Ohio Valley Banc (NASDAQ:OVBC) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Ohio Valley Banc Corp. (NASDAQ:OVBC)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $42.27 and traded as high as $49.60. Ohio Valley Banc shares last traded at $48.05, with a volume of 26,760 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Ohio Valley Banc from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, May 15th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy”.

Ohio Valley Banc Stock Performance

The stock has a market cap of $226.36 million and a P/E ratio of 14.65. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.30. The stock has a 50 day simple moving average of $45.20 and a 200 day simple moving average of $42.27.

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

Ohio Valley Banc Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, May 10th. Shareholders of record on Friday, April 24th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, April 24th. This is a positive change from Ohio Valley Banc’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a yield of 2.1%. Ohio Valley Banc’s dividend payout ratio is currently 30.49%.

Hedge Funds Weigh In On Ohio Valley Banc

Several hedge funds and other institutional investors have recently made changes to their positions in OVBC. Empowered Funds LLC raised its position in shares of Ohio Valley Banc by 6.4% in the 1st quarter. Empowered Funds LLC now owns 9,302 shares of the bank’s stock valued at $242,000 after buying an additional 558 shares in the last quarter. Jane Street Group LLC bought a new position in Ohio Valley Banc in the first quarter valued at approximately $232,000. Geode Capital Management LLC increased its stake in Ohio Valley Banc by 119.1% in the second quarter. Geode Capital Management LLC now owns 87,940 shares of the bank’s stock valued at $2,835,000 after acquiring an additional 47,796 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in Ohio Valley Banc during the second quarter valued at approximately $58,000. Finally, New York State Common Retirement Fund acquired a new position in Ohio Valley Banc during the second quarter valued at approximately $110,000. 22.06% of the stock is currently owned by institutional investors and hedge funds.

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.