Old Point Financial (NASDAQ:OPOF) Shares Pass Above Two Hundred Day Moving Average - Here's Why

Old Point Financial Co. (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 $29.52 and traded as high as $39.83. Old Point Financial shares last traded at $39.01, with a volume of 13,426 shares.

Analysts Set New Price Targets

Separately, Wall Street Zen assumed coverage on Old Point Financial in a report on Tuesday, April 15th. They set a "hold" rating for the company.

Old Point Financial Price Performance

The company has a debt-to-equity ratio of 0.35, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $203.89 million, a price-to-earnings ratio of 21.24 and a beta of -0.33. The stock has a fifty day moving average of $37.62 and a 200 day moving average of $29.98.

Old Point Financial (NASDAQ:OPOF - Get Free Report) last released its earnings results on Wednesday, April 30th. The bank reported $0.39 EPS for the quarter. Old Point Financial had a return on equity of 8.56% and a net margin of 11.08%. The firm had revenue of $15.86 million during the quarter.

Old Point Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Monday, June 9th. Old Point Financial's dividend payout ratio (DPR) is 28.57%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. WealthTrak Capital Management LLC acquired a new position in Old Point Financial in the fourth quarter valued at approximately $47,000. Goldman Sachs Group Inc. acquired a new position in Old Point Financial in the first quarter valued at approximately $339,000. Jane Street Group LLC acquired a new position in Old Point Financial in the first quarter valued at approximately $392,000. Northern Trust Corp lifted its holdings in 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 period. Finally, Bridgeway Capital Management LLC lifted its holdings in Old Point Financial by 1.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 18,951 shares of the bank's stock valued at $494,000 after acquiring an additional 350 shares during the period. 33.43% of the stock is owned by institutional investors and hedge funds.

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.