Old Point Financial (NASDAQ:OPOF) Rating Lowered to Sell at Wall Street Zen

Key Points

• Old Point Financial's stock has been downgraded from a "hold" rating to a "sell" rating by analysts at Wall Street Zen.
• The company's market capitalization stands at $203.74 million, with a P/E ratio of 23.45 and recent quarterly earnings of $0.43 EPS.
• Institutional investors hold 33.43% of Old Point Financial's shares, with several hedge funds recently acquiring new positions in the company.

Old Point Financial (NASDAQ:OPOF - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

Old Point Financial Price Performance

Old Point Financial stock traded up $0.28 during mid-day trading on Friday, reaching $40.15. 6,512 shares of the company were exchanged, compared to its average volume of 19,629. The company has a fifty day simple moving average of $40.10 and a 200-day simple moving average of $35.17. Old Point Financial has a 12 month low of $17.02 and a 12 month high of $41.61. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $205.17 million, a PE ratio of 23.62 and a beta of -0.32.

Old Point Financial (NASDAQ:OPOF - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The bank reported $0.43 earnings per share (EPS) for the quarter. Old Point Financial had a net margin of 10.12% and a return on equity of 8.20%. The business had revenue of $15.43 million during the quarter.

Institutional Trading of Old Point Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OPOF. Fourthstone LLC boosted its stake in shares of Old Point Financial by 322.4% in the 4th quarter. Fourthstone LLC now owns 344,620 shares of the bank's stock worth $8,981,000 after buying an additional 263,026 shares during the last quarter. Jane Street Group LLC bought a new stake in Old Point Financial during the first quarter worth about $392,000. Goldman Sachs Group Inc. bought a new stake in shares of Old Point Financial in the 1st quarter valued at about $339,000. Bay Capital Advisors LLC purchased a new stake in Old Point Financial during the 2nd quarter valued at about $231,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Old Point Financial by 18.1% during the fourth quarter. Renaissance Technologies LLC now owns 35,929 shares of the bank's stock worth $936,000 after purchasing an additional 5,500 shares during the period. 33.43% of the stock is owned by institutional investors.

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.