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

Old Point Financial Co. (NASDAQ:OPOF - Get Free Report) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 9,000 shares, a growth of 109.3% from the February 28th total of 4,300 shares. Based on an average trading volume of 7,000 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.2% of the shares of the company are sold short.

Hedge Funds Weigh In On Old Point Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bridgeway Capital Management LLC grew its holdings in shares of Old Point Financial by 1.9% during the 4th quarter. Bridgeway Capital Management LLC now owns 18,951 shares of the bank's stock worth $494,000 after purchasing an additional 350 shares in the last quarter. Geode Capital Management LLC lifted its position in Old Point Financial by 1.6% in the third quarter. Geode Capital Management LLC now owns 45,205 shares of the bank's stock worth $874,000 after purchasing an additional 693 shares during the period. Dimensional Fund Advisors LP boosted its stake in Old Point Financial by 6.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 20,416 shares of the bank's stock worth $532,000 after buying an additional 1,246 shares in the last quarter. WealthTrak Capital Management LLC bought a new stake in Old Point Financial in the 4th quarter valued at $47,000. Finally, OLD Point Trust & Financial Services N A raised its stake 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. 33.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Old Point Financial from a "hold" rating to a "buy" rating in a report on Thursday, March 27th.

Old Point Financial Stock Performance

NASDAQ OPOF traded down $0.02 during trading on Tuesday, hitting $29.93. The company's stock had a trading volume of 1,729 shares, compared to its average volume of 7,136. Old Point Financial has a 52 week low of $13.49 and a 52 week high of $30.95. The firm has a market cap of $151.96 million, a P/E ratio of 15.92 and a beta of 0.17. The firm has a 50 day moving average price of $28.22 and a 200 day moving average price of $23.94. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.35.

Old Point Financial (NASDAQ:OPOF - Get Free Report) last released its 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%.

Old Point Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 5th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Wednesday, March 5th. Old Point Financial's payout ratio is presently 29.79%.

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.