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

Old Point Financial Co. (NASDAQ:OPOF - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 changing hands.

Analysts Set New Price Targets

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

Old Point Financial Trading Down 0.1%

The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.92 and a current ratio of 0.92. The business's 50-day moving average is $37.22 and its two-hundred day moving average is $29.66. The stock has a market capitalization of $203.69 million, a PE ratio of 21.22 and a beta of -0.33.

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 company had revenue of $15.86 million during the quarter.

Old Point Financial Announces Dividend

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

Institutional Investors Weigh In On Old Point Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of OPOF. PL Capital Advisors LLC lifted its holdings in Old Point Financial by 2,506.0% in the fourth quarter. PL Capital Advisors LLC now owns 18,785,638 shares of the bank's stock valued at $489,554,000 after acquiring an additional 18,064,777 shares during the period. Fourthstone LLC lifted its holdings in Old Point Financial by 322.4% in the fourth quarter. Fourthstone LLC now owns 344,620 shares of the bank's stock valued at $8,981,000 after acquiring an additional 263,026 shares during the period. Jane Street Group LLC acquired a new stake in Old Point Financial in the first quarter valued at $392,000. Goldman Sachs Group Inc. acquired a new position in shares of Old Point Financial during the 1st quarter worth $339,000. Finally, Renaissance Technologies LLC raised its stake in shares of Old Point Financial by 18.1% during the 4th quarter. Renaissance Technologies LLC now owns 35,929 shares of the bank's stock worth $936,000 after buying an additional 5,500 shares during the last quarter. Institutional investors and hedge funds 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.