Ohio Valley Banc (NASDAQ:OVBC) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Ohio Valley Banc Corp. (NASDAQ:OVBC) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $41.33 and traded as high as $46.00. Ohio Valley Banc shares last traded at $45.65, with a volume of 7,939 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Ohio Valley Banc in a research note on Friday, March 27th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Ohio Valley Banc currently has a consensus rating of “Buy”.

Ohio Valley Banc Price Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.93 and a current ratio of 0.93. The business’s 50 day simple moving average is $43.97 and its 200-day simple moving average is $41.33. The stock has a market capitalization of $215.01 million and a price-to-earnings ratio of 13.92.

Ohio Valley Banc (NASDAQ:OVBC) last posted its earnings results on Tuesday, April 28th. The bank reported $0.91 earnings per share (EPS) for the quarter. The firm had revenue of $18.18 million during the quarter. Ohio Valley Banc had a net margin of 16.05% and a return on equity of 9.38%.

Ohio Valley Banc Increases Dividend

The company also recently announced 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. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Friday, April 24th. This is a positive change from Ohio Valley Banc’s previous quarterly dividend of $0.23. Ohio Valley Banc’s dividend payout ratio (DPR) is presently 30.49%.

Institutional Trading of Ohio Valley Banc

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kestra Advisory Services LLC bought a new stake in shares of Ohio Valley Banc during the 4th quarter worth about $55,000. JPMorgan Chase & Co. bought a new stake in shares of Ohio Valley Banc during the 2nd quarter worth about $58,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Ohio Valley Banc during the 2nd quarter worth about $67,000. Deutsche Bank AG raised its position in shares of Ohio Valley Banc by 25.1% during the 4th quarter. Deutsche Bank AG now owns 2,285 shares of the bank’s stock worth $91,000 after buying an additional 458 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Ohio Valley Banc by 104.0% during the 2nd 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 in the last quarter. 22.06% of the stock is currently owned by institutional investors.

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.