Ohio Valley Banc (NASDAQ:OVBC) Stock Crosses Below 200 Day Moving Average of $30.17

Ohio Valley Banc Corp. (NASDAQ:OVBCGet Rating) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $30.17 and traded as low as $27.06. Ohio Valley Banc shares last traded at $28.35, with a volume of 10,205 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Ohio Valley Banc in a research report on Saturday. They issued a “hold” rating for the company.

Ohio Valley Banc Stock Performance

The company has a fifty day moving average of $29.94 and a 200 day moving average of $30.17. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $135.23 million, a P/E ratio of 11.81 and a beta of 0.21.

Ohio Valley Banc (NASDAQ:OVBCGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The bank reported $0.42 earnings per share for the quarter. The business had revenue of $13.19 million during the quarter. Ohio Valley Banc had a return on equity of 8.32% and a net margin of 20.98%.

Ohio Valley Banc Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 10th. Investors of record on Friday, July 29th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, July 28th. This is a positive change from Ohio Valley Banc’s previous quarterly dividend of $0.15. This represents a $0.84 annualized dividend and a yield of 2.96%. Ohio Valley Banc’s dividend payout ratio is currently 35.00%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Abundance Wealth Counselors acquired a new position in shares of Ohio Valley Banc in the 1st quarter worth $1,855,000. Petiole USA ltd purchased a new position in Ohio Valley Banc in the 4th quarter worth about $686,000. The Manufacturers Life Insurance Company lifted its stake in Ohio Valley Banc by 7.2% during the first quarter. The Manufacturers Life Insurance Company now owns 122,161 shares of the bank’s stock valued at $3,689,000 after buying an additional 8,218 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Ohio Valley Banc in the first quarter worth about $201,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Ohio Valley Banc by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 77,060 shares of the bank’s stock worth $2,239,000 after acquiring an additional 1,565 shares in the last quarter. Institutional investors and hedge funds own 14.52% of the company’s stock.

Ohio Valley Banc Company Profile

(Get Rating)

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.

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