Ohio Valley Banc (NASDAQ:OVBC) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

Ohio Valley Banc Corp. (NASDAQ:OVBC) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $37.84 and traded as high as $44.46. Ohio Valley Banc shares last traded at $42.81, with a volume of 10,655 shares.

Analysts Set New Price Targets

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

Ohio Valley Banc Price Performance

The company’s 50 day simple moving average is $40.91 and its 200 day simple moving average is $37.84. The stock has a market cap of $201.64 million, a P/E ratio of 12.93 and a beta of -0.02. 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 (NASDAQ:OVBC) last released its quarterly earnings data on Tuesday, January 27th. The bank reported $0.84 EPS for the quarter. The business had revenue of $16.20 million during the quarter. Ohio Valley Banc had a net margin of 16.56% and a return on equity of 9.73%.

Ohio Valley Banc Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 10th. Stockholders of record on Friday, January 23rd were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.1%. Ohio Valley Banc’s dividend payout ratio (DPR) is currently 27.79%.

Hedge Funds Weigh In On Ohio Valley Banc

Several institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC lifted its stake in Ohio Valley Banc by 9.9% in the fourth quarter. Empowered Funds LLC now owns 12,318 shares of the bank’s stock valued at $492,000 after buying an additional 1,114 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of 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 purchasing an additional 458 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in shares of Ohio Valley Banc during the fourth quarter worth about $224,000. Ritholtz Wealth Management lifted its stake in Ohio Valley Banc by 5.9% in the 4th quarter. Ritholtz Wealth Management now owns 13,372 shares of the bank’s stock valued at $535,000 after acquiring an additional 745 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Ohio Valley Banc by 66.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,999 shares of the bank’s stock worth $111,000 after acquiring an additional 1,197 shares during the last quarter. 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.