Ohio Valley Banc (NASDAQ:OVBC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Ohio Valley Banc (NASDAQ:OVBC) from a hold rating to a buy rating in a research report released on Friday morning.

Ohio Valley Banc Price Performance

Shares of NASDAQ:OVBC opened at $30.18 on Friday. Ohio Valley Banc has a fifty-two week low of $19.50 and a fifty-two week high of $40.99. The business has a 50-day moving average of $34.07 and a two-hundred day moving average of $29.31. The stock has a market capitalization of $142.15 million, a P/E ratio of 11.26 and a beta of 0.12. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.90 and a quick ratio of 0.90.

Ohio Valley Banc (NASDAQ:OVBC) last announced its quarterly earnings results on Friday, April 25th. The bank reported $0.94 earnings per share for the quarter. Ohio Valley Banc had a return on equity of 8.35% and a net margin of 13.86%. The company had revenue of $16.79 million during the quarter.

Ohio Valley Banc Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, May 10th. Shareholders of record on Friday, April 25th were given a $0.23 dividend. The ex-dividend date was Friday, April 25th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.05%. This is a boost from Ohio Valley Banc’s previous quarterly dividend of $0.22. Ohio Valley Banc’s payout ratio is currently 34.33%.

Institutional Trading of Ohio Valley Banc

A number of institutional investors and hedge funds have recently made changes to their positions in OVBC. Jane Street Group LLC acquired a new stake in shares of Ohio Valley Banc in the first quarter worth about $232,000. Empowered Funds LLC lifted its position in shares of Ohio Valley Banc by 6.4% in the first quarter. Empowered Funds LLC now owns 9,302 shares of the bank’s stock worth $242,000 after buying an additional 558 shares during the last quarter. Fourthstone LLC increased its stake in shares of Ohio Valley Banc by 195.1% in the fourth quarter. Fourthstone LLC now owns 50,132 shares of the bank’s stock worth $1,214,000 after purchasing an additional 33,145 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Ohio Valley Banc by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 91,075 shares of the bank’s stock worth $2,205,000 after purchasing an additional 1,099 shares during the last quarter. Institutional investors and hedge funds own 22.06% of the company’s stock.

About Ohio Valley Banc

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.