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

Investment analysts at StockNews.com began coverage on shares of Old Point Financial (NASDAQ:OPOF) in a report issued on Tuesday. The firm set a “hold” rating on the bank’s stock.

Old Point Financial Price Performance

NASDAQ:OPOF opened at $25.30 on Tuesday. The stock has a market cap of $128.47 million, a P/E ratio of 15.81 and a beta of 0.26. Old Point Financial has a one year low of $13.49 and a one year high of $28.00. The company has a fifty day moving average price of $23.15 and a 200 day moving average price of $19.83. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.92 and a quick ratio of 0.92.

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

Hedge Funds Weigh In On Old Point Financial

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its stake in shares of 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 in the last quarter. Empowered Funds LLC raised its stake 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 valued at $356,000 after buying an additional 938 shares in the last quarter. Fourthstone LLC raised its stake in shares of Old Point Financial by 44.9% in 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, Eastern Bank acquired a new position in shares of Old Point Financial in the 3rd quarter valued at $57,000. Institutional investors and hedge funds 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.