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

Old Point Financial Co. (NASDAQ:OPOF) was the recipient of a significant decline in short interest in February. As of February 28th, there was short interest totalling 4,300 shares, a decline of 18.9% from the February 13th total of 5,300 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average trading volume of 5,900 shares, the days-to-cover ratio is currently 0.7 days.

Hedge Funds Weigh In On Old Point Financial

Several hedge funds have recently modified their holdings of OPOF. WealthTrak Capital Management LLC purchased a new stake in shares of Old Point Financial during the fourth quarter valued at approximately $47,000. Northern Trust Corp grew its position in Old Point Financial by 35.0% during the fourth quarter. Northern Trust Corp now owns 17,440 shares of the bank’s stock valued at $454,000 after buying an additional 4,521 shares during the period. Empowered Funds LLC increased its stake in shares of Old Point Financial by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock worth $356,000 after purchasing an additional 938 shares during the last quarter. Bridgeway Capital Management LLC grew its holdings in Old Point Financial by 1.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 18,951 shares of the bank’s stock valued at $494,000 after purchasing an additional 350 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Old Point Financial by 6.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 20,416 shares of the bank’s stock worth $532,000 after buying an additional 1,246 shares during the last quarter. Institutional investors own 33.43% of the company’s stock.

Old Point Financial Stock Down 0.3 %

Shares of NASDAQ OPOF traded down $0.10 during mid-day trading on Wednesday, reaching $30.00. 19,576 shares of the company’s stock traded hands, compared to its average volume of 7,202. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.92 and a quick ratio of 0.92. The business has a 50-day simple moving average of $27.37 and a 200 day simple moving average of $23.20. The stock has a market cap of $152.34 million, a P/E ratio of 15.96 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.

Old Point Financial (NASDAQ:OPOF) last posted its quarterly earnings data 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 Announces Dividend

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

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Old Point Financial in a report on Wednesday. They issued a “hold” rating on the stock.

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.