Old Point Financial Co. (NASDAQ:OPOF) Short Interest Down 18.9% in February

Old Point Financial Co. (NASDAQ:OPOF - Get Free Report) was the recipient of a significant decline in short interest in February. As of February 28th, there was short interest totalling 4,300 shares, a decline of 18.9% from the February 13th total of 5,300 shares. Approximately 0.1% of the company's stock are short sold. Based on an average daily volume of 5,900 shares, the short-interest ratio is presently 0.7 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Old Point Financial in a report on Wednesday. They issued a "hold" rating for the company.

Old Point Financial Price Performance

Shares of OPOF stock remained flat at $29.90 during trading on Friday. 14,672 shares of the company were exchanged, compared to its average volume of 7,292. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.35. The firm has a market cap of $151.83 million, a P/E ratio of 15.90 and a beta of 0.17. The company has a fifty day simple moving average of $27.63 and a 200-day simple moving average of $23.36. Old Point Financial has a 52-week low of $13.49 and a 52-week high of $30.95.

Old Point Financial (NASDAQ:OPOF - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The bank reported $0.57 EPS for the quarter. Old Point Financial had a net margin of 11.08% and a return on equity of 8.56%.

Remove Ads

Old Point Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.87%. The ex-dividend date is Wednesday, March 5th. Old Point Financial's dividend payout ratio (DPR) is presently 29.79%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in OPOF. PL Capital Advisors LLC grew its holdings in Old Point Financial by 2,506.0% during the 4th quarter. PL Capital Advisors LLC now owns 18,785,638 shares of the bank's stock worth $489,554,000 after acquiring an additional 18,064,777 shares in the last quarter. Fourthstone LLC boosted its holdings in shares of Old Point Financial by 322.4% in the 4th quarter. Fourthstone LLC now owns 344,620 shares of the bank's stock valued at $8,981,000 after buying an additional 263,026 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Old Point Financial by 18.1% in the 4th quarter. Renaissance Technologies LLC now owns 35,929 shares of the bank's stock valued at $936,000 after buying an additional 5,500 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Old Point Financial by 35.0% in the 4th quarter. Northern Trust Corp now owns 17,440 shares of the bank's stock valued at $454,000 after buying an additional 4,521 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A boosted its holdings in shares of Old Point Financial by 1.1% in the 4th quarter. OLD Point Trust & Financial Services N A now owns 263,439 shares of the bank's stock valued at $6,865,000 after buying an additional 2,901 shares in the last quarter. 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.