Old Point Financial Co. (NASDAQ:OPOF)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $22.14 and traded as high as $23.39. Old Point Financial shares last traded at $23.39, with a volume of 15 shares traded.

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

The company has a debt-to-equity ratio of 0.47, a current ratio of 0.92 and a quick ratio of 0.92. The business’s 50 day moving average price is $23.06 and its 200-day moving average price is $22.14. The firm has a market capitalization of $121.31 million, a price-to-earnings ratio of 18.56 and a beta of 0.39.

Old Point Financial (NASDAQ:OPOF) last released 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 for the quarter. Old Point Financial had a return on equity of 6.47% and a net margin of 12.39%.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be paid 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 2.06%.

A number of hedge funds have recently made changes to their positions in OPOF. Southside Capital LLC acquired a new stake in Old Point Financial in the second quarter valued at $107,000. PL Capital Advisors LLC grew 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 purchasing an additional 12,900 shares during the last quarter. Vanguard Group Inc. grew 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 purchasing an additional 1,000 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Old Point Financial by 10.8% during the 2nd quarter. Renaissance Technologies LLC now owns 38,035 shares of the bank’s stock worth $839,000 after purchasing an additional 3,700 shares in the last quarter. Finally, Penn Capital Management Co. Inc. increased its stake in shares of Old Point Financial by 3.6% during the 1st quarter. Penn Capital Management Co. Inc. now owns 33,039 shares of the bank’s stock worth $700,000 after purchasing an additional 1,153 shares in the last quarter. 34.85% of the stock is currently owned by hedge funds and other 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.

Further Reading: Dead Cat Bounce

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