Short Interest in Old Point Financial Co. (NASDAQ:OPOF) Drops By 45.0%

Old Point Financial Co. (NASDAQ:OPOF) was the recipient of a large decrease in short interest during the month of June. As of June 30th, there was short interest totalling 1,100 shares, a decrease 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 trading volume of 2,600 shares, the days-to-cover ratio is presently 0.4 days.

A hedge fund recently raised its stake in Old Point Financial stock. Penn Capital Management Co. Inc. boosted its holdings in Old Point Financial Co. (NASDAQ:OPOF) by 3.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,039 shares of the bank’s stock after acquiring an additional 1,153 shares during the quarter. Penn Capital Management Co. Inc. owned 0.64% of Old Point Financial worth $700,000 at the end of the most recent quarter. 34.89% of the stock is currently owned by institutional investors.

Several equities analysts have recently commented on OPOF shares. TheStreet lowered shares of The Providence Service from a “b-” rating to a “c+” rating in a report on Friday, June 28th. ValuEngine upgraded shares of Yara International ASA from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th.

Shares of OPOF stock traded down $0.04 during trading hours on Friday, hitting $22.91. The company had a trading volume of 1 shares, compared to its average volume of 2,862. The business’s fifty day moving average is $21.85. Old Point Financial has a fifty-two week low of $19.00 and a fifty-two week high of $29.90. The firm has a market capitalization of $119.43 million, a PE ratio of 18.22 and a beta of 0.41.

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

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Tuesday, June 4th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Monday, June 3rd.

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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