Ohio Valley Banc (NASDAQ:OVBC) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Shares of Ohio Valley Banc Corp. (NASDAQ:OVBCGet Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $44.54 and traded as high as $45.37. Ohio Valley Banc shares last traded at $45.37, with a volume of 27,987 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Ohio Valley Banc from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, August 14th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

View Our Latest Report on OVBC

Ohio Valley Banc Stock Performance

The company has a market capitalization of $214.68 million, a P/E ratio of 15.14 and a beta of 0.04. The stock’s fifty day moving average price is $43.79 and its 200-day moving average price is $44.55. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.93 and a current ratio of 0.93.

Ohio Valley Banc (NASDAQ:OVBCGet Free Report) last posted its quarterly earnings results on Monday, July 27th. The bank reported $0.62 EPS for the quarter. The business had revenue of $18.58 million during the quarter. Ohio Valley Banc had a return on equity of 8.37% and a net margin of 14.31%.

Ohio Valley Banc Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Friday, July 24th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Friday, July 24th. Ohio Valley Banc’s dividend payout ratio is 33.22%.

Hedge Funds Weigh In On Ohio Valley Banc

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Opal Capital LLC bought a new stake in Ohio Valley Banc in the 4th quarter valued at $1,140,000. Susquehanna International Group LLP bought a new position in Ohio Valley Banc during the 2nd quarter worth $4,500,000. Empowered Funds LLC bought a new position in Ohio Valley Banc during the 2nd quarter worth $630,000. Corient Private Wealth LP acquired a new stake in shares of Ohio Valley Banc during the second quarter worth $1,226,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Ohio Valley Banc in the 2nd quarter valued at about $7,665,000. 22.06% of the stock is owned by institutional investors.

About Ohio Valley Banc

(Get Free Report)

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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