StockNews.com Begins Coverage on Old Point Financial (NASDAQ:OPOF)

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

Old Point Financial Price Performance

OPOF stock opened at $25.86 on Monday. The company has a market cap of $131.32 million, a price-to-earnings ratio of 16.16 and a beta of 0.26. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average of $22.61 and a 200-day moving average of $19.43. Old Point Financial has a 12-month low of $13.49 and a 12-month high of $28.00.

Old Point Financial (NASDAQ:OPOF) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $0.47 earnings per share (EPS) for the quarter. The firm 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 Trading of Old Point Financial

Several institutional investors and hedge funds have recently modified their holdings of the business. Fourthstone LLC boosted its stake 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 valued at $1,576,000 after acquiring an additional 25,273 shares during the last quarter. Geode Capital Management LLC grew its holdings in Old Point Financial by 1.6% in 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 during the period. Empowered Funds LLC increased its stake 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 acquiring an additional 938 shares during the last quarter. Finally, Eastern Bank purchased a new position in shares of Old Point Financial during the 3rd quarter worth about $57,000. Hedge funds and other institutional investors own 33.43% of the company’s stock.

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.