Northern Trust Corp acquired a new stake in Old Point Financial Co. (NASDAQ:OPOF) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 36,204 shares of the bank’s stock, valued at approximately $1,191,000. Northern Trust Corp owned approximately 0.73% of Old Point Financial as of its most recent SEC filing.
Several other large investors also recently modified their holdings of OPOF. Bank of New York Mellon Corp purchased a new stake in shares of Old Point Financial in the second quarter valued at $352,000. TIAA CREF Investment Management LLC acquired a new position in Old Point Financial in the second quarter valued at $291,000. Schwab Charles Investment Management Inc. acquired a new position in Old Point Financial in the second quarter valued at $211,000. Teachers Advisors LLC acquired a new position in Old Point Financial in the second quarter valued at $205,000. Finally, New York State Common Retirement Fund acquired a new position in Old Point Financial in the second quarter valued at $128,000. Institutional investors and hedge funds own 36.17% of the company’s stock.
Separately, ValuEngine lowered Old Point Financial from a “buy” rating to a “hold” rating in a research note on Saturday, November 25th.
Old Point Financial (NASDAQ:OPOF) last released its earnings results on Wednesday, November 1st. The bank reported $0.15 EPS for the quarter. The firm had revenue of $11.09 million during the quarter. Old Point Financial had a return on equity of 3.78% and a net margin of 7.93%.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Thursday, November 30th will be paid a $0.11 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $0.44 annualized dividend and a yield of 1.52%. Old Point Financial’s payout ratio is currently 61.11%.
COPYRIGHT VIOLATION WARNING: This story was first reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international copyright & trademark laws. The original version of this story can be viewed at https://www.chaffeybreeze.com/2017/12/06/northern-trust-corp-takes-position-in-old-point-financial-co-opof.html.
Old Point Financial Profile
Old Point Financial Corporation is a holding company that conducts all of its operations through two subsidiaries, The Old Point National Bank of Phoebus (the Bank) and Old Point Trust & Financial Services, N.A. (the Trust). The Company operates in three principal business segments: the Bank, the Trust and the Parent.
Receive News & Ratings for Old Point Financial Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Point Financial Co. and related companies with MarketBeat.com's FREE daily email newsletter.