Ohio Valley Banc (NASDAQ:OVBC) Announces Earnings Results

Ohio Valley Banc (NASDAQ:OVBC) released its earnings results on Monday. The bank reported $0.62 EPS for the quarter, Zacks reports. Ohio Valley Banc had a net margin of 14.31% and a return on equity of 8.43%. The firm had revenue of $18.58 million for the quarter.

Ohio Valley Banc Stock Performance

OVBC opened at $42.01 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.30. The firm has a market cap of $197.87 million, a PE ratio of 13.96 and a beta of 0.03. The business has a fifty day simple moving average of $45.60 and a 200-day simple moving average of $44.04. Ohio Valley Banc has a fifty-two week low of $31.61 and a fifty-two week high of $54.96.

Ohio Valley Banc Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Friday, July 24th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.00 annualized dividend and a dividend yield of 2.4%. Ohio Valley Banc’s dividend payout ratio (DPR) is currently 30.49%.

Hedge Funds Weigh In On Ohio Valley Banc

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bridgeway Capital Management LLC increased its stake in Ohio Valley Banc by 3.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 35,518 shares of the bank’s stock worth $1,420,000 after purchasing an additional 1,114 shares in the last quarter. Empowered Funds LLC lifted its stake in Ohio Valley Banc by 9.9% during the fourth quarter. Empowered Funds LLC now owns 12,318 shares of the bank’s stock valued at $492,000 after buying an additional 1,114 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Ohio Valley Banc in the first quarter worth about $232,000. Goldman Sachs Group Inc. acquired a new position in shares of Ohio Valley Banc in the fourth quarter worth about $224,000. Finally, Royal Bank of Canada increased its position in shares of Ohio Valley Banc by 20.0% in the fourth quarter. Royal Bank of Canada now owns 3,019 shares of the bank’s stock worth $120,000 after acquiring an additional 503 shares in the last quarter. Institutional investors and hedge funds own 22.06% of the company’s stock.

Analyst Upgrades and Downgrades

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