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

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

Old Point Financial Stock Down 1.2 %

Old Point Financial stock opened at $30.22 on Tuesday. The company has a 50-day simple moving average of $26.78 and a 200-day simple moving average of $22.66. The firm has a market capitalization of $153.46 million, a P/E ratio of 16.07 and a beta of 0.17. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.92 and a current ratio of 0.92. Old Point Financial has a one year low of $13.49 and a one year high of $30.95.

Old Point Financial (NASDAQ:OPOF) last announced its earnings results on Thursday, January 30th. The bank reported $0.57 earnings per share (EPS) for the quarter. Old Point Financial had a net margin of 11.08% and a return on equity of 8.56%.

Institutional Trading of Old Point Financial

A number of hedge funds have recently bought and sold shares of OPOF. PL Capital Advisors LLC lifted its stake in Old Point Financial by 2,506.0% during the fourth quarter. PL Capital Advisors LLC now owns 18,785,638 shares of the bank’s stock valued at $489,554,000 after buying an additional 18,064,777 shares in the last quarter. Fourthstone LLC grew its holdings in Old Point Financial by 322.4% during the fourth quarter. Fourthstone LLC now owns 344,620 shares of the bank’s stock valued at $8,981,000 after purchasing an additional 263,026 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Old Point Financial by 18.1% during the fourth quarter. Renaissance Technologies LLC now owns 35,929 shares of the bank’s stock valued at $936,000 after purchasing an additional 5,500 shares during the last quarter. Northern Trust Corp boosted its position in shares of Old Point Financial by 35.0% in the fourth quarter. Northern Trust Corp now owns 17,440 shares of the bank’s stock valued at $454,000 after acquiring an additional 4,521 shares during the period. Finally, OLD Point Trust & Financial Services N A boosted its position in shares of Old Point Financial by 1.1% in the fourth quarter. OLD Point Trust & Financial Services N A now owns 263,439 shares of the bank’s stock valued at $6,865,000 after acquiring an additional 2,901 shares during the period. 33.43% of the stock is 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.