Research analysts at StockNews.com initiated coverage on shares of Old Point Financial (NASDAQ:OPOF – Get Free Report) in a report issued on Thursday. The brokerage set a “hold” rating on the bank’s stock.
Separately, TheStreet downgraded shares of Old Point Financial from a “b-” rating to a “c+” rating in a report on Thursday, June 8th.
Old Point Financial Price Performance
Shares of NASDAQ OPOF opened at $18.75 on Thursday. Old Point Financial has a twelve month low of $15.00 and a twelve month high of $29.06. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $93.19 million, a price-to-earnings ratio of 9.24 and a beta of 0.25. The firm has a 50-day moving average of $16.63 and a two-hundred day moving average of $21.46.
Institutional Trading of Old Point Financial
Hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in Old Point Financial by 306.3% during the third quarter. BlackRock Inc. now owns 37,992 shares of the bank’s stock valued at $1,053,000 after buying an additional 28,642 shares in the last quarter. State Street Corp lifted its stake in Old Point Financial by 10.6% during the second quarter. State Street Corp now owns 22,076 shares of the bank’s stock valued at $558,000 after buying an additional 2,122 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Old Point Financial by 5.9% during the first quarter. Dimensional Fund Advisors LP now owns 21,868 shares of the bank’s stock valued at $521,000 after buying an additional 1,215 shares in the last quarter. Morgan Stanley lifted its stake in Old Point Financial by 6.3% during the fourth quarter. Morgan Stanley now owns 8,731 shares of the bank’s stock valued at $236,000 after buying an additional 514 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A lifted its stake in Old Point Financial by 3.5% during the first quarter. OLD Point Trust & Financial Services N A now owns 200,739 shares of the bank’s stock valued at $4,780,000 after buying an additional 6,787 shares in the last quarter. 33.08% of the stock is owned by hedge funds and other 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. The company offers deposit products, including interest-bearing transaction accounts, money market deposit accounts, savings accounts, time deposits, and demand deposits.
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