Ohio Valley Banc (NASDAQ:OVBC) Stock Breaks Below 200-Day Moving Average – Here’s What Happened

Shares of Ohio Valley Banc Corp. (NASDAQ:OVBC) crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $45.21 and traded as low as $44.84. Ohio Valley Banc shares last traded at $46.10, with a volume of 28,685 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Ohio Valley Banc from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 2nd. One research analyst has rated the stock with a Buy rating. Based on data from MarketBeat, the company presently has an average rating of “Buy”.

Ohio Valley Banc Price Performance

The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market cap of $217.22 million, a price-to-earnings ratio of 15.32 and a beta of 0.03. The business has a fifty day moving average price of $45.30 and a 200 day moving average price of $45.27.

Ohio Valley Banc (NASDAQ:OVBC) last released its quarterly earnings data on Monday, July 27th. The bank reported $0.62 earnings per share for the quarter. Ohio Valley Banc had a return on equity of 8.37% and a net margin of 14.31%. The business had revenue of $18.58 million for the quarter.

Hedge Funds Weigh In On Ohio Valley Banc

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of Ohio Valley Banc during the second quarter worth $10,672,000. The Manufacturers Life Insurance Company acquired a new position in shares of Ohio Valley Banc in the second quarter valued at approximately $7,665,000. Susquehanna International Group LLP acquired a new position in shares of Ohio Valley Banc in the second quarter valued at approximately $4,500,000. Corient Private Wealth LP bought a new position in Ohio Valley Banc in the 2nd quarter valued at approximately $1,226,000. Finally, Opal Capital LLC acquired a new position in Ohio Valley Banc in the 4th quarter valued at approximately $1,140,000. 22.06% of the stock is currently owned by institutional investors and hedge funds.

About Ohio Valley Banc

Ohio Valley Banc Corp. (NASDAQ: OVBC) is a bank holding company headquartered in Gallipolis, Ohio. Its principal subsidiary, Ohio Valley Bank, is a community-focused financial institution that provides banking and financial services to individuals, families, businesses and public entities.

Ohio Valley Bank offers a range of deposit products, including checking, savings and time deposit accounts, as well as residential mortgage, commercial, agricultural, consumer and other loans. The bank also provides electronic banking services, cash management and other financial services designed to support personal and business customers.

Founded in 1872, Ohio Valley Banc Corp.