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

Old Point Financial Co. (NASDAQ:OPOF) saw a significant decrease in short interest in the month of 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 trading volume, of 5,900 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.1% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. WealthTrak Capital Management LLC bought a new position in shares of Old Point Financial in the fourth quarter worth about $47,000. Empowered Funds LLC lifted its position in shares of Old Point Financial by 5.4% in the third quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock worth $356,000 after buying an additional 938 shares in the last quarter. Northern Trust Corp grew its stake in shares of Old Point Financial by 35.0% in the 4th quarter. Northern Trust Corp now owns 17,440 shares of the bank’s stock worth $454,000 after buying an additional 4,521 shares in the last quarter. Bridgeway Capital Management LLC raised its position in Old Point Financial by 1.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 18,951 shares of the bank’s stock valued at $494,000 after purchasing an additional 350 shares during the period. Finally, Dimensional Fund Advisors LP lifted 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 worth $532,000 after buying an additional 1,246 shares during the last quarter. Institutional investors own 33.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Old Point Financial in a research note on Tuesday, March 11th. They set a “hold” rating for the company.

Old Point Financial Stock Performance

Old Point Financial stock traded down $0.04 during mid-day trading on Tuesday, reaching $30.10. The company’s stock had a trading volume of 14,932 shares, compared to its average volume of 7,149. Old Point Financial has a 12-month low of $13.49 and a 12-month high of $30.95. The company has a market capitalization of $152.85 million, a P/E ratio of 16.01 and a beta of 0.17. 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’s fifty day moving average price is $27.37 and its two-hundred day moving average price is $23.20.

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

Old Point Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.56 annualized dividend and a yield of 1.86%. Old Point Financial’s dividend payout ratio is 29.79%.

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.