Short Interest in Old Point Financial Co. (NASDAQ:OPOF) Increases By 109.3%

Old Point Financial Co. (NASDAQ:OPOF) saw a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 9,000 shares, an increase of 109.3% from the February 28th total of 4,300 shares. Based on an average daily volume of 7,000 shares, the short-interest ratio is presently 1.3 days. Approximately 0.2% of the company’s shares are sold short.

Hedge Funds Weigh In On Old Point Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OPOF. Bridgeway Capital Management LLC raised its stake in shares of Old Point Financial by 1.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 18,951 shares of the bank’s stock valued at $494,000 after purchasing an additional 350 shares during the period. Northern Trust Corp raised its position in 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 during the last quarter. Dimensional Fund Advisors LP lifted its stake in Old Point Financial by 6.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 20,416 shares of the bank’s stock valued at $532,000 after acquiring an additional 1,246 shares in the last quarter. Fourthstone LLC lifted its stake in 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 acquiring an additional 263,026 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Old Point Financial by 18.1% during the 4th quarter. Renaissance Technologies LLC now owns 35,929 shares of the bank’s stock worth $936,000 after acquiring an additional 5,500 shares during the last quarter. 33.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Old Point Financial from a “hold” rating to a “buy” rating in a report on Thursday.

Old Point Financial Trading Down 0.3 %

Shares of Old Point Financial stock traded down $0.08 during trading hours on Friday, hitting $29.94. The company’s stock had a trading volume of 9,741 shares, compared to its average volume of 7,414. The company has a market capitalization of $152.04 million, a PE ratio of 15.93 and a beta of 0.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a 50 day moving average of $28.12 and a 200 day moving average of $23.77. Old Point Financial has a 12 month low of $13.49 and a 12 month high of $30.95.

Old Point Financial (NASDAQ:OPOF) last posted its 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 5th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.87%. Old Point Financial’s payout ratio is 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.