Short Interest in Old Point Financial Co. (NASDAQ:OPOF) Drops By 15.2%

Old Point Financial Co. (NASDAQ:OPOF - Get Free Report) was the target of a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 2,800 shares, a drop 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 currently 0.8 days. Approximately 0.1% of the shares of the company are sold short.

Wall Street Analyst Weigh In

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

Old Point Financial Stock Performance

Shares of NASDAQ OPOF traded up $0.08 during midday trading on Monday, reaching $20.41. 507 shares of the stock were exchanged, compared to its average volume of 4,891. The firm has a market cap of $103.68 million, a price-to-earnings ratio of 12.76 and a beta of 0.29. Old Point Financial has a twelve month low of $13.49 and a twelve month high of $20.65. The firm has a 50-day simple moving average of $18.71 and a two-hundred day simple moving average of $16.64. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.36.

Old Point Financial (NASDAQ:OPOF - Get Free Report) last issued 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 for the quarter.

Old Point Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Wednesday, September 4th were paid a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $0.56 dividend on an annualized basis and a yield of 2.74%. Old Point Financial's dividend payout ratio is currently 35.00%.

Institutional Investors Weigh In On Old Point Financial

A number of institutional investors have recently added to or reduced their stakes in the stock. PL Capital Advisors LLC grew its stake in Old Point Financial by 19.2% in the 2nd quarter. PL Capital Advisors LLC now owns 720,861 shares of the bank's stock valued at $10,575,000 after acquiring an additional 116,015 shares during the period. Empowered Funds LLC grew its stake in Old Point Financial by 8.2% in the 1st quarter. Empowered Funds LLC now owns 16,244 shares of the bank's stock valued at $277,000 after acquiring an additional 1,225 shares during the period. Finally, Eastern Bank acquired a new stake in Old Point Financial during the 3rd quarter worth $57,000. Institutional investors and hedge funds own 33.43% of the company's 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. It offers deposit products, including interest-bearing transaction accounts, money market deposit accounts, savings accounts, time deposits, and demand deposits.