Old Point Financial (NASDAQ:OPOF) Releases Quarterly Earnings Results

Key Points

• Old Point Financial reported earnings of $0.43 per share for the quarter, with a net margin of 11.52% and a return on equity of 8.58%.
• The bank declared a quarterly dividend of $0.14, which gives an annualized dividend of $0.56 and a yield of 1.39%.
• Institutional investors own 33.43% of Old Point Financial, with recent increases from firms such as Empowered Funds LLC and Goldman Sachs Group Inc.

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

Old Point Financial Trading Down 0.7%

NASDAQ OPOF traded down $0.28 on Friday, reaching $39.87. The stock had a trading volume of 13,044 shares, compared to its average volume of 19,720. The firm has a market capitalization of $203.74 million, a price-to-earnings ratio of 23.45 and a beta of -0.31. 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 12-month low of $17.02 and a 12-month high of $41.61. The stock has a fifty day moving average price of $40.08 and a two-hundred day moving average price of $34.92.

Old Point Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.4%. The ex-dividend date was Monday, June 9th. Old Point Financial's dividend payout ratio (DPR) is 28.57%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Old Point Financial to a "hold" rating in a research report on Saturday, July 5th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Empowered Funds LLC lifted its stake in Old Point Financial by 3.5% during the 1st quarter. Empowered Funds LLC now owns 19,459 shares of the bank's stock worth $583,000 after acquiring an additional 667 shares in the last quarter. Jane Street Group LLC purchased a new stake in Old Point Financial during the first quarter worth about $392,000. Finally, Goldman Sachs Group Inc. purchased a new stake in Old Point Financial during the first quarter worth about $339,000. 33.43% of the stock is currently owned by hedge funds and other institutional investors.

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