Old Point Financial (NASDAQ:OPOF) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Old Point Financial (NASDAQ:OPOF) from a hold rating to a buy rating in a research report report published on Thursday morning.

Old Point Financial Stock Down 0.3 %

OPOF stock opened at $29.94 on Thursday. The stock has a market capitalization of $152.04 million, a P/E ratio of 15.93 and a beta of 0.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.92 and a quick ratio of 0.92. Old Point Financial has a 1-year low of $13.49 and a 1-year high of $30.95. The business has a fifty day moving average price of $28.12 and a 200-day moving average price of $23.81.

Old Point Financial (NASDAQ:OPOF) last issued 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%.

Old Point Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 5th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Wednesday, March 5th. Old Point Financial’s dividend payout ratio (DPR) is presently 29.79%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of OPOF. WealthTrak Capital Management LLC purchased a new stake in shares of Old Point Financial during the 4th quarter valued at about $47,000. Northern Trust Corp boosted its holdings 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 worth $454,000 after buying an additional 4,521 shares during the last quarter. Bridgeway Capital Management LLC grew its position in Old Point Financial by 1.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 18,951 shares of the bank’s stock valued at $494,000 after buying an additional 350 shares during the period. Dimensional Fund Advisors LP increased its holdings in Old Point Financial by 6.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 20,416 shares of the bank’s stock valued at $532,000 after buying an additional 1,246 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Old Point Financial by 1.6% in the third quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock worth $874,000 after acquiring an additional 693 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.