Old Point Financial Co. (NASDAQ:OPOF) Short Interest Up 28.6% in January

Old Point Financial Co. (NASDAQ:OPOF) saw a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 2,700 shares, an increase of 28.6% from the December 31st total of 2,100 shares. Based on an average daily trading volume, of 9,500 shares, the short-interest ratio is currently 0.3 days. Currently, 0.1% of the company’s shares are sold short.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Old Point Financial in a research note on Thursday. They set a “hold” rating for the company.

Old Point Financial Stock Up 0.0 %

NASDAQ:OPOF traded up $0.01 during mid-day trading on Thursday, reaching $24.41. The company’s stock had a trading volume of 925 shares, compared to its average volume of 3,375. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $124.00 million, a PE ratio of 15.26 and a beta of 0.26. The stock has a fifty day moving average of $24.37 and a 200-day moving average of $20.73. Old Point Financial has a 1 year low of $13.49 and a 1 year high of $28.00.

Old Point Financial (NASDAQ:OPOF) last released 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 9.47% and a return on equity of 7.38%.

Old Point Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Wednesday, December 4th were issued a $0.14 dividend. The ex-dividend date was Wednesday, December 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.29%. Old Point Financial’s dividend payout ratio is presently 35.00%.

Institutional Investors Weigh In On Old Point Financial

Hedge funds have recently made changes to their positions in the stock. Fourthstone LLC grew its stake in Old Point Financial by 44.9% in the third quarter. Fourthstone LLC now owns 81,594 shares of the bank’s stock valued at $1,576,000 after purchasing an additional 25,273 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Old Point Financial by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock valued at $874,000 after buying an additional 693 shares in the last quarter. Empowered Funds LLC grew its position in shares of Old Point Financial by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock worth $356,000 after buying an additional 938 shares during the last quarter. Finally, Eastern Bank bought a new position in shares of Old Point Financial during the 3rd quarter worth approximately $57,000. 33.43% of the stock is currently owned by hedge funds and other institutional investors.

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.