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

Posted by Jessica Moore on May 7th, 2024

StockNews.com assumed coverage on shares of Old Point Financial (NASDAQ:OPOF – Free Report) in a research note issued to investors on Friday morning. The firm issued a hold rating on the bank’s stock.

Old Point Financial Price Performance

Shares of NASDAQ OPOF opened at $13.77 on Friday. Old Point Financial has a twelve month low of $13.49 and a twelve month high of $22.33. The stock’s 50 day moving average price is $15.82 and its 200-day moving average price is $16.70. The company has a market capitalization of $69.13 million, a PE ratio of 10.93 and a beta of 0.27. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.65.

Old Point Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Wednesday, March 6th were paid a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.07%. Old Point Financial’s payout ratio is presently 44.44%.

Hedge Funds Weigh In On Old Point Financial

An institutional investor recently raised its position in Old Point Financial stock. Empowered Funds LLC lifted its holdings in Old Point Financial Co. (NASDAQ:OPOF – Free Report) by 8.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,244 shares of the bank’s stock after buying 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. 33.43% of the stock is currently owned by institutional investors.

Old Point Financial Company Profile

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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.