Short Interest in Old Point Financial Co. (NASDAQ:OPOF) Drops By 52.9%

Old Point Financial Co. (NASDAQ:OPOFGet Rating) was the recipient of a large drop in short interest during the month of April. As of April 30th, there was short interest totalling 800 shares, a drop of 52.9% from the April 15th total of 1,700 shares. Based on an average daily volume of 6,300 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the company’s shares are sold short.

A number of institutional investors have recently added to or reduced their stakes in the business. OLD Point Trust & Financial Services N A grew its position in shares of Old Point Financial by 21.5% during the 3rd quarter. OLD Point Trust & Financial Services N A now owns 240,096 shares of the bank’s stock worth $5,102,000 after buying an additional 42,561 shares during the period. Sonen Capital LLC acquired a new stake in shares of Old Point Financial during the 4th quarter worth approximately $467,000. Western Standard LLC grew its position in shares of Old Point Financial by 17.3% during the 4th quarter. Western Standard LLC now owns 47,856 shares of the bank’s stock worth $1,118,000 after buying an additional 7,051 shares during the period. Geode Capital Management LLC grew its position in shares of Old Point Financial by 36.3% during the 3rd quarter. Geode Capital Management LLC now owns 20,532 shares of the bank’s stock worth $440,000 after buying an additional 5,473 shares during the period. Finally, Morgan Stanley grew its position in shares of Old Point Financial by 52.0% during the 2nd quarter. Morgan Stanley now owns 5,630 shares of the bank’s stock worth $136,000 after buying an additional 1,925 shares during the period. Hedge funds and other institutional investors own 32.57% of the company’s stock.

Old Point Financial stock traded down $0.65 during mid-day trading on Friday, hitting $25.05. 476 shares of the stock were exchanged, compared to its average volume of 2,324. Old Point Financial has a 12 month low of $20.50 and a 12 month high of $27.99. The firm’s fifty day simple moving average is $25.57 and its two-hundred day simple moving average is $24.19. The stock has a market capitalization of $127.76 million, a price-to-earnings ratio of 17.64 and a beta of 0.81.

The company also recently declared a quarterly dividend, which was paid on Friday, March 25th. Shareholders of record on Wednesday, March 2nd were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, March 1st. This represents a $0.52 annualized dividend and a yield of 2.08%. Old Point Financial’s payout ratio is 36.62%.

Old Point Financial Company Profile (Get Rating)

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. 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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