Old Point Financial (NASDAQ:OPOF) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
Shares of Old Point Financial stock opened at $26.95 on Wednesday. The firm has a market capitalization of $139.69 million, a P/E ratio of 27.22 and a beta of 0.21. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.60. Old Point Financial has a fifty-two week low of $24.07 and a fifty-two week high of $32.00.
A number of institutional investors have recently modified their holdings of OPOF. Monashee Investment Management LLC bought a new position in Old Point Financial in the 3rd quarter worth $1,980,000. Millennium Management LLC bought a new position in Old Point Financial in the 2nd quarter worth $1,477,000. OLD Point Trust & Financial Services N A boosted its holdings in Old Point Financial by 16.3% in the 3rd quarter. OLD Point Trust & Financial Services N A now owns 291,227 shares of the bank’s stock worth $7,683,000 after buying an additional 40,759 shares during the period. Penn Capital Management Co. Inc. bought a new position in Old Point Financial in the 2nd quarter worth $835,000. Finally, Paloma Partners Management Co bought a new position in Old Point Financial in the 2nd quarter worth $511,000. 34.52% of the stock is owned by institutional investors.
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, retail, and commercial customers. The company offers deposit products, including interest-bearing transaction accounts, money market deposit accounts, savings accounts, time deposits, and demand deposits.
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