Old Point Financial Co. (NASDAQ:OPOF) Short Interest Update

Old Point Financial Co. (NASDAQ:OPOF) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 9,000 shares, an increase of 109.3% from the February 28th total of 4,300 shares. Based on an average trading volume of 7,000 shares, the short-interest ratio is currently 1.3 days. Currently, 0.2% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Old Point Financial from a “hold” rating to a “buy” rating in a research note on Thursday.

Institutional Investors Weigh In On Old Point Financial

A number of institutional investors and hedge funds have recently made changes to their positions in OPOF. PL Capital Advisors LLC increased its position in Old Point Financial by 2,506.0% in the fourth quarter. PL Capital Advisors LLC now owns 18,785,638 shares of the bank’s stock worth $489,554,000 after purchasing an additional 18,064,777 shares during the period. Fourthstone LLC boosted its stake in shares of Old Point Financial by 322.4% in the 4th quarter. Fourthstone LLC now owns 344,620 shares of the bank’s stock valued at $8,981,000 after purchasing an additional 263,026 shares during the last quarter. OLD Point Trust & Financial Services N A grew its position in shares of Old Point Financial by 1.1% during the 4th quarter. OLD Point Trust & Financial Services N A now owns 263,439 shares of the bank’s stock worth $6,865,000 after buying an additional 2,901 shares during the period. Geode Capital Management LLC raised its stake in shares of Old Point Financial by 1.6% during the third quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock worth $874,000 after buying an additional 693 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Old Point Financial by 18.1% in the fourth quarter. Renaissance Technologies LLC now owns 35,929 shares of the bank’s stock valued at $936,000 after buying an additional 5,500 shares during the period. Institutional investors own 33.43% of the company’s stock.

Old Point Financial Price Performance

NASDAQ OPOF traded down $0.08 on Friday, hitting $29.94. 9,741 shares of the company were exchanged, compared to its average volume of 7,414. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.35. The company has a market cap of $152.04 million, a P/E ratio of 15.93 and a beta of 0.17. Old Point Financial has a 1-year low of $13.49 and a 1-year high of $30.95. The firm has a 50 day moving average of $28.12 and a two-hundred day moving average of $23.77.

Old Point Financial (NASDAQ:OPOF) last announced its earnings results on Thursday, January 30th. The bank reported $0.57 earnings per share (EPS) for the quarter. Old Point Financial had a net margin of 11.08% and a return on equity of 8.56%.

Old Point Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Wednesday, March 5th were paid a $0.14 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.56 annualized dividend and a dividend yield of 1.87%. Old Point Financial’s dividend payout ratio (DPR) is currently 29.79%.

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 and commercial customers in Virginia. It offers deposit products, including interest-bearing transaction accounts, money market deposit accounts, savings accounts, time deposits, and demand deposits.