Ohio Valley Banc (NASDAQ:OVBC) Announces Quarterly Earnings Results

Ohio Valley Banc (NASDAQ:OVBC) posted its quarterly earnings results on Tuesday. The bank reported $0.84 earnings per share for the quarter, Zacks reports. Ohio Valley Banc had a return on equity of 8.97% and a net margin of 14.97%.

Ohio Valley Banc Trading Up 0.8%

NASDAQ:OVBC traded up $0.32 during trading hours on Tuesday, hitting $40.64. The company had a trading volume of 1,841 shares, compared to its average volume of 7,627. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.91 and a quick ratio of 0.91. Ohio Valley Banc has a 52 week low of $22.85 and a 52 week high of $42.00. The company has a market capitalization of $191.43 million and a PE ratio of 13.48. The stock has a 50-day moving average price of $39.98 and a 200 day moving average price of $37.22.

Ohio Valley Banc Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 10th. Investors of record on Friday, January 23rd will be issued 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 is Friday, January 23rd. Ohio Valley Banc’s dividend payout ratio is currently 30.67%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC raised its stake in shares of 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 period. Bridgeway Capital Management LLC boosted its stake in shares of Ohio Valley Banc by 3.3% during the third quarter. Bridgeway Capital Management LLC now owns 34,404 shares of the bank’s stock valued at $1,272,000 after purchasing an additional 1,092 shares during the period. Empowered Funds LLC increased its stake in Ohio Valley Banc by 6.4% in the 1st quarter. Empowered Funds LLC now owns 9,302 shares of the bank’s stock worth $242,000 after buying an additional 558 shares during the period. Jane Street Group LLC bought a new stake in Ohio Valley Banc during the 1st quarter valued at about $232,000. Finally, New York State Common Retirement Fund purchased a new stake in Ohio Valley Banc in the 2nd quarter valued at about $110,000. Hedge funds and other institutional investors own 22.06% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Ohio Valley Banc in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy”.

Ohio Valley Banc Company Profile

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.