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

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

Old Point Financial Trading Down 0.3 %

NASDAQ OPOF opened at $29.80 on Friday. The firm has a market cap of $151.38 million, a P/E ratio of 15.85 and a beta of 0.26. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.92 and a quick ratio of 0.92. The stock’s 50-day moving average is $25.64 and its 200-day moving average is $21.79. Old Point Financial has a one year low of $13.49 and a one year high of $30.10.

Old Point Financial (NASDAQ:OPOF) last released its quarterly earnings results on Thursday, January 30th. The bank reported $0.57 EPS for the quarter. Old Point Financial had a return on equity of 8.56% and a net margin of 11.08%.

Institutional Investors Weigh In On Old Point Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of OPOF. PL Capital Advisors LLC raised its position in Old Point Financial by 2,506.0% in the 4th quarter. PL Capital Advisors LLC now owns 18,785,638 shares of the bank’s stock valued at $489,554,000 after buying an additional 18,064,777 shares during the last quarter. Fourthstone LLC raised its position in Old Point Financial by 322.4% in the 4th quarter. Fourthstone LLC now owns 344,620 shares of the bank’s stock valued at $8,981,000 after buying an additional 263,026 shares during the last quarter. Renaissance Technologies LLC raised its position in Old Point Financial by 18.1% in the 4th quarter. Renaissance Technologies LLC now owns 35,929 shares of the bank’s stock valued at $936,000 after buying an additional 5,500 shares during the last quarter. Northern Trust Corp raised its position in Old Point Financial by 35.0% in the 4th quarter. Northern Trust Corp now owns 17,440 shares of the bank’s stock valued at $454,000 after buying an additional 4,521 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A raised its position in Old Point Financial by 1.1% in the 4th quarter. OLD Point Trust & Financial Services N A now owns 263,439 shares of the bank’s stock valued at $6,865,000 after buying an additional 2,901 shares during the last quarter. 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.