Ohio Valley Banc (NASDAQ:OVBC) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Ohio Valley Banc Corp. (NASDAQ:OVBC) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $37.51 and traded as high as $42.16. Ohio Valley Banc shares last traded at $41.81, with a volume of 11,845 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Ohio Valley Banc in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

Ohio Valley Banc Trading Up 0.7%

The business has a fifty day moving average price of $40.44 and a two-hundred day moving average price of $37.51. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $196.93 million, a PE ratio of 12.63 and a beta of -0.02.

Ohio Valley Banc (NASDAQ:OVBC) last posted its earnings results on Tuesday, January 27th. The bank reported $0.84 EPS for the quarter. Ohio Valley Banc had a net margin of 16.56% and a return on equity of 9.73%. The company had revenue of $16.20 million for the quarter.

Ohio Valley Banc Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Friday, January 23rd will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, January 23rd. Ohio Valley Banc’s dividend payout ratio is currently 27.79%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Empowered Funds LLC boosted its position in shares of Ohio Valley Banc by 6.4% during the first 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 period. Jane Street Group LLC acquired a new position in Ohio Valley Banc during the 1st quarter worth about $232,000. Ritholtz Wealth Management purchased a new position in Ohio Valley Banc during the 2nd quarter valued at about $300,000. Prosperity Consulting Group LLC acquired a new position in Ohio Valley Banc in the 2nd quarter valued at about $1,301,000. Finally, 49 Wealth Management LLC acquired a new stake in shares of Ohio Valley Banc during the second quarter worth about $1,540,000. 22.06% of the stock is currently owned by institutional investors and hedge funds.

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.