Old Point Financial Co. (NASDAQ:OPOF) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 700 shares, a decrease of 22.2% from the July 31st total of 900 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 2,300 shares, the short-interest ratio is currently 0.3 days.
Several large investors have recently made changes to their positions in OPOF. PL Capital Advisors LLC increased its holdings in shares of Old Point Financial by 3.1% during the second quarter. PL Capital Advisors LLC now owns 426,414 shares of the bank’s stock worth $9,402,000 after buying an additional 12,900 shares in the last quarter. Southside Capital LLC acquired a new position in shares of Old Point Financial during the second quarter worth $107,000. Renaissance Technologies LLC increased its holdings in shares of Old Point Financial by 10.8% during the second quarter. Renaissance Technologies LLC now owns 38,035 shares of the bank’s stock worth $839,000 after buying an additional 3,700 shares in the last quarter. Penn Capital Management Co. Inc. increased its holdings in shares of Old Point Financial by 3.6% during the first quarter. Penn Capital Management Co. Inc. now owns 33,039 shares of the bank’s stock worth $700,000 after buying an additional 1,153 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Old Point Financial by 0.7% during the second quarter. Vanguard Group Inc. now owns 142,620 shares of the bank’s stock worth $3,145,000 after buying an additional 1,000 shares in the last quarter. Institutional investors own 34.85% of the company’s stock.
NASDAQ OPOF traded down $0.15 on Friday, hitting $23.50. 644 shares of the company’s stock were exchanged, compared to its average volume of 4,267. The stock has a 50-day moving average of $23.08 and a 200-day moving average of $22.14. The stock has a market cap of $122.27 million, a price-to-earnings ratio of 18.60 and a beta of 0.39. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.47. Old Point Financial has a 52 week low of $19.00 and a 52 week high of $29.90.
Old Point Financial (NASDAQ:OPOF) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $0.31 earnings per share (EPS) for the quarter. The company had revenue of $12.10 million during the quarter. Old Point Financial had a net margin of 12.39% and a return on equity of 6.47%.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 2.04%.
Separately, TheStreet upgraded Old Point Financial from a “c+” rating to a “b-” rating in a research note on Friday, June 28th.
Old Point Financial Company Profile
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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