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

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

Old Point Financial Price Performance

Shares of NASDAQ OPOF opened at $20.33 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.91 and a quick ratio of 0.91. The business has a 50-day moving average of $18.66 and a 200-day moving average of $16.59. The stock has a market capitalization of $103.28 million, a price-to-earnings ratio of 14.52 and a beta of 0.29. Old Point Financial has a fifty-two week low of $13.49 and a fifty-two week high of $20.33.

Old Point Financial (NASDAQ:OPOF) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $0.47 earnings per share for the quarter. Old Point Financial had a return on equity of 6.69% and a net margin of 8.41%. The firm had revenue of $15.78 million for the quarter.

Institutional Investors Weigh In On Old Point Financial

A number of institutional investors and hedge funds have recently modified their holdings of the company. Empowered Funds LLC increased its position in Old Point Financial by 8.2% during the first quarter. Empowered Funds LLC now owns 16,244 shares of the bank’s stock worth $277,000 after buying an additional 1,225 shares during the last quarter. Eastern Bank acquired a new position in shares of Old Point Financial during the 3rd quarter worth approximately $57,000. Finally, PL Capital Advisors LLC increased its holdings in shares of Old Point Financial by 19.2% during the 2nd quarter. PL Capital Advisors LLC now owns 720,861 shares of the bank’s stock worth $10,575,000 after acquiring an additional 116,015 shares during the last quarter. 33.43% of the stock is owned by 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.