Old Point Financial Co. (NASDAQ:OPOF – Get Rating) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $24.61 and traded as high as $24.81. Old Point Financial shares last traded at $24.04, with a volume of 290 shares changing hands.
The company’s 50-day simple moving average is $25.37 and its 200-day simple moving average is $24.61. The company has a market cap of $122.53 million, a price-to-earnings ratio of 16.93 and a beta of 0.82.
Old Point Financial (NASDAQ:OPOF – Get Rating) last issued its quarterly earnings data on Thursday, April 28th. The bank reported $0.39 earnings per share (EPS) for the quarter. Old Point Financial had a net margin of 13.32% and a return on equity of 6.35%. The company had revenue of $13.15 million during the quarter.
In other news, major shareholder Pl Capital Advisors, Llc acquired 69,609 shares of the stock in a transaction on Wednesday, March 23rd. The stock was bought at an average price of $25.38 per share, with a total value of $1,766,676.42. Following the completion of the transaction, the insider now directly owns 625,246 shares of the company’s stock, valued at $15,868,743.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 69,974 shares of company stock valued at $1,775,996 in the last ninety days. 16.18% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new stake in shares of Old Point Financial during the first quarter worth approximately $39,000. Morgan Stanley grew its position in shares of Old Point Financial by 52.0% during the second quarter. Morgan Stanley now owns 5,630 shares of the bank’s stock worth $136,000 after buying an additional 1,925 shares in the last quarter. BlackRock Inc. grew its position in shares of Old Point Financial by 4.2% during the fourth quarter. BlackRock Inc. now owns 11,526 shares of the bank’s stock worth $270,000 after buying an additional 467 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Old Point Financial by 2.3% during the third quarter. Dimensional Fund Advisors LP now owns 20,480 shares of the bank’s stock worth $439,000 after buying an additional 468 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Old Point Financial by 36.3% during the third quarter. Geode Capital Management LLC now owns 20,532 shares of the bank’s stock worth $440,000 after buying an additional 5,473 shares in the last quarter. 32.57% of the stock is owned by institutional investors and hedge funds.
About Old Point Financial (NASDAQ:OPOF)
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. The company offers deposit products, including interest-bearing transaction accounts, money market deposit accounts, savings accounts, time deposits, and demand deposits.
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