Ohio Valley Banc Corp. (NASDAQ:OVBC – Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $44.42 and traded as high as $45.85. Ohio Valley Banc shares last traded at $44.71, with a volume of 40,412 shares changing hands.
Analysts Set New Price Targets
Separately, Weiss Ratings lowered Ohio Valley Banc from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, August 14th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Ohio Valley Banc has an average rating of “Buy”.
Read Our Latest Report on Ohio Valley Banc
Ohio Valley Banc Trading Down 0.2%
Ohio Valley Banc (NASDAQ:OVBC – Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The bank reported $0.62 earnings per share for the quarter. Ohio Valley Banc had a net margin of 14.31% and a return on equity of 8.37%. The firm had revenue of $18.58 million for the quarter.
Ohio Valley Banc Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Friday, July 24th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Friday, July 24th. Ohio Valley Banc’s dividend payout ratio is currently 33.22%.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in OVBC. Empowered Funds LLC raised its stake in shares of Ohio Valley Banc by 6.4% during the 1st quarter. Empowered Funds LLC now owns 9,302 shares of the bank’s stock worth $242,000 after buying an additional 558 shares during the last quarter. Jane Street Group LLC acquired a new stake in Ohio Valley Banc during the first quarter worth approximately $232,000. Geode Capital Management LLC increased its stake in Ohio Valley Banc by 119.1% in the second quarter. Geode Capital Management LLC now owns 87,940 shares of the bank’s stock valued at $2,835,000 after purchasing an additional 47,796 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Ohio Valley Banc during the 2nd quarter valued at about $58,000. Finally, New York State Common Retirement Fund purchased a new position in Ohio Valley Banc during the second quarter worth approximately $110,000. 22.06% of the stock is owned by hedge funds and other institutional investors.
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.
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