Old Point Financial Co. (NASDAQ:OPOF) Short Interest Down 30.3% in August

Old Point Financial Co. (NASDAQ:OPOF) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 2,300 shares, a decrease of 30.3% from the August 15th total of 3,300 shares. Based on an average daily volume of 8,300 shares, the short-interest ratio is currently 0.3 days. Approximately 0.1% of the shares of the company are short sold.

Old Point Financial Stock Performance

OPOF traded down $0.39 on Monday, hitting $17.25. 2,839 shares of the stock traded hands, compared to its average volume of 5,127. The business has a fifty day moving average price of $17.86 and a two-hundred day moving average price of $16.16. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. Old Point Financial has a 52 week low of $13.49 and a 52 week high of $20.26. The firm has a market capitalization of $87.63 million, a PE ratio of 13.69 and a beta of 0.29.

Old Point Financial (NASDAQ:OPOF) last released its quarterly earnings data on Thursday, July 25th. The bank reported $0.50 earnings per share (EPS) for the quarter. The business had revenue of $15.59 million for the quarter. Old Point Financial had a return on equity of 6.69% and a net margin of 8.41%.

Old Point Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Wednesday, September 4th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend is Wednesday, September 4th. Old Point Financial’s dividend payout ratio is 44.44%.

Institutional Trading of Old Point Financial

A hedge fund recently raised its stake in Old Point Financial stock. Empowered Funds LLC boosted its holdings in shares of Old Point Financial Co. (NASDAQ:OPOF) by 8.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,244 shares of the bank’s stock after purchasing an additional 1,225 shares during the period. Empowered Funds LLC owned about 0.32% of Old Point Financial worth $277,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 33.43% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Old Point Financial in a report on Monday. They set a “hold” rating on the stock.

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 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.