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

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%.

Shares of Old Point Financial Corporation (NASDAQ:OPOF - Get Free Report) passed 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 traded.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Old Point Financial from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd.

Old Point Financial Stock Up 0.6%

The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $206.90 million, a P/E ratio of 23.82 and a beta of -0.32. The company has a fifty day moving average price of $40.17 and a 200-day moving average price of $35.82.

Old Point Financial (NASDAQ:OPOF - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The bank reported $0.43 earnings per share (EPS) for the quarter. The business had revenue of $15.43 million for the quarter. Old Point Financial had a return on equity of 8.20% and a net margin of 10.12%.

Old Point Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, June 9th. Old Point Financial's dividend payout ratio (DPR) is presently 32.94%.

Institutional Trading of Old Point Financial

A number of large investors have recently made changes to their positions in OPOF. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Old Point Financial in the 2nd quarter valued at about $36,000. Credit Industriel ET Commercial bought a new stake in shares of Old Point Financial in the 2nd quarter valued at approximately $64,000. Gratus Wealth Advisors LLC purchased a new position in shares of Old Point Financial in the 2nd quarter worth approximately $202,000. Bay Capital Advisors LLC bought a new position in shares of Old Point Financial during the 2nd quarter valued at approximately $231,000. Finally, Mcrae Capital Management Inc. purchased a new stake in Old Point Financial during the 2nd quarter valued at $248,000. 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.

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