Old Point Financial (NASDAQ:OPOF) Now Covered by StockNews.com

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

Old Point Financial Stock Performance

Shares of NASDAQ OPOF opened at $16.52 on Friday. The firm’s 50-day moving average price is $16.92 and its 200-day moving average price is $17.34. Old Point Financial has a 52-week low of $14.00 and a 52-week high of $28.87. The company has a market cap of $83.26 million, a PE ratio of 9.28 and a beta of 0.28. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.70.

Old Point Financial (NASDAQ:OPOF) last issued its quarterly earnings data on Thursday, October 26th. The bank reported $0.27 earnings per share for the quarter. The company had revenue of $14.91 million for the quarter. Old Point Financial had a net margin of 11.65% and a return on equity of 8.82%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. OLD Point Trust & Financial Services N A grew its stake in shares of Old Point Financial by 42.7% during the 2nd quarter. OLD Point Trust & Financial Services N A now owns 286,457 shares of the bank’s stock valued at $4,970,000 after purchasing an additional 85,718 shares during the period. BlackRock Inc. grew its position in Old Point Financial by 306.3% during the third quarter. BlackRock Inc. now owns 37,992 shares of the bank’s stock valued at $1,053,000 after buying an additional 28,642 shares during the period. Geode Capital Management LLC increased its holdings in Old Point Financial by 16.5% during the second quarter. Geode Capital Management LLC now owns 36,564 shares of the bank’s stock valued at $634,000 after buying an additional 5,184 shares during the last quarter. Renaissance Technologies LLC raised its position in Old Point Financial by 18.8% in the second quarter. Renaissance Technologies LLC now owns 27,135 shares of the bank’s stock worth $471,000 after acquiring an additional 4,300 shares during the period. Finally, 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. Institutional investors own 39.51% of the company’s stock.

Old Point Financial Company Profile

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.