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

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

Old Point Financial Stock Performance

Shares of Old Point Financial stock opened at $24.88 on Friday. The business has a fifty day simple moving average of $21.29 and a 200-day simple moving average of $18.56. The stock has a market cap of $126.34 million, a PE ratio of 15.55 and a beta of 0.29. 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 has a 12 month low of $13.49 and a 12 month high of $25.50.

Old Point Financial (NASDAQ:OPOF) last issued its earnings results on Thursday, October 24th. The bank reported $0.47 earnings per share for the quarter. The company had revenue of $15.78 million for 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 large investors have recently bought and sold shares of OPOF. Eastern Bank bought a new stake in shares of Old Point Financial during the 3rd quarter worth $57,000. Empowered Funds LLC increased its position in 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 period. Fourthstone LLC lifted its holdings in shares of Old Point Financial by 44.9% during the third quarter. Fourthstone LLC now owns 81,594 shares of the bank’s stock worth $1,576,000 after buying an additional 25,273 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position 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 acquiring an additional 693 shares during the period. 33.43% of the stock is currently owned by institutional investors.

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.