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

Old Point Financial Co. (NASDAQ:OPOF) was the recipient of 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 daily volume of 3,300 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.1% of the shares of the stock are sold short.

Old Point Financial Price Performance

Shares of NASDAQ OPOF traded down $0.09 during midday trading on Tuesday, reaching $20.32. 1,182 shares of the stock traded hands, compared to its average volume of 4,872. The company’s 50 day moving average is $18.75 and its 200 day moving average is $16.68. Old Point Financial has a one year low of $13.49 and a one year high of $21.00. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $103.25 million, a PE ratio of 12.70 and a beta of 0.29.

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

Old Point Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Wednesday, September 4th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $0.56 annualized dividend and a yield of 2.76%. Old Point Financial’s payout ratio is currently 35.00%.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Old Point Financial in a research note on Saturday. They set a “hold” rating for the company.

Institutional Investors Weigh In On Old Point Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Eastern Bank bought a new position in Old Point Financial during the third quarter valued at $57,000. PL Capital Advisors LLC boosted its stake in shares of Old Point Financial by 19.2% during the 2nd quarter. PL Capital Advisors LLC now owns 720,861 shares of the bank’s stock worth $10,575,000 after purchasing an additional 116,015 shares during the period. Finally, Empowered Funds LLC grew its holdings in Old Point Financial by 8.2% during the 1st 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 last quarter. 33.43% of the stock is currently owned by hedge funds and other institutional investors.

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.