Ohio Valley Banc (NASDAQ:OVBC) Issues Earnings Results

Ohio Valley Banc (NASDAQ:OVBC) issued its earnings results on Monday. The bank reported $0.62 earnings per share for the quarter, Zacks reports. Ohio Valley Banc had a return on equity of 9.29% and a net margin of 16.05%.

Ohio Valley Banc Stock Up 1.7%

Shares of NASDAQ:OVBC traded up $0.70 during midday trading on Monday, hitting $42.84. 8,382 shares of the company’s stock traded hands, compared to its average volume of 22,946. The firm’s fifty day moving average price is $45.73 and its two-hundred day moving average price is $44.00. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.94 and a current ratio of 0.94. Ohio Valley Banc has a twelve month low of $31.61 and a twelve month high of $54.96. The company has a market cap of $201.78 million, a PE ratio of 13.06 and a beta of 0.03.

Ohio Valley Banc Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Friday, July 24th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, July 24th. Ohio Valley Banc’s dividend payout ratio (DPR) is currently 30.49%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Fourthstone LLC boosted its position in shares of Ohio Valley Banc by 172.2% in the fourth quarter. Fourthstone LLC now owns 198,804 shares of the bank’s stock worth $7,948,000 after buying an additional 125,773 shares during the period. Geode Capital Management LLC raised its holdings in shares of Ohio Valley Banc by 119.1% during the 2nd quarter. Geode Capital Management LLC now owns 87,940 shares of the bank’s stock valued at $2,835,000 after buying an additional 47,796 shares during the period. State Street Corp lifted its position in Ohio Valley Banc by 3.5% during the 4th quarter. State Street Corp now owns 44,885 shares of the bank’s stock worth $1,795,000 after acquiring an additional 1,536 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in Ohio Valley Banc by 3.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 35,518 shares of the bank’s stock worth $1,420,000 after acquiring an additional 1,114 shares in the last quarter. Finally, Empowered Funds LLC boosted its holdings in Ohio Valley Banc by 9.9% in the 4th quarter. Empowered Funds LLC now owns 12,318 shares of the bank’s stock worth $492,000 after acquiring an additional 1,114 shares during the period. 22.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Ohio Valley Banc from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, June 23rd. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Ohio Valley Banc presently 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.