Old Point Financial Co. (NASDAQ:OPOF) Short Interest Up 28.6% in January

Old Point Financial Co. (NASDAQ:OPOF - Get Free Report) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totalling 2,700 shares, a growth of 28.6% from the December 31st total of 2,100 shares. Approximately 0.1% of the company's stock are short sold. Based on an average daily trading volume, of 9,500 shares, the days-to-cover ratio is currently 0.3 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Old Point Financial in a research note on Thursday. They issued a "hold" rating for the company.

Old Point Financial Stock Performance

Old Point Financial stock traded up $0.23 during mid-day trading on Monday, hitting $24.63. 2,708 shares of the company's stock traded hands, compared to its average volume of 3,624. The firm has a 50 day simple moving average of $24.42 and a two-hundred day simple moving average of $20.85. Old Point Financial has a fifty-two week low of $13.49 and a fifty-two week high of $28.00. The stock has a market cap of $125.12 million, a price-to-earnings ratio of 13.10 and a beta of 0.26. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.92 and a quick ratio of 0.92.

Old Point Financial (NASDAQ:OPOF - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The bank reported $0.57 earnings per share (EPS) 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 company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Wednesday, December 4th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date was Wednesday, December 4th. Old Point Financial's dividend payout ratio is currently 29.79%.

Institutional Investors Weigh In On Old Point Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Fourthstone LLC lifted its holdings in shares of Old Point Financial by 44.9% during the third quarter. Fourthstone LLC now owns 81,594 shares of the bank's stock worth $1,576,000 after buying an additional 25,273 shares in 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 in the last quarter. Empowered Funds LLC lifted its holdings in shares of Old Point Financial by 5.4% during the third quarter. Empowered Funds LLC now owns 18,442 shares of the bank's stock worth $356,000 after buying an additional 938 shares in the last quarter. Finally, Eastern Bank acquired a new stake in shares of Old Point Financial during the third quarter worth $57,000. Institutional investors and hedge funds own 33.43% of the company's stock.

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.