49 Wealth Management LLC Has $1.09 Million Stock Position in Ohio Valley Banc Corp. $OVBC

49 Wealth Management LLC cut its stake in shares of Ohio Valley Banc Corp. (NASDAQ:OVBC) by 38.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,552 shares of the bank’s stock after selling 18,226 shares during the period. 49 Wealth Management LLC owned 0.63% of Ohio Valley Banc worth $1,093,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new position in shares of Ohio Valley Banc during the 2nd quarter worth approximately $58,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Ohio Valley Banc in the second quarter valued at $67,000. Bank of America Corp DE increased its holdings in Ohio Valley Banc by 104.0% during the second quarter. Bank of America Corp DE now owns 3,336 shares of the bank’s stock worth $108,000 after buying an additional 1,701 shares during the last quarter. New York State Common Retirement Fund bought a new stake in Ohio Valley Banc during the second quarter worth $110,000. Finally, Jane Street Group LLC bought a new stake in Ohio Valley Banc during the first quarter worth $232,000. 22.06% of the stock is currently owned by institutional investors.

Ohio Valley Banc Trading Down 3.1%

Shares of Ohio Valley Banc stock opened at $42.63 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.91 and a quick ratio of 0.91. The business has a fifty day simple moving average of $41.39 and a two-hundred day simple moving average of $38.64. Ohio Valley Banc Corp. has a 1 year low of $25.75 and a 1 year high of $44.80. The company has a market capitalization of $200.79 million, a price-to-earnings ratio of 12.88 and a beta of -0.02.

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

Ohio Valley Banc Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Ohio Valley Banc in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy”.

About Ohio Valley Banc

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.