Old Point Financial Co. (NASDAQ:OPOF) Experiences 28.6% Increase in Short Interest

Old Point Financial Co. (NASDAQ:OPOF) witnessed a notable increase in short interest during January. As of January 15th, the total short interest reached 2,700 shares, marking an increase of 28.6% from the total of 2,100 shares reported on December 31st. Currently, short sales account for approximately 0.1% of the company's shares, and based on an average daily trading volume of 9,500 shares, the short-interest ratio stands at 0.3 days.

Recent Analyst Ratings

In other news, StockNews.com has initiated coverage on Old Point Financial and assigned the stock a "hold" rating.

Institutional Changes in Shareholding

Several institutional investors have recently adjusted their holdings in Old Point Financial. Geode Capital Management LLC increased its stake by 1.6% during the third quarter, now holding 45,205 shares valued at $874,000 after acquiring an additional 693 shares. Similarly, Fourthstone LLC raised its position by 44.9%, taking its total to 81,594 shares worth $1,576,000 after buying 25,273 shares. Empowered Funds LLC also expanded its stake by 5.4%, now owning 18,442 shares valued at $356,000 after purchasing 938 additional shares. Moreover, Eastern Bank established a new position in Old Point Financial valued at $57,000 during the same period. Collectively, hedge funds and institutional investors own 33.43% of the company's stock.

Stock Performance Overview

During midday trading on Thursday, Old Point Financial shares were up by $0.01, reaching a price of $24.41. The trading volume was reported at 925 shares compared to the average volume of 3,375 shares. The company displays a debt-to-equity ratio of 0.35, with both its quick ratio and current ratio at 0.92. Over the past year, the stock has fluctuated between a low of $13.49 and a high of $28.00. The fifty-day moving average is currently $24.37, while the 200-day moving average stands at $20.73. Old Point Financial has a market capitalization of $124 million, a price-to-earnings ratio of 15.26, and a beta value of 0.26.

Dividend Information

The company recently announced its quarterly dividend, which was disbursed on December 27th. Shareholders who were registered as of December 4th received a dividend of $0.14 per share. This equates to an annual dividend of $0.56, providing a yield of 2.29%. The ex-dividend date for this payment was December 4th, and Old Point Financial currently maintains a payout ratio of 35.00%.

Company Overview

Old Point Financial Corporation serves as the bank holding company for The Old Point National Bank of Phoebus, providing a variety of banking services including consumer, mortgage, and business banking tailored for individual and commercial customers throughout Virginia. The bank offers various deposit products encompassing interest-bearing transaction accounts, savings accounts, money market accounts, and time deposits.

Finance, Investment, Stocks