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

Old Point Financial Co. (NASDAQ:OPOF) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 2,300 shares, a decrease of 30.3% from the August 15th total of 3,300 shares. Based on an average trading volume of 8,300 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the shares of the stock are sold short.

Old Point Financial Trading Down 2.2 %

NASDAQ:OPOF traded down $0.39 on Monday, hitting $17.25. The stock had a trading volume of 2,839 shares, compared to its average volume of 5,127. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.36. The stock has a market cap of $87.63 million, a price-to-earnings ratio of 13.69 and a beta of 0.29. The company has a fifty day moving average price of $17.86 and a two-hundred day moving average price of $16.16. Old Point Financial has a 1-year low of $13.49 and a 1-year high of $20.26.

Old Point Financial (NASDAQ:OPOF) last posted its earnings results on Thursday, July 25th. The bank reported $0.50 earnings per share for the quarter. The company had revenue of $15.59 million for the quarter. Old Point Financial had a net margin of 8.41% and a return on equity of 6.69%.

Old Point Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Wednesday, September 4th will be issued a $0.14 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $0.56 annualized dividend and a yield of 3.25%. Old Point Financial’s payout ratio is 44.44%.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Old Point Financial in a research report on Monday. They issued a “hold” rating for the company.

Hedge Funds Weigh In On Old Point Financial

An institutional investor recently raised its position in Old Point Financial stock. Empowered Funds LLC lifted its stake in Old Point Financial Co. (NASDAQ:OPOF) by 8.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 16,244 shares of the bank’s stock after acquiring an additional 1,225 shares during the quarter. Empowered Funds LLC owned 0.32% of Old Point Financial worth $277,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 33.43% of the company’s 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.