Old Point Financial (OPOF) Downgraded by ValuEngine

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Old Point Financial (NASDAQ:OPOF) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

Shares of Old Point Financial stock opened at $21.16 on Tuesday. The company has a market capitalization of $112.74 million, a P/E ratio of 19.77 and a beta of 0.47. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.60. Old Point Financial has a 52 week low of $19.00 and a 52 week high of $29.90.

Old Point Financial (NASDAQ:OPOF) last issued its quarterly earnings results on Thursday, January 31st. The bank reported $0.27 earnings per share for the quarter. The company had revenue of $11.93 million for the quarter. Old Point Financial had a net margin of 9.44% and a return on equity of 5.78%.

Hedge funds have recently made changes to their positions in the business. FNY Investment Advisers LLC purchased a new position in shares of Old Point Financial during the 4th quarter worth $29,000. Doyle Wealth Management acquired a new position in Old Point Financial in the 4th quarter valued at about $38,000. Bank of America Corp DE grew 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 acquiring an additional 2,165 shares in the last quarter. Girard Partners LTD. acquired a new position in shares of Old Point Financial during the third quarter worth about $359,000. Finally, Penn Capital Management Co. Inc. grew its position in shares of Old Point Financial by 7.1% during the third quarter. Penn Capital Management Co. Inc. now owns 30,981 shares of the bank’s stock worth $926,000 after buying an additional 2,043 shares in the last quarter. Institutional investors own 34.74% 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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