Old Point Financial (NASDAQ:OPOF) Share Price Passes Above 200 Day Moving Average - Here's What Happened

Shares of Old Point Financial Corporation (NASDAQ:OPOF - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $32.80 and traded as high as $40.68. Old Point Financial shares last traded at $40.68, with a volume of 78,307 shares changing hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Old Point Financial to a "hold" rating in a research report on Saturday.

Old Point Financial Trading Down 0.0%

The firm has a market capitalization of $207.82 million, a P/E ratio of 20.75 and a beta of -0.31. The firm has a 50 day moving average price of $39.66 and a two-hundred day moving average price of $33.14. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.90 and a current ratio of 0.90.

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

Old Point Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were issued a dividend of $0.14 per share. The ex-dividend date was Monday, June 9th. This represents a $0.56 annualized dividend and a yield of 1.38%. Old Point Financial's dividend payout ratio (DPR) is currently 28.57%.

Hedge Funds Weigh In On Old Point Financial

Institutional investors have recently bought and sold shares of the stock. WealthTrak Capital Management LLC bought a new position in Old Point Financial during the fourth quarter valued at about $47,000. Goldman Sachs Group Inc. bought a new position in shares of Old Point Financial in the first quarter worth about $339,000. Jane Street Group LLC bought a new position in shares of Old Point Financial in the first quarter worth about $392,000. Northern Trust Corp increased 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 worth $454,000 after purchasing an additional 4,521 shares during the period. Finally, Bridgeway Capital Management LLC increased 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 purchasing an additional 350 shares during the period. 33.43% of the stock is currently owned by institutional investors.

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.