ValuEngine Downgrades Old Point Financial (NASDAQ:OPOF) to Strong Sell

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

Shares of NASDAQ OPOF remained flat at $$28.27 during midday trading on Tuesday. 5 shares of the stock were exchanged, compared to its average volume of 2,168. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.92 and a quick ratio of 0.92. Old Point Financial has a 12 month low of $19.80 and a 12 month high of $30.05. The company has a market cap of $144.95 million, a PE ratio of 19.91 and a beta of 0.42. The stock has a fifty day simple moving average of $28.36 and a 200 day simple moving average of $24.95.

Old Point Financial (NASDAQ:OPOF) last announced its earnings results on Wednesday, October 23rd. The bank reported $0.43 EPS for the quarter. The business had revenue of $12.29 million during the quarter. Old Point Financial had a net margin of 13.39% and a return on equity of 6.88%.

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Old Point Financial by 0.7% in the 2nd 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 in the last quarter. State Street Corp increased its position in shares of Old Point Financial by 9.3% in the third quarter. State Street Corp now owns 40,086 shares of the bank’s stock valued at $953,000 after acquiring an additional 3,397 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Old Point Financial by 10.8% during the second quarter. Renaissance Technologies LLC now owns 38,035 shares of the bank’s stock worth $839,000 after acquiring an additional 3,700 shares in the last quarter. Institutional investors own 35.34% 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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