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

Old Point Financial Co. (NASDAQ:OPOF) was the target of a large increase in short interest in 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 trading volume of 7,000 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.2% of the company’s shares are short sold.

Analysts Set New Price Targets

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

Old Point Financial Stock Down 0.3 %

Shares of NASDAQ:OPOF traded down $0.08 during midday trading on Friday, hitting $29.94. 9,741 shares of the stock were exchanged, 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. Old Point Financial has a 52-week low of $13.49 and a 52-week high of $30.95. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.92 and a current ratio of 0.92. The business’s fifty day simple moving average is $28.12 and its two-hundred day simple moving average is $23.77.

Old Point Financial (NASDAQ:OPOF) last posted its quarterly earnings results on Thursday, January 30th. The bank reported $0.57 earnings per share 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 5th will be paid a $0.14 dividend. The ex-dividend date is 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 presently 29.79%.

Hedge Funds Weigh In On Old Point Financial

Several large investors have recently made changes to their positions in OPOF. Bridgeway Capital Management LLC increased its position in Old Point Financial by 1.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 18,951 shares of the bank’s stock worth $494,000 after buying an additional 350 shares during the period. Northern Trust Corp increased its holdings in shares of Old Point Financial by 35.0% during the 4th quarter. Northern Trust Corp now owns 17,440 shares of the bank’s stock worth $454,000 after purchasing an additional 4,521 shares during the period. Dimensional Fund Advisors LP raised its holdings 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 raised its stake in shares of Old Point Financial by 322.4% in the fourth quarter. Fourthstone LLC now owns 344,620 shares of the bank’s stock valued at $8,981,000 after purchasing an additional 263,026 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Old Point Financial by 18.1% in the fourth quarter. Renaissance Technologies LLC now owns 35,929 shares of the bank’s stock worth $936,000 after purchasing an additional 5,500 shares during the period. 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.