Old Point Financial (NASDAQ:OPOF) Upgraded at StockNews.com

StockNews.com upgraded shares of Old Point Financial (NASDAQ:OPOF) from a hold rating to a buy rating in a research note released on Thursday.

Old Point Financial Stock Performance

Old Point Financial stock opened at $29.94 on Thursday. Old Point Financial has a fifty-two week low of $13.49 and a fifty-two week high of $30.95. The stock has a market cap of $152.04 million, a price-to-earnings ratio of 15.93 and a beta of 0.17. The stock’s 50 day simple moving average is $28.12 and its two-hundred day simple moving average is $23.81. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.92 and a current ratio of 0.92.

Old Point Financial (NASDAQ:OPOF) last issued its quarterly earnings results on Thursday, January 30th. The bank reported $0.57 earnings per share for the quarter. Old Point Financial had a return on equity of 8.56% and a net margin of 11.08%.

Old Point Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 5th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Wednesday, March 5th. Old Point Financial’s payout ratio is currently 29.79%.

Hedge Funds Weigh In On Old Point Financial

A number of institutional investors and hedge funds have recently made changes to their positions in OPOF. WealthTrak Capital Management LLC purchased a new stake in shares of Old Point Financial in the 4th quarter worth approximately $47,000. Northern Trust Corp boosted 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 worth $454,000 after acquiring an additional 4,521 shares in the last quarter. Bridgeway Capital Management LLC grew its stake in shares of Old Point Financial by 1.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 18,951 shares of the bank’s stock worth $494,000 after acquiring an additional 350 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Old Point Financial by 6.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 20,416 shares of the bank’s stock valued at $532,000 after acquiring an additional 1,246 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Old Point Financial by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock worth $874,000 after purchasing an additional 693 shares during 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.