Old Point Financial Co. (NASDAQ:OPOF) Sees Significant Drop in Short Interest

Old Point Financial Co. (NASDAQ:OPOF) saw a large decline in short interest in the month of June. As of June 30th, there was short interest totalling 1,100 shares, a decline of 45.0% from the May 30th total of 2,000 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily volume of 2,600 shares, the short-interest ratio is presently 0.4 days.

A number of research analysts recently issued reports on OPOF shares. ValuEngine upgraded Yara International ASA from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th. TheStreet downgraded The Providence Service from a “b-” rating to a “c+” rating in a report on Friday, June 28th.

A hedge fund recently raised its stake in Old Point Financial stock. PL Capital Advisors LLC boosted its holdings in shares of Old Point Financial Co. (NASDAQ:OPOF) by 10.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 413,514 shares of the bank’s stock after purchasing an additional 40,000 shares during the period. Old Point Financial comprises approximately 2.5% of PL Capital Advisors LLC’s holdings, making the stock its 11th largest holding. PL Capital Advisors LLC owned about 8.04% of Old Point Financial worth $8,766,000 at the end of the most recent quarter. 34.89% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:OPOF traded down $0.01 during mid-day trading on Friday, reaching $22.94. 700 shares of the company’s stock traded hands, compared to its average volume of 2,867. Old Point Financial has a 12-month low of $19.00 and a 12-month high of $29.90. The firm has a market cap of $119.29 million, a price-to-earnings ratio of 18.21 and a beta of 0.41. The firm’s 50 day moving average is $21.88.

Old Point Financial (NASDAQ:OPOF) last announced its quarterly earnings results on Wednesday, April 24th. The bank reported $0.39 earnings per share (EPS) for the quarter. Old Point Financial had a return on equity of 6.45% and a net margin of 11.28%. The company had revenue of $11.78 million for the quarter.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Tuesday, June 4th were issued a dividend of $0.12 per share. The ex-dividend date was Monday, June 3rd. This represents a $0.48 dividend on an annualized basis and a yield of 2.09%.

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, retail, and commercial customers. The company offers deposit products, including interest-bearing transaction accounts, money market deposit accounts, savings accounts, time deposits, and demand deposits.

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