Notable Stock News to Watch: Old Point Financial Corporation (NASDAQ:OPOF)

Old Point Financial Corporation (NASDAQ:OPOF) spotted trading -46.26% off 52-week high price. On the other end, the stock has been noted 48.71% away from the low price over the last 52-weeks. The stock changed 1.70% to recent value of $16.15. The stock transacted 7453 shares during most recent day however it has an average volume of 9.67K shares. The company has 4.79M of outstanding shares and 4.30M shares were floated in the market.

On April 30, 2020, Old Point Financial Corporation (NASDAQ:OPOF) released net income of $1.3 million and earnings per diluted common share of $0.24 for the quarter ended March 31, 2020, as compared to net income of $2.0 million or $0.39 earnings per diluted common share for the first quarter of 2019.

Robert Shuford, Jr., Chairman, President, and CEO of the Company and Old Point National Bank (the Bank) said, The emergence of COVID-19 during the first quarter of 2020 has thrust the Company and our country into unparalleled times. Our focus has been the health and well-being of our employees, our customers, and our community. We have taken physical and financial measures to assist our employees, enhanced our online presence related to mobile access, deposit services, and lending platforms to assist our customers, and continued to provide a full suite of uninterrupted financial services to our community.

In the midst of the rapidly changing environment, our team embraced our participation in the SBA’s Payroll Protection Program under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, working tirelessly to provide assistance not only to our customers, but to the community as a whole. During the initial appropriation, we secured approximately $90.0 million of funding for local businesses and continue our participation into the second appropriation, making every effort possible to aid in sustaining and helping our community.

Its earnings per share (EPS) expected to touch remained 58.10% for this year.

The price moved ahead of 3.71% from the mean of 20 days, -12.98% from mean of 50 days SMA and performed -31.50% from mean of 200 days price. Company’s performance for the week was -4.78%, 6.81% for month and YTD performance remained -41.25%.

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