Old Point Financial (NASDAQ:OPOF) Stock Passes Above 200 Day Moving Average – Time to Sell?

Shares of Old Point Financial Co. (NASDAQ:OPOF) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $22.66 and traded as high as $30.85. Old Point Financial shares last traded at $30.22, with a volume of 10,790 shares trading hands.

Analyst Upgrades and Downgrades

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

Old Point Financial Trading Down 1.2 %

The firm has a market capitalization of $153.46 million, a P/E ratio of 16.07 and a beta of 0.17. The stock’s 50-day simple moving average is $26.78 and its two-hundred day simple moving average is $22.66. 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 issued its earnings results on Thursday, January 30th. The bank reported $0.57 earnings per share for the quarter. Old Point Financial had a net margin of 11.08% and a return on equity of 8.56%.

Old Point Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 5th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a yield of 1.85%. Old Point Financial’s dividend payout ratio is presently 29.79%.

Institutional Investors Weigh In On Old Point Financial

Institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC boosted its position in shares of Old Point Financial by 5.4% during the third quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock worth $356,000 after acquiring an additional 938 shares during the last quarter. Fourthstone LLC boosted its holdings in shares of Old Point Financial by 44.9% during the 3rd quarter. Fourthstone LLC now owns 81,594 shares of the bank’s stock valued at $1,576,000 after purchasing an additional 25,273 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Old Point Financial by 1.6% during the third quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock valued at $874,000 after purchasing an additional 693 shares in the last quarter. PL Capital Advisors LLC increased its holdings in shares of Old Point Financial by 2,506.0% in the fourth quarter. PL Capital Advisors LLC now owns 18,785,638 shares of the bank’s stock worth $489,554,000 after purchasing an additional 18,064,777 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A lifted its position in shares of Old Point Financial by 1.1% in the fourth quarter. OLD Point Trust & Financial Services N A now owns 263,439 shares of the bank’s stock worth $6,865,000 after buying an additional 2,901 shares in the last quarter. 33.43% of the stock is owned by hedge funds and other institutional investors.

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.