Ohio Valley Banc Corp. (NASDAQ:OVBC) Sees Significant Drop in Short Interest

Ohio Valley Banc Corp. (NASDAQ:OVBC) saw a large decline in short interest during the month of December. As of December 31st, there was short interest totaling 35,761 shares, a decline of 29.7% from the December 15th total of 50,871 shares. Based on an average daily volume of 11,673 shares, the days-to-cover ratio is currently 3.1 days. Currently, 0.8% of the shares of the stock are sold short. Currently, 0.8% of the shares of the stock are sold short. Based on an average daily volume of 11,673 shares, the days-to-cover ratio is currently 3.1 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Ohio Valley Banc in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy”.

Ohio Valley Banc Trading Down 0.5%

Shares of Ohio Valley Banc stock traded down $0.20 during mid-day trading on Friday, hitting $40.06. The stock had a trading volume of 8,147 shares, compared to its average volume of 8,871. The firm has a 50-day moving average of $39.39 and a two-hundred day moving average of $36.92. The firm has a market cap of $188.68 million and a P/E ratio of 13.35. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.27. Ohio Valley Banc has a 12-month low of $22.10 and a 12-month high of $42.00.

Ohio Valley Banc (NASDAQ:OVBC) last released its quarterly earnings data on Friday, November 14th. The bank reported $0.64 EPS for the quarter. The firm had revenue of $16.35 million for the quarter. Ohio Valley Banc had a return on equity of 8.97% and a net margin of 14.97%.

Ohio Valley Banc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 10th. Investors of record on Friday, January 23rd will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, January 23rd. Ohio Valley Banc’s dividend payout ratio (DPR) is presently 30.67%.

Institutional Investors Weigh In On Ohio Valley Banc

A number of institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. acquired a new position in shares of Ohio Valley Banc in the 2nd quarter worth approximately $58,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Ohio Valley Banc during the second quarter worth $67,000. Bank of America Corp DE boosted its position in shares of 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 period. New York State Common Retirement Fund purchased a new position in shares of Ohio Valley Banc during the second quarter worth $110,000. Finally, AA Financial Advisors LLC purchased a new stake in shares of Ohio Valley Banc in the 2nd quarter valued at $219,000. 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.