Old Point Financial (NASDAQ:OPOF) Stock Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Old Point Financial's shares have surpassed their 200-day moving average of $35.82, trading as high as $40.50, which reflects positive market activity.
• Wall Street analysts recently downgraded Old Point Financial from a "hold" to a "sell" rating, indicating a more cautious outlook on the stock's performance.
• The company has announced a quarterly dividend of $0.14, translating to an annualized dividend yield of 1.4%, with a payout ratio of 32.94%.

Old Point Financial Corporation (NASDAQ:OPOF - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $35.82 and traded as high as $40.50. Old Point Financial shares last traded at $40.49, with a volume of 6,532 shares changing hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded Old Point Financial from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd.

Old Point Financial Price Performance

The business has a 50-day moving average price of $40.39 and a 200 day moving average price of $36.13. The company has a market cap of $211.35 million, a price-to-earnings ratio of 24.35 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 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 during the quarter.

Old Point Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were issued a $0.14 dividend. The ex-dividend date 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 dividend payout ratio is presently 32.94%.

Institutional Trading of Old Point Financial

A number of hedge funds have recently modified their holdings of OPOF. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Old Point Financial in the second quarter valued at $36,000. Credit Industriel ET Commercial purchased a new stake in shares of Old Point Financial during the second quarter worth $64,000. Bank of America Corp DE raised its holdings in shares of Old Point Financial by 4,637.8% during the second quarter. Bank of America Corp DE now owns 1,753 shares of the bank's stock worth $69,000 after acquiring an additional 1,716 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Old Point Financial during the second quarter worth $75,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Old Point Financial during the second quarter worth $83,000. Hedge funds and other institutional investors own 33.43% of the company's stock.

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.