Old Point Financial Co. (NASDAQ:OPOF) Short Interest Up 109.3% in March

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

Old Point Financial Stock Down 0.3 %

Shares of NASDAQ OPOF traded down $0.08 on Friday, hitting $29.94. The company had a trading volume of 9,741 shares, compared to its average volume of 7,414. The firm has a market capitalization of $152.04 million, a P/E ratio of 15.93 and a beta of 0.17. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.35. Old Point Financial has a 12-month low of $13.49 and a 12-month high of $30.95. The business has a 50 day moving average of $28.12 and a two-hundred day moving average of $23.81.

Old Point Financial (NASDAQ:OPOF) last released 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 was paid on Friday, March 28th. Investors of record on Wednesday, March 5th were paid a $0.14 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.87%. Old Point Financial’s dividend payout ratio (DPR) is presently 29.79%.

Institutional Trading of Old Point Financial

Several institutional investors have recently added to or reduced their stakes in the stock. WealthTrak Capital Management LLC bought a new stake in shares of Old Point Financial in the 4th quarter worth about $47,000. Northern Trust Corp raised its stake in Old Point Financial by 35.0% during the fourth quarter. Northern Trust Corp now owns 17,440 shares of the bank’s stock valued at $454,000 after buying an additional 4,521 shares in the last quarter. Bridgeway Capital Management LLC lifted its holdings in Old Point Financial by 1.9% during the 4th quarter. Bridgeway Capital Management LLC now owns 18,951 shares of the bank’s stock worth $494,000 after buying an additional 350 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Old Point Financial by 6.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 20,416 shares of the bank’s stock worth $532,000 after acquiring an additional 1,246 shares in the last quarter. Finally, Geode Capital Management LLC increased 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 acquiring an additional 693 shares during the last quarter. 33.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.