Opal Capital LLC Invests $1.14 Million in Ohio Valley Banc Corp. $OVBC

Opal Capital LLC bought a new position in Ohio Valley Banc Corp. (NASDAQ:OVBC) in the 4th quarter, Holdings Channel.com reports. The firm bought 26,522 shares of the bank’s stock, valued at approximately $1,140,000.

Several other hedge funds also recently made changes to their positions in the company. Barclays PLC lifted its stake in shares of Ohio Valley Banc by 36.9% in the 4th quarter. Barclays PLC now owns 7,364 shares of the bank’s stock worth $294,000 after acquiring an additional 1,983 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of Ohio Valley Banc in the 4th quarter valued at approximately $55,000. Fourthstone LLC lifted its holdings in shares of Ohio Valley Banc by 172.2% in the 4th quarter. Fourthstone LLC now owns 198,804 shares of the bank’s stock valued at $7,948,000 after buying an additional 125,773 shares during the period. State Street Corp lifted its holdings in shares of Ohio Valley Banc by 3.5% in the 4th quarter. State Street Corp now owns 44,885 shares of the bank’s stock valued at $1,795,000 after buying an additional 1,536 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of Ohio Valley Banc by 44.6% in the 4th quarter. Wells Fargo & Company MN now owns 4,372 shares of the bank’s stock valued at $175,000 after buying an additional 1,348 shares during the period. Institutional investors and hedge funds own 22.06% of the company’s stock.

Analyst Upgrades and Downgrades

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

Ohio Valley Banc Stock Performance

Shares of OVBC opened at $48.21 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.30. The stock has a market cap of $227.07 million, a P/E ratio of 14.70 and a beta of 0.02. The company has a 50-day moving average of $46.58 and a two-hundred day moving average of $43.30. Ohio Valley Banc Corp. has a 12-month low of $27.50 and a 12-month high of $51.25.

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

Ohio Valley Banc Increases Dividend

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

Ohio Valley Banc Profile

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.