Old Point Financial (OPOF) Downgraded to “Sell” at ValuEngine

ValuEngine cut shares of Old Point Financial (NASDAQ:OPOF) from a hold rating to a sell rating in a report published on Thursday.

Shares of OPOF stock opened at $20.82 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $110.93 million, a P/E ratio of 21.62 and a beta of 0.43. Old Point Financial has a one year low of $19.00 and a one year high of $31.50.

Old Point Financial (NASDAQ:OPOF) last announced its quarterly earnings results on Wednesday, October 24th. The bank reported $0.32 EPS for the quarter. The business had revenue of $11.89 million for the quarter. Old Point Financial had a return on equity of 5.17% and a net margin of 1.26%.

The business also recently declared a quarterly dividend, which was paid on Friday, December 28th. Investors of record on Tuesday, December 4th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 2.11%. The ex-dividend date was Monday, December 3rd.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Penn Capital Management Co. Inc. raised its position in Old Point Financial by 7.1% in the 3rd quarter. Penn Capital Management Co. Inc. now owns 30,981 shares of the bank’s stock valued at $926,000 after purchasing an additional 2,043 shares during the last quarter. Bank of America Corp DE raised its position in Old Point Financial by 57.5% in the 2nd quarter. Bank of America Corp DE now owns 5,929 shares of the bank’s stock valued at $171,000 after purchasing an additional 2,165 shares during the last quarter. Renaissance Technologies LLC raised its position in Old Point Financial by 12.3% in the 3rd quarter. Renaissance Technologies LLC now owns 36,335 shares of the bank’s stock valued at $1,086,000 after purchasing an additional 3,967 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Old Point Financial by 55.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 20,521 shares of the bank’s stock valued at $592,000 after purchasing an additional 7,326 shares during the last quarter. Finally, Girard Partners LTD. bought a new position in Old Point Financial in the 3rd quarter valued at $359,000. Hedge funds and other institutional investors own 33.80% 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, retail, and commercial customers. 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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