Ohio Valley Banc (NASDAQ:OVBC) Posts Earnings Results

Ohio Valley Banc (NASDAQ:OVBC) announced its earnings results on Tuesday. The bank reported $0.84 EPS for the quarter, Zacks reports. The business had revenue of $16.20 million for the quarter. Ohio Valley Banc had a return on equity of 9.73% and a net margin of 16.56%.

Ohio Valley Banc Trading Down 0.0%

NASDAQ:OVBC opened at $41.05 on Thursday. Ohio Valley Banc has a 12 month low of $23.00 and a 12 month high of $42.00. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $193.35 million and a price-to-earnings ratio of 13.68. The firm has a fifty day simple moving average of $40.21 and a two-hundred day simple moving average of $37.29.

Ohio Valley Banc Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 10th. Shareholders of record on Friday, January 23rd will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, January 23rd. Ohio Valley Banc’s dividend payout ratio (DPR) is presently 30.67%.

Institutional Trading of Ohio Valley Banc

Several large investors have recently made changes to their positions in the company. Empowered Funds LLC raised its stake in Ohio Valley Banc by 6.4% during the 1st quarter. Empowered Funds LLC now owns 9,302 shares of the bank’s stock worth $242,000 after buying an additional 558 shares during the period. Jane Street Group LLC bought a new stake in shares of Ohio Valley Banc during the first quarter valued at approximately $232,000. Geode Capital Management LLC raised its position in shares of Ohio Valley Banc by 119.1% during the second quarter. Geode Capital Management LLC now owns 87,940 shares of the bank’s stock worth $2,835,000 after purchasing an additional 47,796 shares during the period. JPMorgan Chase & Co. acquired a new position in shares of Ohio Valley Banc during the second quarter worth approximately $58,000. Finally, New York State Common Retirement Fund bought a new position in shares of Ohio Valley Banc in the 2nd quarter worth $110,000. 22.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ohio Valley Banc in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, Ohio Valley Banc has an average rating of “Buy”.

About Ohio Valley Banc

Ohio Valley Banc Corp is a bank holding company headquartered in Wheeling, West Virginia, operating through its principal subsidiary, The Ohio Valley Bank. As a locally focused financial institution, the company delivers a range of banking and financial solutions designed to meet the needs of individual, small business and commercial clients across its service area.

Through its subsidiary, Ohio Valley Banc offers traditional banking products including checking and savings accounts, certificates of deposit and consumer and residential mortgage loans.