Old Point Financial (NASDAQ:OPOF) Coverage Initiated by Analysts at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of Old Point Financial (NASDAQ:OPOF) in a research report issued on Thursday. The brokerage set a “hold” rating on the bank’s stock.

Old Point Financial Stock Performance

OPOF opened at $22.41 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $113.80 million, a PE ratio of 14.01 and a beta of 0.29. Old Point Financial has a fifty-two week low of $13.49 and a fifty-two week high of $23.43. The company’s 50-day moving average is $20.16 and its 200 day moving average is $17.88.

Old Point Financial (NASDAQ:OPOF) last released its earnings results on Thursday, October 24th. The bank reported $0.47 earnings per share for the quarter. Old Point Financial had a net margin of 9.47% and a return on equity of 7.38%. The firm had revenue of $15.78 million during the quarter.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Eastern Bank purchased a new stake in shares of Old Point Financial during the 3rd quarter valued at $57,000. Empowered Funds LLC raised its position in shares of Old Point Financial by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock valued at $356,000 after buying an additional 938 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Old Point Financial by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock valued at $874,000 after buying an additional 693 shares in the last quarter. Fourthstone LLC raised its position in shares of Old Point Financial by 44.9% during the 3rd quarter. Fourthstone LLC now owns 81,594 shares of the bank’s stock valued at $1,576,000 after buying an additional 25,273 shares in the last quarter. Finally, PL Capital Advisors LLC raised its position in shares of Old Point Financial by 19.2% during the 2nd quarter. PL Capital Advisors LLC now owns 720,861 shares of the bank’s stock valued at $10,575,000 after buying an additional 116,015 shares in the last quarter. 33.43% of the stock is owned by institutional investors.

Old Point Financial Company Profile

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.