Old Point Financial (NASDAQ:OPOF) Shares Cross Above 200 Day Moving Average – Here’s Why

Old Point Financial Co. (NASDAQ:OPOF)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $21.39 and traded as high as $29.50. Old Point Financial shares last traded at $29.50, with a volume of 16,548 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Old Point Financial in a report on Saturday. They issued a “hold” rating for the company.

Old Point Financial Stock Performance

The company’s fifty day simple moving average is $25.08 and its 200 day simple moving average is $21.40. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $149.86 million, a P/E ratio of 15.69 and a beta of 0.26.

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

Old Point Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Wednesday, December 4th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Wednesday, December 4th. Old Point Financial’s dividend payout ratio (DPR) is currently 29.79%.

Institutional Trading of Old Point Financial

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Northern Trust Corp raised its position in shares of Old Point Financial by 35.0% during the 4th quarter. Northern Trust Corp now owns 17,440 shares of the bank’s stock valued at $454,000 after buying an additional 4,521 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Old Point Financial by 6.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 20,416 shares of the bank’s stock worth $532,000 after purchasing an additional 1,246 shares during the period. Fourthstone LLC raised its position in Old Point Financial by 322.4% in the 4th quarter. Fourthstone LLC now owns 344,620 shares of the bank’s stock worth $8,981,000 after purchasing an additional 263,026 shares during the period. Renaissance Technologies LLC raised its position in Old Point Financial by 18.1% in the 4th quarter. Renaissance Technologies LLC now owns 35,929 shares of the bank’s stock worth $936,000 after purchasing an additional 5,500 shares during the period. Finally, WealthTrak Capital Management LLC purchased a new position in Old Point Financial in the 4th quarter worth $47,000. Hedge funds and other institutional investors own 33.43% of the company’s stock.

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.