October 26th. The bank reported $0.27 earnings per share (EPS) for the quarter. The business had revenue of $14.91 million for the quarter. Old Point Financial had a return on equity of 8.82% and a net margin of 11.65%.

Institutional Trading of Old Point Financial

Several large investors have recently made changes to their positions in OPOF. EA Series Trust bought a new position in Old Point Financial in the second quarter valued at about $218,000. Morgan Stanley increased its position in Old Point Financial by 6.3% during the 4th quarter. Morgan Stanley now owns 8,731 shares of the bank’s stock worth $236,000 after purchasing an additional 514 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Old Point Financial by 18.8% in the 2nd quarter. Renaissance Technologies LLC now owns 27,135 shares of the bank’s stock valued at $471,000 after purchasing an additional 4,300 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Old Point Financial by 5.9% in the first quarter. Dimensional Fund Advisors LP now owns 21,868 shares of the bank’s stock valued at $521,000 after buying an additional 1,215 shares in the last quarter. Finally, State Street Corp increased its holdings in Old Point Financial by 10.6% in the 2nd quarter. State Street Corp now owns 22,076 shares of the bank’s stock worth $558,000 after purchasing an additional 2,122 shares in the last quarter. Institutional investors and hedge funds own 39.51% 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. The company offers deposit products, including interest-bearing transaction accounts, money market deposit accounts, savings accounts, time deposits, and demand deposits.