Old Point Financial Co. (NASDAQ:OPOF) Sees Significant Decrease in Short Interest

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

Old Point Financial Stock Performance

Shares of NASDAQ OPOF opened at $30.00 on Thursday. The business has a fifty day simple moving average of $27.46 and a 200 day simple moving average of $23.24. 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 firm has a market capitalization of $152.34 million, a price-to-earnings ratio of 15.96 and a beta of 0.17. Old Point Financial has a one year low of $13.49 and a one year high of $30.95.

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

Old Point Financial Announces Dividend

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

Institutional Trading of Old Point Financial

Large investors have recently bought and sold shares of the stock. WealthTrak Capital Management LLC bought a new stake in Old Point Financial in the fourth quarter valued at $47,000. Northern Trust Corp grew its position in Old Point Financial by 35.0% in the fourth quarter. Northern Trust Corp now owns 17,440 shares of the bank’s stock valued at $454,000 after acquiring an additional 4,521 shares during the period. Empowered Funds LLC grew its position in Old Point Financial by 5.4% in the third quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock valued at $356,000 after acquiring an additional 938 shares during the period. Bridgeway Capital Management LLC grew its position in Old Point Financial by 1.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 18,951 shares of the bank’s stock valued at $494,000 after acquiring an additional 350 shares during the period. Finally, Dimensional Fund Advisors LP grew 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 valued at $532,000 after acquiring an additional 1,246 shares during the period. 33.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Old Point Financial in a research note on Wednesday. They issued a “hold” rating for the company.

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.