Ohio Valley Banc (NASDAQ:OVBC) Releases Earnings Results

Ohio Valley Banc (NASDAQ:OVBC) posted its quarterly earnings results on Monday. The bank reported $0.62 earnings per share (EPS) for the quarter, Zacks reports. Ohio Valley Banc had a net margin of 16.05% and a return on equity of 9.29%.

Ohio Valley Banc Stock Performance

NASDAQ:OVBC traded up $0.70 during mid-day trading on Monday, hitting $42.84. The stock had a trading volume of 7,824 shares, compared to its average volume of 22,944. 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 company has a 50 day simple moving average of $45.73 and a 200-day simple moving average of $44.00. The stock has a market capitalization of $201.78 million, a price-to-earnings ratio of 13.06 and a beta of 0.03. Ohio Valley Banc has a 52 week low of $31.61 and a 52 week high of $54.96.

Ohio Valley Banc Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Friday, July 24th will be given a $0.25 dividend. The ex-dividend date is Friday, July 24th. This represents a $1.00 annualized dividend and a yield of 2.3%. Ohio Valley Banc’s dividend payout ratio (DPR) is currently 30.49%.

Hedge Funds Weigh In On Ohio Valley Banc

Several hedge funds and other institutional investors have recently made changes to their positions in OVBC. Fourthstone LLC raised its position in Ohio Valley Banc by 172.2% during the fourth 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. Geode Capital Management LLC boosted its position in Ohio Valley Banc by 119.1% during the 2nd quarter. Geode Capital Management LLC now owns 87,940 shares of the bank’s stock worth $2,835,000 after acquiring an additional 47,796 shares during the period. Jane Street Group LLC purchased a new position in Ohio Valley Banc during the 1st quarter valued at about $232,000. Goldman Sachs Group Inc. acquired a new position in shares of Ohio Valley Banc in the 4th quarter valued at about $224,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Ohio Valley Banc in the 2nd quarter valued at about $110,000. 22.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Ohio Valley Banc from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, June 23rd. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus 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.