Old Point Financial (NASDAQ:OPOF) Shares Pass Above 200 Day Moving Average - Time to Sell?

Old Point Financial Corporation (NASDAQ:OPOF - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $31.48 and traded as high as $39.37. Old Point Financial shares last traded at $39.29, with a volume of 50,538 shares trading hands.

Wall Street Analysts Forecast Growth

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

Old Point Financial Trading Up 0.8%

The stock has a market capitalization of $200.77 million, a price-to-earnings ratio of 20.05 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 has a 50-day moving average of $39.06 and a 200 day moving average of $31.48.

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

Old Point Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Monday, June 9th. Old Point Financial's payout ratio is currently 28.57%.

Institutional Trading of Old Point Financial

A number of hedge funds and other institutional investors have recently modified their holdings of OPOF. PL Capital Advisors LLC lifted its stake in Old Point Financial by 2,506.0% during the fourth quarter. PL Capital Advisors LLC now owns 18,785,638 shares of the bank's stock valued at $489,554,000 after purchasing an additional 18,064,777 shares during the last quarter. Fourthstone LLC boosted its stake in Old Point Financial by 322.4% in the 4th quarter. Fourthstone LLC now owns 344,620 shares of the bank's stock worth $8,981,000 after purchasing an additional 263,026 shares during the period. Jane Street Group LLC purchased a new position in Old Point Financial during the 1st quarter worth approximately $392,000. Goldman Sachs Group Inc. purchased a new position in shares of Old Point Financial during the first quarter valued at $339,000. Finally, Renaissance Technologies LLC lifted 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 worth $936,000 after purchasing an additional 5,500 shares in the last quarter. Institutional investors 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.

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