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

StockNews.com assumed coverage on shares of Old Point Financial (NASDAQ:OPOF - Free Report) in a report released on Monday morning. The firm issued a hold rating on the bank's stock.

Old Point Financial Stock Performance

Shares of NASDAQ OPOF traded down $0.55 during midday trading on Monday, hitting $17.20. 2,783 shares of the company's stock were exchanged, compared to its average volume of 2,549. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.92 and a quick ratio of 0.92. The stock's 50 day moving average price is $17.17 and its 200-day moving average price is $17.18. The firm has a market cap of $86.69 million, a P/E ratio of 11.53 and a beta of 0.20. Old Point Financial has a twelve month low of $14.00 and a twelve month high of $24.55.

Old Point Financial (NASDAQ:OPOF - Get Free Report) last issued its quarterly earnings data on Tuesday, January 30th. The bank reported $0.29 earnings per share (EPS) for the quarter. The business had revenue of $15.35 million during the quarter. Old Point Financial had a return on equity of 7.61% and a net margin of 9.60%.

Old Point Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Wednesday, March 6th were given 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 yield of 3.26%. Old Point Financial's dividend payout ratio (DPR) is 36.36%.

Institutional Investors Weigh In On Old Point Financial

A number of institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley lifted 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 acquiring an additional 514 shares during the last quarter. Northern Trust Corp acquired a new stake in shares of Old Point Financial during the 4th quarter valued at $259,000. Dimensional Fund Advisors LP lifted its position in shares of Old Point Financial by 5.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 21,868 shares of the bank's stock valued at $521,000 after acquiring an additional 1,215 shares during the last quarter. State Street Corp raised its stake in Old Point Financial by 10.6% during the 2nd quarter. State Street Corp now owns 22,076 shares of the bank's stock valued at $558,000 after purchasing an additional 2,122 shares during the period. Finally, Renaissance Technologies LLC raised its stake in 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 purchasing an additional 4,300 shares during the period. 33.43% of the stock is currently owned by institutional investors and hedge funds.

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. The company offers deposit products, including interest-bearing transaction accounts, money market deposit accounts, savings accounts, time deposits, and demand deposits.