Old Point Financial (NASDAQ:OPOF) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Old Point Financial Co. (NASDAQ:OPOF) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $20.71 and traded as high as $24.47. Old Point Financial shares last traded at $24.40, with a volume of 3,469 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Old Point Financial in a research report on Thursday. They issued a “hold” rating for the company.

Old Point Financial Stock Up 0.0 %

The firm has a market cap of $123.95 million, a price-to-earnings ratio of 15.25 and a beta of 0.26. The stock’s 50 day moving average is $24.29 and its 200 day moving average is $20.71. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Wednesday, December 4th were paid 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 yield of 2.30%. Old Point Financial’s dividend payout ratio is currently 35.00%.

Institutional Investors Weigh In On Old Point Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in shares of Old Point Financial by 1.6% during 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 last quarter. Empowered Funds LLC increased its stake 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 worth $356,000 after acquiring an additional 938 shares during the last quarter. Eastern Bank purchased a new stake in shares of Old Point Financial during the 3rd quarter worth about $57,000. Finally, Fourthstone LLC raised its position in Old Point Financial by 44.9% during the third quarter. Fourthstone LLC now owns 81,594 shares of the bank’s stock valued at $1,576,000 after acquiring an additional 25,273 shares in the last quarter. 33.43% of the stock is currently owned by 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.