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

Old Point Financial Co. (NASDAQ:OPOF - Get Free Report) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 3,800 shares, an increase of 22.6% from the February 29th total of 3,100 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily volume of 2,300 shares, the short-interest ratio is presently 1.7 days.

Old Point Financial Trading Down 3.1 %

NASDAQ:OPOF traded down $0.55 during trading hours on Monday, reaching $17.20. The company's stock had a trading volume of 2,783 shares, compared to its average volume of 2,549. The firm has a market capitalization of $86.69 million, a price-to-earnings ratio of 11.17 and a beta of 0.20. The firm has a 50-day simple moving average of $17.16 and a 200-day simple moving average of $17.17. Old Point Financial has a 1 year low of $14.00 and a 1 year high of $24.55. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.92 and a current ratio of 0.92.

Old Point Financial (NASDAQ:OPOF - Get Free Report) last issued its earnings results on Tuesday, January 30th. The bank reported $0.29 EPS for the quarter. The company had revenue of $15.35 million for the quarter. Old Point Financial had a net margin of 9.60% and a return on equity of 7.61%.

Old Point Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Wednesday, March 6th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend was Tuesday, March 5th. Old Point Financial's payout ratio is presently 36.36%.

Hedge Funds Weigh In On Old Point Financial

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Old Point Financial by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 183,608 shares of the bank's stock worth $3,292,000 after purchasing an additional 4,627 shares during the period. Bridgeway Capital Management LLC boosted its stake in shares of Old Point Financial by 4.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 32,319 shares of the bank's stock valued at $573,000 after purchasing an additional 1,344 shares in the last quarter. Northern Trust Corp bought a new stake in Old Point Financial during the fourth quarter worth about $259,000. Renaissance Technologies LLC boosted its stake in Old Point Financial by 18.8% during the second quarter. Renaissance Technologies LLC now owns 27,135 shares of the bank's stock worth $471,000 after acquiring an additional 4,300 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Old Point Financial by 16.5% during the second quarter. Geode Capital Management LLC now owns 36,564 shares of the bank's stock worth $634,000 after acquiring an additional 5,184 shares in the last quarter. Hedge funds and other institutional investors own 33.43% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Old Point Financial in a research report on Monday. They set a "hold" rating on the stock.

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. The company offers deposit products, including interest-bearing transaction accounts, money market deposit accounts, savings accounts, time deposits, and demand deposits.