Ohio Valley Banc (NASDAQ:OVBC) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of Ohio Valley Banc Corp. (NASDAQ:OVBC) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $43.65 and traded as high as $50.15. Ohio Valley Banc shares last traded at $44.42, with a volume of 45,690 shares.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Ohio Valley Banc from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

Ohio Valley Banc Trading Down 10.2%

The firm has a market capitalization of $209.22 million, a price-to-earnings ratio of 13.54 and a beta of 0.02. The business has a 50-day moving average of $46.88 and a two-hundred day moving average of $43.65. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.30.

Ohio Valley Banc (NASDAQ:OVBC) last issued its quarterly earnings results on Tuesday, April 28th. The bank reported $0.91 earnings per share (EPS) for the quarter. The firm had revenue of $18.18 million for the quarter. Ohio Valley Banc had a return on equity of 9.29% and a net margin of 16.05%.

Ohio Valley Banc Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, May 10th. Stockholders of record on Friday, April 24th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, April 24th. This is a boost from Ohio Valley Banc’s previous quarterly dividend of $0.23. Ohio Valley Banc’s payout ratio is 30.49%.

Institutional Trading of Ohio Valley Banc

A number of institutional investors and hedge funds have recently modified their holdings of the company. Opal Capital LLC bought a new position in Ohio Valley Banc in the fourth quarter worth $1,140,000. JPMorgan Chase & Co. increased its holdings in Ohio Valley Banc by 66.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,999 shares of the bank’s stock valued at $111,000 after buying an additional 1,197 shares during the period. Ritholtz Wealth Management increased its holdings in Ohio Valley Banc by 5.9% in the 4th quarter. Ritholtz Wealth Management now owns 13,372 shares of the bank’s stock valued at $535,000 after buying an additional 745 shares during the period. New York State Common Retirement Fund bought a new stake in Ohio Valley Banc in the 2nd quarter valued at $110,000. Finally, Bank of America Corp DE raised its stake in shares of Ohio Valley Banc by 104.0% in the 2nd quarter. Bank of America Corp DE now owns 3,336 shares of the bank’s stock valued at $108,000 after buying an additional 1,701 shares in the last quarter. 22.06% of the stock is currently owned by institutional investors.

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.