Ohio Valley Banc (NASDAQ:OVBC) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Ohio Valley Banc (NASDAQ:OVBCGet Rating) in a research report issued on Wednesday. The brokerage set a “hold” rating on the bank’s stock.

OVBC stock opened at $31.44 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a fifty day moving average of $30.44. Ohio Valley Banc has a one year low of $22.33 and a one year high of $32.29. The stock has a market capitalization of $150.03 million, a P/E ratio of 12.83 and a beta of 0.26.

Ohio Valley Banc (NASDAQ:OVBCGet Rating) last announced its quarterly earnings results on Thursday, January 27th. The bank reported $0.48 earnings per share (EPS) for the quarter. Ohio Valley Banc had a net margin of 21.50% and a return on equity of 8.39%. The company had revenue of $11.80 million for the quarter.

A number of institutional investors and hedge funds have recently made changes to their positions in OVBC. The Manufacturers Life Insurance Company raised its stake in Ohio Valley Banc by 114.8% during the third quarter. The Manufacturers Life Insurance Company now owns 107,889 shares of the bank’s stock valued at $2,886,000 after purchasing an additional 57,671 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Ohio Valley Banc by 5.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 113,943 shares of the bank’s stock valued at $3,310,000 after buying an additional 6,054 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Ohio Valley Banc by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 25,721 shares of the bank’s stock valued at $701,000 after buying an additional 941 shares in the last quarter. BlackRock Inc. raised its position in shares of Ohio Valley Banc by 2.5% during the 4th quarter. BlackRock Inc. now owns 18,961 shares of the bank’s stock valued at $562,000 after buying an additional 461 shares in the last quarter. Finally, Royal Bank of Canada raised its position in shares of Ohio Valley Banc by 40.1% during the 2nd quarter. Royal Bank of Canada now owns 3,016 shares of the bank’s stock valued at $74,000 after buying an additional 863 shares in the last quarter. Institutional investors own 13.61% of the company’s stock.

About Ohio Valley Banc (Get Rating)

Ohio Valley Banc Corp. operates as the bank holding company for The Ohio Valley Bank Company that provides commercial and consumer banking products and services. The company operates in two segments, Banking and Consumer Finance. It accepts various deposit products, including checking, savings, time, and money market accounts, as well as individual retirement accounts, demand deposits, NOW accounts, and certificates of deposit.

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