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

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

Old Point Financial Stock Up 2.0 %

OPOF opened at $24.47 on Friday. The stock has a market capitalization of $124.26 million, a price-to-earnings ratio of 15.29 and a beta of 0.29. The firm has a 50 day moving average price of $20.75 and a 200-day moving average price of $18.22. Old Point Financial has a twelve month low of $13.49 and a twelve month high of $24.75. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.35.

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

Institutional Investors Weigh In On Old Point Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fourthstone LLC lifted its position in shares of Old Point Financial by 44.9% in the third quarter. Fourthstone LLC now owns 81,594 shares of the bank’s stock valued at $1,576,000 after acquiring an additional 25,273 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Old Point Financial by 1.6% in the third quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock valued at $874,000 after purchasing an additional 693 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Old Point Financial by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock worth $356,000 after buying an additional 938 shares during the last quarter. Finally, Eastern Bank purchased a new stake in shares of Old Point Financial during the 3rd quarter valued at about $57,000. 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.