Old Point Financial (NASDAQ:OPOF) Shares Pass Above 200-Day Moving Average - What's Next?

Key Points

• Old Point Financial's stock has recently crossed above its 200-day moving average of $34.82, reaching a trading high of $40.62.
• The company reported $0.43 earnings per share for the last quarter and announced a quarterly dividend of $0.14, resulting in a 1.39% yield.
• Institutional investors and hedge funds now hold 33.43% of Old Point Financial's stock, with significant increases in holdings from several investors in the past quarter.

Old Point Financial Corporation (NASDAQ:OPOF - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $34.82 and traded as high as $40.62. Old Point Financial shares last traded at $40.29, with a volume of 12,804 shares trading hands.

Wall Street Analyst Weigh In

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

Old Point Financial Stock Down 0.7%

The business's fifty day moving average price is $40.08 and its 200 day moving average price is $34.92. The firm has a market capitalization of $203.74 million, a price-to-earnings ratio of 23.45 and a beta of -0.32. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.34.

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

Old Point Financial Dividend Announcement

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

Institutional Investors Weigh In On Old Point Financial

Several hedge funds have recently modified their holdings of OPOF. Fourthstone LLC raised its position in Old Point Financial by 322.4% in the fourth quarter. Fourthstone LLC now owns 344,620 shares of the bank's stock worth $8,981,000 after acquiring an additional 263,026 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Old Point Financial in the first quarter valued at $392,000. Goldman Sachs Group Inc. purchased a new position in shares of Old Point Financial in the first quarter valued at $339,000. Bay Capital Advisors LLC purchased a new position in shares of Old Point Financial in the second quarter valued at $231,000. Finally, Renaissance Technologies LLC increased its position in shares of Old Point Financial by 18.1% in the fourth quarter. Renaissance Technologies LLC now owns 35,929 shares of the bank's stock valued at $936,000 after buying an additional 5,500 shares in the last quarter. 33.43% of the stock is owned by institutional investors and hedge funds.

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.