Old Point Financial (NASDAQ:OPOF) Shares Pass Above 200-Day Moving Average of $22.15

Shares of Old Point Financial Co. (NASDAQ:OPOF) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $22.15 and traded as high as $23.74. Old Point Financial shares last traded at $23.62, with a volume of 549 shares traded.

Separately, TheStreet raised shares of Old Point Financial from a “c+” rating to a “b-” rating in a research report on Friday, June 28th.

The stock’s 50-day simple moving average is $23.21 and its 200 day simple moving average is $22.15. The stock has a market capitalization of $121.62 million, a P/E ratio of 18.12 and a beta of 0.39. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.92 and a quick ratio of 0.92.

Old Point Financial (NASDAQ:OPOF) last announced its earnings results on Thursday, July 25th. The bank reported $0.31 earnings per share (EPS) for the quarter. The company had revenue of $12.10 million during the quarter. Old Point Financial had a net margin of 12.39% and a return on equity of 6.47%.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be given a $0.12 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.00%.

Several institutional investors have recently made changes to their positions in OPOF. PL Capital Advisors LLC boosted its position in shares of Old Point Financial by 3.1% in the second quarter. PL Capital Advisors LLC now owns 426,414 shares of the bank’s stock valued at $9,402,000 after acquiring an additional 12,900 shares during the period. Southside Capital LLC bought a new stake in shares of Old Point Financial in the second quarter valued at about $107,000. Renaissance Technologies LLC boosted its position in shares of Old Point Financial by 10.8% in the second quarter. Renaissance Technologies LLC now owns 38,035 shares of the bank’s stock valued at $839,000 after acquiring an additional 3,700 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Old Point Financial by 0.7% in the second quarter. Vanguard Group Inc. now owns 142,620 shares of the bank’s stock valued at $3,145,000 after acquiring an additional 1,000 shares during the period. 34.85% of the stock is owned by institutional investors.

About Old Point Financial (NASDAQ:OPOF)

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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