Ohio Valley Banc (NASDAQ:OVBC) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Ohio Valley Banc Corp. (NASDAQ:OVBC)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $41.79 and traded as high as $47.33. Ohio Valley Banc shares last traded at $47.17, with a volume of 16,282 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Ohio Valley Banc from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, May 15th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Ohio Valley Banc presently has an average rating of “Buy”.

Ohio Valley Banc Stock Performance

The firm has a market capitalization of $222.17 million and a PE ratio of 14.38. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.94 and a quick ratio of 0.93. The firm has a fifty day moving average price of $44.39 and a 200 day moving average price of $41.79.

Ohio Valley Banc (NASDAQ:OVBC) last announced its earnings results on Tuesday, April 28th. The bank reported $0.91 EPS for the quarter. Ohio Valley Banc had a return on equity of 9.29% and a net margin of 16.05%.The business had revenue of $18.18 million during the quarter.

Ohio Valley Banc Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, May 10th. Stockholders of record on Friday, April 24th were issued a dividend of $0.25 per share. This is a positive change from Ohio Valley Banc’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, April 24th. Ohio Valley Banc’s dividend payout ratio (DPR) is currently 30.49%.

Institutional Investors Weigh In On Ohio Valley Banc

Hedge funds have recently modified their holdings of the stock. Kestra Advisory Services LLC acquired a new position in Ohio Valley Banc during the fourth quarter valued at $55,000. JPMorgan Chase & Co. acquired a new position in Ohio Valley Banc during the second quarter valued at $58,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Ohio Valley Banc during the second quarter valued at $67,000. Deutsche Bank AG raised its position in Ohio Valley Banc by 25.1% during the fourth quarter. Deutsche Bank AG now owns 2,285 shares of the bank’s stock valued at $91,000 after buying an additional 458 shares during the period. Finally, Royal Bank of Canada raised its position in Ohio Valley Banc by 20.0% during the fourth quarter. Royal Bank of Canada now owns 3,019 shares of the bank’s stock valued at $120,000 after buying an additional 503 shares during the period. 22.06% of the stock is owned by hedge funds and other institutional investors.

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.