Old Point Financial Co. (NASDAQ:OPOF) Sees Significant Decrease in Short Interest

Old Point Financial Co. (NASDAQ:OPOF) saw a large decline in short interest in February. As of February 28th, there was short interest totalling 4,300 shares, a decline of 18.9% from the February 13th total of 5,300 shares. Based on an average trading volume of 5,900 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.1% of the company’s stock are short sold.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Old Point Financial in a research note on Wednesday. They set a “hold” rating on the stock.

Institutional Investors Weigh In On Old Point Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PL Capital Advisors LLC lifted its holdings in 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 during the last quarter. Fourthstone LLC lifted its holdings in shares of Old Point Financial by 322.4% during the fourth quarter. Fourthstone LLC now owns 344,620 shares of the bank’s stock worth $8,981,000 after buying an additional 263,026 shares during the last quarter. OLD Point Trust & Financial Services N A lifted its holdings in shares of Old Point Financial by 1.1% during the fourth quarter. OLD Point Trust & Financial Services N A now owns 263,439 shares of the bank’s stock worth $6,865,000 after buying an additional 2,901 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Old Point Financial by 1.6% during the third quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock worth $874,000 after buying an additional 693 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings 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 buying an additional 5,500 shares during the last quarter. 33.43% of the stock is currently owned by institutional investors and hedge funds.

Old Point Financial Trading Down 0.3 %

Shares of NASDAQ OPOF opened at $30.00 on Thursday. The stock has a market cap of $152.34 million, a price-to-earnings ratio of 15.96 and a beta of 0.17. The business has a 50 day simple moving average of $27.46 and a 200 day simple moving average of $23.24. Old Point Financial has a 52 week low of $13.49 and a 52 week 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.

Old Point Financial (NASDAQ:OPOF) last posted its 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 Dividend Announcement

The business 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 $0.14 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.56 annualized dividend and a yield of 1.87%. Old Point Financial’s dividend payout ratio (DPR) is currently 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.