StockNews.com Initiates Coverage on Ohio Valley Banc (NASDAQ:OVBC)

Investment analysts at StockNews.com initiated coverage on shares of Ohio Valley Banc (NASDAQ:OVBC) in a research report issued to clients and investors on Monday. The firm set a “hold” rating on the bank’s stock.

Ohio Valley Banc Price Performance

OVBC opened at $23.50 on Monday. The company has a 50-day moving average of $24.39 and a 200-day moving average of $23.84. The company has a market capitalization of $112.57 million, a P/E ratio of 8.91 and a beta of 0.11. Ohio Valley Banc has a 1-year low of $21.67 and a 1-year high of $25.95. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.95 and a current ratio of 0.95.

Ohio Valley Banc (NASDAQ:OVBC) last released its earnings results on Thursday, January 25th. The bank reported $0.68 earnings per share for the quarter. Ohio Valley Banc had a net margin of 16.96% and a return on equity of 9.08%. The company had revenue of $14.90 million during the quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its holdings in shares of Ohio Valley Banc by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 77,454 shares of the bank’s stock valued at $2,339,000 after buying an additional 394 shares during the period. Bridgeway Capital Management LLC boosted its holdings in shares of Ohio Valley Banc by 1.6% in the 4th quarter. Bridgeway Capital Management LLC now owns 36,051 shares of the bank’s stock valued at $829,000 after buying an additional 576 shares during the period. Abundance Wealth Counselors boosted its holdings in shares of Ohio Valley Banc by 0.9% in the 4th quarter. Abundance Wealth Counselors now owns 94,909 shares of the bank’s stock valued at $2,183,000 after buying an additional 800 shares during the period. Northern Trust Corp boosted its holdings in shares of Ohio Valley Banc by 8.0% in the 2nd quarter. Northern Trust Corp now owns 11,872 shares of the bank’s stock valued at $288,000 after buying an additional 877 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Ohio Valley Banc by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 155,128 shares of the bank’s stock valued at $4,654,000 after purchasing an additional 1,044 shares during the period. 22.06% of the stock is owned by institutional investors and hedge funds.

About Ohio Valley Banc

Ohio Valley Banc Corp. operates as the bank holding company for The Ohio Valley Bank Company that provides commercial and consumer banking products and services. The company operates in two segments, Banking and Consumer Finance. It accepts various deposit products, including checking, savings, time, and money market accounts, as well as individual retirement accounts, demand deposits, NOW accounts, and certificates of deposit.