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

Ohio Valley Banc (NASDAQ:OVBC) announced its quarterly earnings data on Tuesday. The bank reported $0.91 earnings per share for the quarter, Zacks reports. The business had revenue of $18.18 million for the quarter. Ohio Valley Banc had a net margin of 16.56% and a return on equity of 9.58%.

Ohio Valley Banc Trading Up 0.1%

NASDAQ OVBC traded up $0.06 during mid-day trading on Thursday, hitting $45.05. The company’s stock had a trading volume of 4,325 shares, compared to its average volume of 11,721. Ohio Valley Banc has a 52-week low of $27.50 and a 52-week high of $47.12. The stock’s fifty day simple moving average is $43.72 and its two-hundred day simple moving average is $40.77. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $212.23 million, a P/E ratio of 13.61 and a beta of -0.04.

Ohio Valley Banc Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, May 10th. Investors of record on Friday, April 24th will be issued a $0.25 dividend. The ex-dividend date is Friday, April 24th. This is a positive change from Ohio Valley Banc’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a yield of 2.2%. Ohio Valley Banc’s payout ratio is 30.21%.

Institutional Trading of Ohio Valley Banc

Several large investors have recently bought and sold shares of the company. Deutsche Bank AG grew its position in Ohio Valley Banc by 25.1% in the fourth quarter. Deutsche Bank AG now owns 2,285 shares of the bank’s stock valued at $91,000 after acquiring an additional 458 shares in the last quarter. Royal Bank of Canada grew its position in Ohio Valley Banc by 20.0% in the fourth quarter. Royal Bank of Canada now owns 3,019 shares of the bank’s stock valued at $120,000 after acquiring an additional 503 shares in the last quarter. Empowered Funds LLC grew its position in Ohio Valley Banc by 6.4% in the first quarter. Empowered Funds LLC now owns 9,302 shares of the bank’s stock valued at $242,000 after acquiring an additional 558 shares in the last quarter. Bridgeway Capital Management LLC grew its position in Ohio Valley Banc by 2.5% in the second quarter. Bridgeway Capital Management LLC now owns 33,312 shares of the bank’s stock valued at $1,074,000 after acquiring an additional 810 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Ohio Valley Banc by 66.4% in the third quarter. JPMorgan Chase & Co. now owns 2,999 shares of the bank’s stock valued at $111,000 after acquiring an additional 1,197 shares in the last quarter. Institutional investors and hedge funds own 22.06% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Ohio Valley Banc in a report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy”.

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.