Old Point Financial Co. (NASDAQ: OPOF) sees significant drop in short-term interest

Old Point Financial Co. (NASDAQ: OPOF) benefited from a sharp decline in short interest in December. As of December 15, there was short interest totaling 2,200 shares, a decrease of 37.1% from the total of 3,500 shares as of November 30. About 0.1% of the company’s shares are sold short. Based on an average daily volume of 1,800 shares, the short-term interest rate is currently 1.2 days.

A number of institutional investors have recently bought and sold shares. OLD Point Trust & Financial Services NA increased its stake in Old Point Financial by 21.5% in the 3rd quarter. OLD Point Trust & Financial Services NA now owns 240,096 shares of the bank valued at $ 5,102,000 after purchasing an additional 42,561 shares in the last quarter. Western Standard LLC acquired a new stake in Old Point Financial in the second quarter valued at approximately $ 874,000. Vanguard Group Inc. increased its stake in Old Point Financial by 6.7% in the second quarter. Vanguard Group Inc. now owns 146,658 shares of the bank valued at $ 3,536,000 after purchasing an additional 9,272 shares in the last quarter. Geode Capital Management LLC increased its stake in Old Point Financial by 36.3% in the third quarter. Geode Capital Management LLC now owns 20,532 shares of the bank valued at $ 440,000 after purchasing an additional 5,473 shares in the last quarter. Finally, Morgan Stanley increased its stake in Old Point Financial by 52.0% in the second quarter. Morgan Stanley now owns 5,630 shares of the bank valued at $ 136,000 after purchasing an additional 1,925 shares in the last quarter. Institutional investors and hedge funds hold 30.67% of the company’s shares.

OPOF stock traded up $ 0.25 during Friday trading hours, reaching $ 23.50. 29,826 shares were traded, for an average volume of 10,842. The company has a market capitalization of $ 123.28 million, a price / earnings ratio of 16.91 and a beta of 1.01. The company’s 50-day moving average is $ 22.74 and its 200-day moving average is $ 22.62. Old Point Financial has a 12-month low of $ 17.83 and a 12-month high of $ 26.26.

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Old Point Financial (NASDAQ: OPOF) last reported its quarterly results on Tuesday, October 26. The bank reported earnings of $ 0.36 per share for the quarter. The company reported sales of $ 13.48 million in the quarter. Old Point Financial reported a return on equity of 6.90% and a net margin of 12.78%.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 30. Shareholders of record on Wednesday December 1 received a dividend of $ 0.13. This represents an annualized dividend of $ 0.52 and a dividend yield of 2.21%. The ex-dividend date was Tuesday, November 30. Old Point Financial’s payout ratio is 37.41%.

About Old Point Financial

Old Point Financial Corp. operates as a bank holding company, which provides banking services through its subsidiaries. It is also a service bank, which offers financial services, ranging from free checking and trading services to home equity products. The company was founded on February 16, 1984 and is headquartered in Hampton, Virginia.

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