Old Point Financial (NASDAQ:OPOF) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Old Point Financial (NASDAQ:OPOF) 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) 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

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

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) 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.