Old Point Financial (NASDAQ:OPOF) Coverage Initiated by Analysts at StockNews.com

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

Old Point Financial Stock Up 0.2 %

Shares of Old Point Financial stock opened at $19.15 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. The business’s 50 day simple moving average is $18.51 and its 200-day simple moving average is $16.45. The stock has a market capitalization of $97.21 million, a price-to-earnings ratio of 15.20 and a beta of 0.29. Old Point Financial has a twelve month low of $13.49 and a twelve month high of $20.26.

Old Point Financial (NASDAQ:OPOF) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $0.50 earnings per share for the quarter. The business had revenue of $15.59 million for the quarter. Old Point Financial had a return on equity of 6.69% and a net margin of 8.41%.

Institutional Trading of Old Point Financial

A hedge fund recently raised its stake in Old Point Financial stock. PL Capital Advisors LLC increased its holdings in Old Point Financial Co. (NASDAQ:OPOF) by 19.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 720,861 shares of the bank’s stock after buying an additional 116,015 shares during the quarter. Old Point Financial comprises 4.4% of PL Capital Advisors LLC’s portfolio, making the stock its 7th largest holding. PL Capital Advisors LLC owned about 14.19% of Old Point Financial worth $10,575,000 as of its most recent SEC filing. 33.43% of the stock is currently owned by hedge funds and other institutional investors.

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.