Old Point Financial Co. (NASDAQ:OPOF) Major Shareholder Pl Capital Advisors, Llc Buys 83,169 Shares

Old Point Financial Co. (NASDAQ:OPOF) major shareholder Pl Capital Advisors, Llc purchased 83,169 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were purchased at an average price of $14.80 per share, for a total transaction of $1,230,901.20. Following the acquisition, the insider now owns 720,861 shares of the company’s stock, valued at $10,668,742.80. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Pl Capital Advisors, Llc also recently made the following trade(s):

• On Thursday, June 6th, Pl Capital Advisors, Llc acquired 3,803 shares of Old Point Financial stock. The stock was acquired at an average cost of $14.78 per share, for a total transaction of $56,208.34.
• On Monday, June 3rd, Pl Capital Advisors, Llc purchased 3,100 shares of Old Point Financial stock. The stock was acquired at an average price of $15.00 per share, with a total value of $46,500.00.
• On Tuesday, May 28th, Pl Capital Advisors, Llc acquired 1,799 shares of Old Point Financial stock. The shares were acquired at an average cost of $14.92 per share, for a total transaction of $26,841.08.
• On Friday, May 17th, Pl Capital Advisors, Llc bought 2,101 shares of Old Point Financial stock. The stock was acquired at an average cost of $14.92 per share, with a total value of $31,346.92.
• On Tuesday, May 14th, Pl Capital Advisors, Llc purchased 17,403 shares of Old Point Financial stock. The stock was bought at an average price of $14.25 per share, with a total value of $247,992.75.

Old Point Financial Stock Performance

Shares of OPOF opened at $14.55 on Monday. The firm has a market capitalization of $73.86 million, a P/E ratio of 11.55 and a beta of 0.29. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93. Old Point Financial Co. has a one year low of $13.49 and a one year high of $22.33. The business has a fifty day moving average of $14.65 and a 200 day moving average of $16.35.

Old Point Financial (NASDAQ:OPOF) last released its quarterly earnings results on Tuesday, April 30th. The bank reported $0.34 earnings per share (EPS) for the quarter. Old Point Financial had a return on equity of 6.11% and a net margin of 7.71%. The business had revenue of $14.76 million during the quarter.

Old Point Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Wednesday, June 5th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.85%. The ex-dividend date is Wednesday, June 5th. Old Point Financial’s dividend payout ratio is presently 44.44%.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Old Point Financial in a report on Wednesday, June 12th. They issued a “hold” rating on the stock.

Institutional Investors Weigh In On Old Point Financial

A hedge fund recently raised its stake in Old Point Financial stock. Empowered Funds LLC raised its stake in shares of Old Point Financial Co. (NASDAQ:OPOF) by 8.2% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 16,244 shares of the bank’s stock after purchasing an additional 1,225 shares during the period. Empowered Funds LLC owned 0.32% of Old Point Financial worth $277,000 as of its most recent SEC filing. 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.