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

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

Old Point Financial Stock Performance

Shares of Old Point Financial stock opened at $22.04 on Wednesday. Old Point Financial has a one year low of $13.49 and a one year high of $22.51. 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 $19.50 and its 200-day moving average is $17.51. The firm has a market cap of $111.92 million, a price-to-earnings ratio of 13.78 and a beta of 0.29.

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. The firm had revenue of $15.78 million during the quarter. Old Point Financial had a return on equity of 7.38% and a net margin of 9.47%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Eastern Bank acquired a new position in Old Point Financial in the third quarter valued at about $57,000. Empowered Funds LLC boosted its stake in shares of Old Point Financial by 5.4% in the 3rd 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 last quarter. Geode Capital Management LLC grew its stake in Old Point Financial by 1.6% during the third quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock worth $874,000 after purchasing an additional 693 shares during the period. Fourthstone LLC increased its stake in Old Point Financial by 44.9% in the third 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 in the last quarter. Finally, PL Capital Advisors LLC increased its holdings in shares of Old Point Financial by 19.2% during the second quarter. PL Capital Advisors LLC now owns 720,861 shares of the bank’s stock valued at $10,575,000 after acquiring an additional 116,015 shares in the last quarter. 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.