Short Interest in Old Point Financial Co. (NASDAQ:OPOF) Rises By 109.3%

Old Point Financial Co. (NASDAQ:OPOF) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 9,000 shares, a growth of 109.3% from the February 28th total of 4,300 shares. Based on an average trading volume of 7,000 shares, the days-to-cover ratio is currently 1.3 days. Approximately 0.2% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Old Point Financial from a “hold” rating to a “buy” rating in a research note on Thursday.

Institutional Investors Weigh In On Old Point Financial

A number of institutional investors and hedge funds have recently bought and sold shares of OPOF. PL Capital Advisors LLC raised its holdings in shares of Old Point Financial by 2,506.0% in the 4th quarter. PL Capital Advisors LLC now owns 18,785,638 shares of the bank’s stock worth $489,554,000 after purchasing an additional 18,064,777 shares in the last quarter. Fourthstone LLC lifted its position in shares of Old Point Financial by 322.4% during the 4th quarter. Fourthstone LLC now owns 344,620 shares of the bank’s stock valued at $8,981,000 after acquiring an additional 263,026 shares during the last quarter. OLD Point Trust & Financial Services N A boosted its stake in shares of Old Point Financial by 1.1% during the 4th quarter. OLD Point Trust & Financial Services N A now owns 263,439 shares of the bank’s stock worth $6,865,000 after acquiring an additional 2,901 shares in the last quarter. Geode Capital Management LLC grew 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 worth $874,000 after acquiring an additional 693 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Old Point Financial by 18.1% during the fourth quarter. Renaissance Technologies LLC now owns 35,929 shares of the bank’s stock worth $936,000 after purchasing an additional 5,500 shares during the period. 33.43% of the stock is owned by institutional investors and hedge funds.

Old Point Financial Price Performance

Shares of NASDAQ:OPOF traded down $0.08 during trading on Friday, reaching $29.94. The company had a trading volume of 9,741 shares, compared to its average volume of 7,414. Old Point Financial has a twelve month low of $13.49 and a twelve month high of $30.95. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $152.04 million, a PE ratio of 15.93 and a beta of 0.17. The firm’s fifty day moving average is $28.12 and its 200 day moving average is $23.77.

Old Point Financial (NASDAQ:OPOF) last issued its quarterly earnings results on Thursday, January 30th. The bank reported $0.57 earnings per share (EPS) 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 company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.14 per share. 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 payout ratio is currently 29.79%.

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.