Ohio Valley Banc Corp. (NASDAQ:OVBC) Sees Significant Drop in Short Interest

Ohio Valley Banc Corp. (NASDAQ:OVBC) saw a large decline in short interest in December. As of December 31st, there was short interest totaling 35,761 shares, a decline of 29.7% from the December 15th total of 50,871 shares. Approximately 0.8% of the company’s shares are sold short. Based on an average trading volume of 11,673 shares, the days-to-cover ratio is presently 3.1 days. Based on an average trading volume of 11,673 shares, the days-to-cover ratio is presently 3.1 days. Approximately 0.8% of the company’s shares are sold short.

Hedge Funds Weigh In On Ohio Valley Banc

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. acquired a new position in Ohio Valley Banc in the second quarter valued at $58,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Ohio Valley Banc in the 2nd quarter valued at about $67,000. Bank of America Corp DE raised its stake in Ohio Valley Banc by 104.0% during the 2nd quarter. Bank of America Corp DE now owns 3,336 shares of the bank’s stock valued at $108,000 after acquiring an additional 1,701 shares during the last quarter. New York State Common Retirement Fund acquired a new stake in Ohio Valley Banc during the 2nd quarter worth approximately $110,000. Finally, AA Financial Advisors LLC purchased a new position in shares of Ohio Valley Banc in the 2nd quarter valued at approximately $219,000. 22.06% of the stock is owned by institutional investors and hedge funds.

Ohio Valley Banc Stock Down 0.5%

Shares of OVBC stock traded down $0.20 during trading hours on Friday, reaching $40.06. 8,147 shares of the stock were exchanged, compared to its average volume of 8,871. The business’s fifty day moving average is $39.39 and its two-hundred day moving average is $36.92. The firm has a market capitalization of $188.68 million and a P/E ratio of 13.35. Ohio Valley Banc has a 12-month low of $22.10 and a 12-month high of $42.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.91 and a quick ratio of 0.91.

Ohio Valley Banc (NASDAQ:OVBC) last posted its quarterly earnings results on Friday, November 14th. The bank reported $0.64 EPS for the quarter. Ohio Valley Banc had a net margin of 14.97% and a return on equity of 8.97%. The company had revenue of $16.35 million during the quarter.

Ohio Valley Banc Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Friday, January 23rd will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, January 23rd. Ohio Valley Banc’s dividend payout ratio is currently 30.67%.

Analyst Upgrades and Downgrades

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

Ohio Valley Banc Company 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.