Old Point Financial Co. (NASDAQ:OPOF) Major Shareholder Pl Capital Advisors, Llc Purchases 17,403 Shares

Old Point Financial Co. (NASDAQ:OPOF) major shareholder Pl Capital Advisors, Llc bought 17,403 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was purchased at an average cost of $14.25 per share, for a total transaction of $247,992.75. Following the transaction, the insider now owns 622,249 shares in the company, valued at approximately $8,867,048.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Old Point Financial Stock Up 6.0 %

NASDAQ:OPOF traded up $0.85 on Friday, hitting $15.00. 130 shares of the company’s stock were exchanged, compared to its average volume of 2,957. The firm has a 50-day moving average price of $15.39 and a 200-day moving average price of $16.59. Old Point Financial Co. has a 52 week low of $13.49 and a 52 week high of $22.33. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.92. The company has a market cap of $76.20 million, a P/E ratio of 11.90 and a beta of 0.27.

Old Point Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Wednesday, March 6th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.56 annualized dividend and a yield of 3.73%. Old Point Financial’s dividend payout ratio (DPR) is presently 44.44%.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Old Point Financial in a report on Saturday, May 11th. They issued a “hold” rating on the stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Old Point Financial stock. Empowered Funds LLC lifted its position in Old Point Financial Co. (NASDAQ:OPOF) by 8.2% in the 1st 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 buying an additional 1,225 shares during the quarter. Empowered Funds LLC owned about 0.32% of Old Point Financial worth $277,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 33.43% of the company’s stock.

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.