Old Point Financial Co. (NASDAQ:OPOF) Short Interest Down 15.2% in October

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

Institutional Investors Weigh In On Old Point Financial

A number of institutional investors and hedge funds have recently modified their holdings of the business. Eastern Bank acquired a new position in Old Point Financial during the third quarter valued at approximately $57,000. Empowered Funds LLC grew its holdings in Old Point Financial by 8.2% during the first quarter. Empowered Funds LLC now owns 16,244 shares of the bank’s stock valued at $277,000 after purchasing an additional 1,225 shares during the period. Finally, PL Capital Advisors LLC grew its holdings in Old Point Financial by 19.2% during the second quarter. PL Capital Advisors LLC now owns 720,861 shares of the bank’s stock valued at $10,575,000 after purchasing an additional 116,015 shares during the period. 33.43% of the stock is owned by institutional investors.

Old Point Financial Price Performance

Shares of NASDAQ OPOF traded up $0.07 during trading on Wednesday, reaching $20.39. The company had a trading volume of 2,872 shares, compared to its average volume of 4,861. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $103.58 million, a PE ratio of 12.64 and a beta of 0.29. The business’s 50 day moving average price is $18.75 and its 200-day moving average price is $16.68. Old Point Financial has a 52 week low of $13.49 and a 52 week high of $21.00.

Old Point Financial (NASDAQ:OPOF) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $0.47 earnings per share for the quarter. The business had revenue of $15.78 million during the quarter. Old Point Financial had a net margin of 9.47% and a return on equity of 7.50%.

Old Point Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Wednesday, September 4th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend was Wednesday, September 4th. Old Point Financial’s dividend payout ratio (DPR) is 35.00%.

Analyst Upgrades and Downgrades

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

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.