Old Point Financial Co. (NASDAQ:OPOF) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in Old Point Financial Co. (NASDAQ:OPOF) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 45,205 shares of the bank’s stock after buying an additional 693 shares during the period. Geode Capital Management LLC owned approximately 0.89% of Old Point Financial worth $874,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Empowered Funds LLC boosted its position in 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 buying an additional 938 shares during the period. Eastern Bank purchased a new position in Old Point Financial in the 3rd quarter valued at approximately $57,000. Finally, Fourthstone LLC boosted its position in Old Point Financial by 44.9% in the 3rd quarter. Fourthstone LLC now owns 81,594 shares of the bank’s stock valued at $1,576,000 after buying an additional 25,273 shares during the period. Hedge funds and other institutional investors own 33.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Old Point Financial in a research report on Monday, January 6th. They issued a “hold” rating for the company.

Old Point Financial Stock Performance

Shares of OPOF stock opened at $25.30 on Friday. The stock has a market capitalization of $128.47 million, a PE ratio of 15.81 and a beta of 0.26. The firm has a 50 day moving average of $23.04 and a two-hundred day moving average of $19.68. Old Point Financial Co. has a 52 week low of $13.49 and a 52 week high of $28.00. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.35.

Old Point Financial (NASDAQ:OPOF) last released its quarterly earnings data on Thursday, October 24th. The bank reported $0.47 earnings per share (EPS) for the quarter. The business had revenue of $15.78 million during the quarter. Old Point Financial had a net margin of 9.47% and a return on equity of 7.38%.

Old Point Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Wednesday, December 4th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $0.56 annualized dividend and a dividend yield of 2.21%. Old Point Financial’s dividend payout ratio (DPR) is currently 35.00%.

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.