Old Point Financial (NASDAQ:OPOF) Coverage Initiated at StockNews.com

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

Old Point Financial Price Performance

OPOF opened at $20.33 on Friday. The stock has a market capitalization of $103.28 million, a P/E ratio of 14.52 and a beta of 0.29. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. Old Point Financial has a 12-month low of $13.49 and a 12-month high of $20.33. The stock has a 50-day moving average price of $18.66 and a 200-day moving average price of $16.60.

Old Point Financial (NASDAQ:OPOF) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $0.47 EPS for the quarter. The business had revenue of $15.78 million for the quarter. Old Point Financial had a net margin of 8.41% and a return on equity of 6.69%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in OPOF. PL Capital Advisors LLC increased its holdings in Old Point Financial by 19.2% during the 2nd quarter. PL Capital Advisors LLC now owns 720,861 shares of the bank’s stock valued at $10,575,000 after purchasing an additional 116,015 shares during the period. Empowered Funds LLC grew its position in shares of Old Point Financial by 8.2% in the 1st quarter. Empowered Funds LLC now owns 16,244 shares of the bank’s stock worth $277,000 after buying an additional 1,225 shares during the last quarter. Finally, Eastern Bank purchased a new position in shares of Old Point Financial during the third quarter valued at approximately $57,000. 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.