Old Point Financial (NASDAQ:OPOF) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Old Point Financial (NASDAQ:OPOF) in a research note published on Saturday morning. The firm issued a hold rating on the bank’s stock.

Old Point Financial Trading Up 3.7 %

Old Point Financial stock opened at $14.53 on Friday. Old Point Financial has a 12 month low of $13.49 and a 12 month high of $22.33. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.65. The stock has a market cap of $72.95 million, a P/E ratio of 11.53 and a beta of 0.27. The company’s fifty day simple moving average is $15.54 and its 200-day simple moving average is $16.63.

Old Point Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Wednesday, March 6th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend was Tuesday, March 5th. Old Point Financial’s dividend payout ratio (DPR) is presently 44.44%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Old Point Financial stock. Empowered Funds LLC increased its holdings in Old Point Financial Co. (NASDAQ:OPOF) by 8.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,244 shares of the bank’s stock after purchasing an additional 1,225 shares during the period. Empowered Funds LLC owned approximately 0.32% of Old Point Financial worth $277,000 at the end of the most recent reporting period. 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.