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

Old Point Financial Co. (NASDAQ:OPOF) saw a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 2,800 shares, a drop of 15.2% from the September 30th total of 3,300 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 3,300 shares, the days-to-cover ratio is presently 0.8 days.

Hedge Funds Weigh In On Old Point Financial

Several hedge funds and other institutional investors have recently made changes to their positions in OPOF. Eastern Bank acquired a new position in shares of Old Point Financial in the 3rd quarter valued at approximately $57,000. Empowered Funds LLC raised its position in shares of Old Point Financial by 8.2% in the 1st quarter. Empowered Funds LLC now owns 16,244 shares of the bank’s stock valued at $277,000 after buying an additional 1,225 shares in the last quarter. Finally, PL Capital Advisors LLC raised its position in shares of Old Point Financial by 19.2% in the 2nd quarter. PL Capital Advisors LLC now owns 720,861 shares of the bank’s stock valued at $10,575,000 after buying an additional 116,015 shares in the last quarter. 33.43% of the stock is currently owned by institutional investors and hedge funds.

Old Point Financial Stock Performance

Old Point Financial stock traded up $0.32 during midday trading on Monday, hitting $20.65. The company’s stock had a trading volume of 118 shares, compared to its average volume of 4,889. Old Point Financial has a 1-year low of $13.49 and a 1-year high of $20.65. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.91 and a quick ratio of 0.91. The company has a 50-day moving average price of $18.66 and a two-hundred day moving average price of $16.60. The company has a market cap of $104.82 million, a price-to-earnings ratio of 16.13 and a beta of 0.29.

Old Point Financial (NASDAQ:OPOF) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $0.47 earnings per share for the quarter. Old Point Financial had a net margin of 8.41% and a return on equity of 6.69%. The business had revenue of $15.78 million during the quarter.

Old Point Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Wednesday, September 4th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.71%. The ex-dividend date was Wednesday, September 4th. Old Point Financial’s payout ratio is presently 44.44%.

Wall Street Analyst Weigh In

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

About Old Point Financial

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.