Old Point Financial (NASDAQ:OPOF) Now Covered by StockNews.com

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

Old Point Financial Trading Down 0.1 %

Shares of NASDAQ OPOF opened at $30.10 on Wednesday. The stock has a market cap of $152.85 million, a price-to-earnings ratio of 16.01 and a beta of 0.17. The business has a 50 day simple moving average of $27.37 and a 200 day simple moving average of $23.20. Old Point Financial has a 52 week low of $13.49 and a 52 week high of $30.95. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.92 and a current ratio of 0.92.

Old Point Financial (NASDAQ:OPOF) last announced 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%.

Hedge Funds Weigh In On Old Point Financial

A number of institutional investors have recently modified their holdings of the company. Bridgeway Capital Management LLC raised its position in shares of Old Point Financial by 1.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 18,951 shares of the bank’s stock valued at $494,000 after purchasing an additional 350 shares during the period. Geode Capital Management LLC raised its position in shares of Old Point Financial by 1.6% in 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 during the period. Empowered Funds LLC raised its position 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. Dimensional Fund Advisors LP raised its position in shares of Old Point Financial by 6.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 20,416 shares of the bank’s stock valued at $532,000 after purchasing an additional 1,246 shares during the period. Finally, WealthTrak Capital Management LLC bought a new position in shares of Old Point Financial in the fourth quarter valued at approximately $47,000. 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.