Old Point Financial (NASDAQ:OPOF) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Old Point Financial Co. (NASDAQ:OPOF) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $20.34 and traded as high as $25.14. Old Point Financial shares last traded at $25.04, with a volume of 2,914 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Old Point Financial in a research note on Wednesday. They set a “hold” rating for the company.

Old Point Financial Stock Performance

The firm’s fifty day moving average is $23.83 and its 200-day moving average is $20.34. 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 stock has a market capitalization of $127.22 million, a PE ratio of 15.65 and a beta of 0.26.

Old Point Financial (NASDAQ:OPOF) last announced its quarterly 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 business had revenue of $15.78 million during the quarter.

Old Point Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Wednesday, December 4th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date was Wednesday, December 4th. Old Point Financial’s dividend payout ratio (DPR) is 35.00%.

Institutional Investors Weigh In On Old Point Financial

Several institutional investors and hedge funds have recently modified their holdings of OPOF. Geode Capital Management LLC boosted its holdings in 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 acquiring an additional 693 shares during the period. Fourthstone LLC lifted its position 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 purchasing an additional 25,273 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Old Point Financial by 5.4% in the third quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock valued at $356,000 after purchasing an additional 938 shares during the period. Finally, Eastern Bank acquired a new position in shares of Old Point Financial in the third quarter valued at approximately $57,000. Hedge funds and other 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.