Ohio Valley Banc Corp. (NASDAQ:OVBC) Sees Large Increase in Short Interest

Ohio Valley Banc Corp. (NASDAQ:OVBC) was the recipient of a significant growth in short interest in January. As of January 30th, there was short interest totaling 48,399 shares, a growth of 27.0% from the January 15th total of 38,102 shares. Approximately 1.1% of the company’s stock are short sold. Based on an average trading volume of 7,876 shares, the short-interest ratio is currently 6.1 days. Based on an average trading volume of 7,876 shares, the short-interest ratio is currently 6.1 days. Approximately 1.1% of the company’s stock are short sold.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Ohio Valley Banc

A number of hedge funds have recently modified their holdings of the stock. Deutsche Bank AG increased its position in Ohio Valley Banc by 25.1% in the 4th quarter. Deutsche Bank AG now owns 2,285 shares of the bank’s stock worth $91,000 after purchasing an additional 458 shares during the last quarter. Empowered Funds LLC lifted its position in Ohio Valley Banc by 6.4% during the 1st quarter. Empowered Funds LLC now owns 9,302 shares of the bank’s stock worth $242,000 after acquiring an additional 558 shares during the last quarter. Ritholtz Wealth Management boosted its stake in Ohio Valley Banc by 5.9% during the 4th quarter. Ritholtz Wealth Management now owns 13,372 shares of the bank’s stock valued at $535,000 after purchasing an additional 745 shares during the period. Bridgeway Capital Management LLC grew its stake in shares of Ohio Valley Banc by 2.5% in the second quarter. Bridgeway Capital Management LLC now owns 33,312 shares of the bank’s stock worth $1,074,000 after acquiring an additional 810 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of 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 purchasing an additional 1,197 shares during the period. 22.06% of the stock is owned by institutional investors and hedge funds.

Ohio Valley Banc Stock Performance

OVBC stock traded up $0.14 during mid-day trading on Monday, reaching $42.95. The company had a trading volume of 7,493 shares, compared to its average volume of 10,095. The stock’s 50-day simple moving average is $40.99 and its two-hundred day simple moving average is $37.99. The stock has a market capitalization of $202.29 million, a P/E ratio of 12.98 and a beta of -0.02. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.27. Ohio Valley Banc has a one year low of $25.75 and a one year high of $44.46.

Ohio Valley Banc (NASDAQ:OVBC) last posted its earnings results on Tuesday, January 27th. The bank reported $0.84 earnings per share (EPS) for the quarter. The firm 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 company also recently declared a quarterly dividend, which was paid on Tuesday, February 10th. Investors of record on Friday, January 23rd were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Friday, January 23rd. Ohio Valley Banc’s dividend payout ratio is 27.79%.

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.