Old Point Financial Co. (OPOF) to Issue Quarterly Dividend of $0.12
Old Point Financial Co. (NASDAQ:OPOF) announced a quarterly dividend on Friday, May 24th, Wall Street Journal reports. Shareholders of record on Tuesday, June 4th will be given a dividend of 0.12 per share by the bank on Friday, June 28th. This represents a $0.48 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Monday, June 3rd.
Old Point Financial has raised its dividend payment by an average of 9.0% annually over the last three years.
NASDAQ OPOF traded up $0.15 during trading on Friday, reaching $21.25. The company’s stock had a trading volume of 1,227 shares, compared to its average volume of 4,966. The stock has a market capitalization of $111.48 million, a PE ratio of 17.02 and a beta of 0.44. Old Point Financial has a 1-year low of $19.00 and a 1-year high of $29.90.
An institutional investor recently raised its position in Old Point Financial stock. Morgan Stanley lifted its position in Old Point Financial Co. (NASDAQ:OPOF) by 52.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,974 shares of the bank’s stock after buying an additional 1,375 shares during the quarter. Morgan Stanley owned about 0.08% of Old Point Financial worth $84,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 34.27% of the company’s stock.
Separately, ValuEngine cut shares of Old Point Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th.
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Old Point Financial Company Profile
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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