BlackRock Inc. Purchases Shares of 245,733 Ohio Valley Banc Corp. $OVBC

Key Points

• BlackRock acquired 245,733 shares of Ohio Valley Banc in the second quarter, valued at approximately $10.7 million and representing about 5.22% of the company. Institutional investors collectively own 22.06% of the stock.
• Ohio Valley Banc reported quarterly earnings of $0.62 per share on $18.58 million in revenue, with a 14.31% net margin and 8.37% return on equity.
• The bank pays a quarterly dividend of $0.25, or $1.00 annually, yielding about 2.1%. Shares recently traded at $46.86, while MarketBeat’s consensus analyst rating is “Buy.”

BlackRock Inc. purchased a new position in Ohio Valley Banc Corp. (NASDAQ:OVBC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 245,733 shares of the bank's stock, valued at approximately $10,672,000. BlackRock Inc. owned approximately 5.22% of Ohio Valley Banc at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Empowered Funds LLC lifted 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 acquiring an additional 558 shares during the last quarter. Jane Street Group LLC bought a new position in Ohio Valley Banc in the 1st quarter valued at $232,000. Geode Capital Management LLC grew its position in Ohio Valley Banc by 119.1% in the 2nd quarter. Geode Capital Management LLC now owns 87,940 shares of the bank's stock valued at $2,835,000 after acquiring an additional 47,796 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in Ohio Valley Banc in the second quarter worth $58,000. Finally, New York State Common Retirement Fund purchased a new stake in Ohio Valley Banc in the second quarter worth $110,000. 22.06% of the stock is currently owned by institutional investors.

Ohio Valley Banc Trading Up 0.9%

Shares of NASDAQ:OVBC opened at $46.86 on Friday. Ohio Valley Banc Corp. has a 1 year low of $32.97 and a 1 year high of $54.96. The firm has a market capitalization of $220.76 million, a price-to-earnings ratio of 15.57 and a beta of 0.04. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.93 and a quick ratio of 0.93. The business's 50 day moving average price is $43.84 and its 200-day moving average price is $44.67.

Ohio Valley Banc (NASDAQ:OVBC - Get Free Report) last issued its quarterly earnings results on Monday, July 27th. The bank reported $0.62 EPS for the quarter. Ohio Valley Banc had a net margin of 14.31% and a return on equity of 8.37%. The company had revenue of $18.58 million during the quarter.

Ohio Valley Banc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Friday, July 24th were issued a $0.25 dividend. The ex-dividend date was Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a yield of 2.1%. Ohio Valley Banc's dividend payout ratio is presently 33.22%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Ohio Valley Banc from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Ohio Valley Banc presently has a consensus rating of "Buy".

Ohio Valley Banc Profile

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.

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