Ohio Valley Banc (NASDAQ:OVBC) Releases Quarterly Earnings Results

Ohio Valley Banc (NASDAQ:OVBC) released its quarterly earnings results on Friday. The bank reported $0.64 EPS for the quarter, FiscalAI reports. Ohio Valley Banc had a return on equity of 9.10% and a net margin of 14.97%.The company had revenue of $16.35 million for the quarter.

Ohio Valley Banc Stock Down 0.6%

Shares of Ohio Valley Banc stock traded down $0.21 during trading hours on Friday, reaching $35.54. 4,628 shares of the company’s stock were exchanged, compared to its average volume of 12,253. The stock has a market cap of $167.43 million, a P/E ratio of 11.85 and a beta of 0.06. The company has a 50 day moving average of $36.30 and a two-hundred day moving average of $34.92. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.28. Ohio Valley Banc has a fifty-two week low of $21.86 and a fifty-two week high of $40.99.

Ohio Valley Banc Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Friday, October 31st were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, October 31st. This represents a $0.92 annualized dividend and a yield of 2.6%. Ohio Valley Banc’s payout ratio is 30.67%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC raised its stake in shares of 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 purchasing an additional 558 shares in the last quarter. Bridgeway Capital Management LLC lifted its stake in Ohio Valley Banc by 2.5% in the second quarter. Bridgeway Capital Management LLC now owns 33,312 shares of the bank’s stock valued at $1,074,000 after acquiring an additional 810 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Ohio Valley Banc by 66.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,999 shares of the bank’s stock valued at $111,000 after acquiring an additional 1,197 shares during the period. Bank of America Corp DE increased its stake 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 purchasing an additional 1,701 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Ohio Valley Banc during the 2nd quarter worth about $67,000. 22.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Ohio Valley Banc in a research report on Thursday. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Ohio Valley Banc Company Profile

Ohio Valley Banc Corp. operates as the bank holding company for The Ohio Valley Bank Company that provides commercial and consumer banking products and services. The company operates in two segments, Banking and Consumer Finance. It accepts various deposit products, including checking, savings, time, and money market accounts, as well as individual retirement accounts, demand deposits, NOW accounts, and certificates of deposit.