StockNews.com Initiates Coverage on Old Point Financial (NASDAQ:OPOF)

StockNews.com began coverage on shares of Old Point Financial (NASDAQ:OPOF) in a report released on Wednesday. The brokerage issued a hold rating on the bank’s stock.

Old Point Financial Price Performance

Shares of NASDAQ:OPOF opened at $14.70 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $74.09 million, a price-to-earnings ratio of 9.55 and a beta of 0.20. The business has a 50-day simple moving average of $16.54 and a two-hundred day simple moving average of $17.00. Old Point Financial has a fifty-two week low of $14.00 and a fifty-two week high of $23.88.

Old Point Financial (NASDAQ:OPOF) last announced its quarterly earnings results on Tuesday, January 30th. The bank reported $0.29 EPS for the quarter. Old Point Financial had a net margin of 9.60% and a return on equity of 7.51%. The firm had revenue of $15.35 million during the quarter.

Old Point Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Wednesday, March 6th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend was Tuesday, March 5th. Old Point Financial’s payout ratio is currently 36.36%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Morgan Stanley increased its position in shares of Old Point Financial by 6.3% during the 4th quarter. Morgan Stanley now owns 8,731 shares of the bank’s stock valued at $236,000 after purchasing an additional 514 shares during the last quarter. Northern Trust Corp purchased a new stake in Old Point Financial during the fourth quarter valued at approximately $259,000. Dimensional Fund Advisors LP raised its position in Old Point Financial by 5.9% in the first quarter. Dimensional Fund Advisors LP now owns 21,868 shares of the bank’s stock worth $521,000 after acquiring an additional 1,215 shares during the period. State Street Corp boosted its stake in shares of Old Point Financial by 10.6% during the 2nd quarter. State Street Corp now owns 22,076 shares of the bank’s stock worth $558,000 after acquiring an additional 2,122 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Old Point Financial by 18.8% during the 2nd quarter. Renaissance Technologies LLC now owns 27,135 shares of the bank’s stock valued at $471,000 after acquiring an additional 4,300 shares during the 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.