Old Point Financial (NASDAQ:OPOF) Stock Passes Above 200-Day Moving Average - Here's Why

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)'s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Old Point Financial from a "hold" rating to a "sell" rating in a report on Saturday.

Old Point Financial Stock Performance

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 fifty day simple moving average of $40.10 and a 200 day simple moving average of $35.10. The company has a market capitalization of $203.74 million, a price-to-earnings ratio of 23.45 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 EPS for the quarter. Old Point Financial had a return on equity of 8.20% and a net margin of 10.12%. The company had revenue of $15.43 million for the quarter.

Old Point Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were paid a $0.14 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.4%. Old Point Financial's payout ratio is currently 28.57%.

Institutional Trading of Old Point Financial

A number of institutional investors have recently made changes to their positions in the company. Bridgeway Capital Management LLC boosted its stake in shares of Old Point Financial by 1.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 18,951 shares of the bank's stock worth $494,000 after acquiring an additional 350 shares during the last quarter. Empowered Funds LLC boosted its stake in Old Point Financial by 3.5% during the first quarter. Empowered Funds LLC now owns 19,459 shares of the bank's stock worth $583,000 after buying an additional 667 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Old Point Financial by 6.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 20,416 shares of the bank's stock worth $532,000 after buying an additional 1,246 shares during the last quarter. Credit Industriel ET Commercial acquired a new position in Old Point Financial during the second quarter worth $64,000. Finally, Northern Trust Corp boosted its stake in Old Point Financial by 35.0% during the fourth quarter. Northern Trust Corp now owns 17,440 shares of the bank's stock worth $454,000 after buying an additional 4,521 shares during 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.