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

Old Point Financial Corporation (NASDAQ:OPOF - Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $32.14 and traded as high as $40.44. Old Point Financial shares last traded at $39.27, with a volume of 19,394 shares traded.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen began coverage on shares of Old Point Financial in a research report on Tuesday, April 15th. They issued a "hold" rating on the stock.

Old Point Financial Stock Up 1.0%

The stock has a market cap of $202.71 million, a P/E ratio of 20.24 and a beta of -0.30. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.34. The firm's fifty day moving average is $39.42 and its 200 day moving average is $32.14.

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

Old Point Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a $0.14 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.56 annualized dividend and a dividend yield of 1.41%. Old Point Financial's dividend payout ratio is currently 28.57%.

Institutional Investors Weigh In On Old Point Financial

Several institutional investors and hedge funds have recently made changes to their positions in OPOF. Jane Street Group LLC acquired a new stake in shares of Old Point Financial during the 1st quarter worth about $392,000. Empowered Funds LLC grew 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. Goldman Sachs Group Inc. acquired a new stake in shares of Old Point Financial during the first quarter worth approximately $339,000. Bridgeway Capital Management LLC increased its holdings in shares of Old Point Financial by 1.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 18,951 shares of the bank's stock worth $494,000 after buying an additional 350 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Old Point Financial by 35.0% in the fourth quarter. Northern Trust Corp now owns 17,440 shares of the bank's stock valued at $454,000 after acquiring an additional 4,521 shares during the last quarter. Institutional investors and hedge funds own 33.43% of the company's stock.

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.