Ohio Valley Banc (NASDAQ:OVBC) Announces Quarterly Earnings Results

Ohio Valley Banc (NASDAQ:OVBC) issued its quarterly earnings data on Tuesday. The bank reported $0.91 earnings per share (EPS) for the quarter, Zacks reports. Ohio Valley Banc had a net margin of 16.56% and a return on equity of 9.58%.

Ohio Valley Banc Price Performance

NASDAQ:OVBC traded up $0.10 during mid-day trading on Tuesday, reaching $45.80. The stock had a trading volume of 13,352 shares, compared to its average volume of 11,723. The stock has a 50-day simple moving average of $43.63 and a two-hundred day simple moving average of $40.67. The stock has a market capitalization of $215.72 million, a PE ratio of 13.84 and a beta of -0.04. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.93 and a quick ratio of 0.93. Ohio Valley Banc has a 12 month low of $27.50 and a 12 month high of $47.12.

Ohio Valley Banc Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, May 10th. Investors of record on Friday, April 24th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. This is a positive change from Ohio Valley Banc’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, April 24th. Ohio Valley Banc’s payout ratio is 30.21%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in OVBC. Empowered Funds LLC increased its stake in Ohio Valley Banc by 6.4% in the first quarter. Empowered Funds LLC now owns 9,302 shares of the bank’s stock valued at $242,000 after acquiring an additional 558 shares during the last quarter. Jane Street Group LLC bought a new position in Ohio Valley Banc in the first quarter valued at approximately $232,000. Geode Capital Management LLC increased its stake in Ohio Valley Banc by 119.1% in the second quarter. Geode Capital Management LLC now owns 87,940 shares of the bank’s stock valued at $2,835,000 after acquiring an additional 47,796 shares during the last quarter. JPMorgan Chase & Co. bought a new position in Ohio Valley Banc in the second quarter valued at approximately $58,000. Finally, New York State Common Retirement Fund bought a new position in Ohio Valley Banc in the second quarter valued at approximately $110,000. 22.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Ohio Valley Banc in a research report on Friday, March 27th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company 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.