Wall Street Zen Upgrades Old Point Financial (NASDAQ:OPOF) to "Hold"

Wall Street Zen upgraded shares of Old Point Financial (NASDAQ:OPOF - Free Report) to a hold rating in a research note published on Saturday.

Old Point Financial Stock Up 0.6%

Shares of NASDAQ OPOF traded up $0.23 during trading on Friday, reaching $40.90. 24,353 shares of the stock were exchanged, compared to its average volume of 14,248. The company has a market capitalization of $209.00 million, a price-to-earnings ratio of 20.87 and a beta of -0.31. The business's 50-day moving average price is $39.70 and its 200 day moving average price is $33.19. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.34. Old Point Financial has a twelve month low of $14.62 and a twelve month high of $41.33.

Old Point Financial (NASDAQ:OPOF - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The bank reported $0.39 EPS for the quarter. Old Point Financial had a net margin of 11.52% and a return on equity of 8.58%. The firm had revenue of $15.86 million for the quarter.

Old Point Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were paid a dividend of $0.14 per share. The ex-dividend date was Monday, June 9th. This represents a $0.56 dividend on an annualized basis and a yield of 1.37%. Old Point Financial's dividend payout ratio (DPR) is presently 28.57%.

Hedge Funds Weigh In On Old Point Financial

A number of institutional investors have recently made changes to their positions in the business. WealthTrak Capital Management LLC acquired a new stake in shares of Old Point Financial during the fourth quarter worth approximately $47,000. Goldman Sachs Group Inc. bought a new position in Old Point Financial during the 1st quarter valued at $339,000. Jane Street Group LLC acquired a new position in Old Point Financial during the 1st quarter worth $392,000. Northern Trust Corp increased its position in shares of Old Point Financial by 35.0% in the 4th quarter. Northern Trust Corp now owns 17,440 shares of the bank's stock worth $454,000 after purchasing an additional 4,521 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its stake in shares of Old Point Financial by 1.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 18,951 shares of the bank's stock valued at $494,000 after purchasing an additional 350 shares in the last quarter. 33.43% of the stock is 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. It offers deposit products, including interest-bearing transaction accounts, money market deposit accounts, savings accounts, time deposits, and demand deposits.