Eugene M. Jordan II Sells 500 Shares of Old Point Financial Co. (OPOF) Stock

Old Point Financial Co. (NASDAQ:OPOF) EVP Eugene M. Jordan II sold 500 shares of Old Point Financial stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $28.85, for a total transaction of $14,425.00. Following the completion of the sale, the executive vice president now owns 15,297 shares of the company’s stock, valued at $441,318.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Shares of Old Point Financial Co. (NASDAQ:OPOF) traded down $0.53 during trading on Friday, hitting $28.67. The company has a market cap of $143.89, a price-to-earnings ratio of 39.82 and a beta of 0.06. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.87 and a quick ratio of 0.87. Old Point Financial Co. has a fifty-two week low of $21.80 and a fifty-two week high of $34.82.

Old Point Financial (NASDAQ:OPOF) last announced its quarterly earnings data on Wednesday, November 1st. The bank reported $0.15 earnings per share for the quarter. Old Point Financial had a net margin of 7.93% and a return on equity of 3.78%. The firm had revenue of $11.09 million for the quarter.

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 issued a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.53%. Old Point Financial’s dividend payout ratio is presently 61.11%.

Hedge funds have recently modified their holdings of the business. State Street Corp bought a new position in shares of Old Point Financial during the 2nd quarter valued at approximately $2,069,000. Northern Trust Corp bought a new position in Old Point Financial in the 2nd quarter worth approximately $1,191,000. Vanguard Group Inc. boosted its holdings in Old Point Financial by 117.3% in the 2nd quarter. Vanguard Group Inc. now owns 33,167 shares of the bank’s stock worth $1,091,000 after buying an additional 17,905 shares during the period. Bank of New York Mellon Corp purchased a new stake in Old Point Financial in the 2nd quarter worth approximately $352,000. Finally, Wells Fargo & Company MN lifted its stake in Old Point Financial by 1,021,200.0% in the 3rd quarter. Wells Fargo & Company MN now owns 10,213 shares of the bank’s stock worth $331,000 after purchasing an additional 10,212 shares in the last quarter. 36.17% of the stock is owned by institutional investors and hedge funds.

Separately, ValuEngine downgraded shares of Old Point Financial from a “buy” rating to a “hold” rating in a research report on Saturday, November 25th.

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Old Point Financial Company 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.

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