Old Point Financial Co. (NASDAQ:OPOF) was the target of a large decline in short interest in August. As of August 31st, there was short interest totalling 700 shares, a decline of 22.2% from the July 31st total of 900 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 2,300 shares, the short-interest ratio is presently 0.3 days.
Separately, TheStreet upgraded shares of Old Point Financial from a “c+” rating to a “b-” rating in a research note on Friday, June 28th.
Institutional investors have recently added to or reduced their stakes in the stock. Penn Capital Management Co. Inc. boosted 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 acquiring an additional 1,153 shares during the period. PL Capital Advisors LLC boosted 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 acquiring an additional 12,900 shares during the period. Southside Capital LLC bought a new stake in shares of Old Point Financial during the second quarter worth approximately $107,000. Renaissance Technologies LLC boosted 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 acquiring an additional 3,700 shares during the period. Finally, Vanguard Group Inc. boosted 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 acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 34.85% of the company’s stock.
Old Point Financial (NASDAQ:OPOF) last released its quarterly earnings data on Thursday, July 25th. The bank reported $0.31 earnings per share for the quarter. Old Point Financial had a net margin of 12.39% and a return on equity of 6.47%. The business had revenue of $12.10 million during the quarter.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be paid a $0.12 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.48 dividend on an annualized basis and a yield of 2.04%.
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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