Ohio Valley Banc (NASDAQ:OVBC) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Ohio Valley Banc (NASDAQ:OVBCGet Rating) in a research note released on Monday morning. The brokerage issued a hold rating on the bank’s stock.

Ohio Valley Banc Price Performance

Shares of NASDAQ OVBC opened at $28.55 on Monday. Ohio Valley Banc has a twelve month low of $22.68 and a twelve month high of $32.49. The firm has a market cap of $136.18 million, a P/E ratio of 11.24 and a beta of 0.19. The company has a 50 day moving average of $27.42 and a 200 day moving average of $29.10. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.21.

Ohio Valley Banc Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Friday, October 28th were issued a $0.21 dividend. This is a positive change from Ohio Valley Banc’s previous quarterly dividend of $0.15. This represents a $0.84 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend was Thursday, October 27th. Ohio Valley Banc’s payout ratio is presently 33.07%.

Hedge Funds Weigh In On Ohio Valley Banc

A number of hedge funds have recently added to or reduced their stakes in OVBC. Bank of New York Mellon Corp purchased a new position in Ohio Valley Banc in the 1st quarter worth approximately $201,000. Dimensional Fund Advisors LP raised its stake in Ohio Valley Banc by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 77,454 shares of the bank’s stock valued at $2,339,000 after buying an additional 394 shares during the last quarter. Vanguard Group Inc. raised its stake in Ohio Valley Banc by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 155,128 shares of the bank’s stock valued at $4,654,000 after buying an additional 1,044 shares during the last quarter. State Street Corp raised its stake in Ohio Valley Banc by 12.4% during the 1st quarter. State Street Corp now owns 11,129 shares of the bank’s stock valued at $336,000 after buying an additional 1,224 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Ohio Valley Banc by 7.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 122,161 shares of the bank’s stock valued at $3,689,000 after buying an additional 8,218 shares during the last quarter. 14.52% of the stock is currently owned by hedge funds and other institutional investors.

Ohio Valley Banc Company Profile

(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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