Corient Private Wealth LP Invests $1.23 Million in Ohio Valley Banc Corp. $OVBC

Key Points

• Corient Private Wealth LP initiated a $1.23 million position in Ohio Valley Banc, purchasing 31,621 shares, or approximately 0.67% of the company. Institutional investors and hedge funds 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 maintains a quarterly dividend of $0.25 per share, equivalent to a $1.00 annualized payout and a 2.1% yield. Weiss Ratings upgraded the stock to “buy (b),” while the broader analyst consensus remains “Buy.”

Corient Private Wealth LP bought a new stake in Ohio Valley Banc Corp. (NASDAQ:OVBC - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 31,621 shares of the bank's stock, valued at approximately $1,226,000. Corient Private Wealth LP owned about 0.67% of Ohio Valley Banc as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Deutsche Bank AG boosted its stake in Ohio Valley Banc by 25.1% in the 4th quarter. Deutsche Bank AG now owns 2,285 shares of the bank's stock valued at $91,000 after purchasing an additional 458 shares during the period. Royal Bank of Canada lifted its holdings in Ohio Valley Banc by 20.0% during the 4th quarter. Royal Bank of Canada now owns 3,019 shares of the bank's stock worth $120,000 after buying an additional 503 shares during the period. Empowered Funds LLC increased its position in shares of Ohio Valley Banc by 6.4% during 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 period. Bridgeway Capital Management LLC grew its stake in Ohio Valley Banc by 2.5% during the second quarter. Bridgeway Capital Management LLC now owns 33,312 shares of the bank's stock worth $1,074,000 after purchasing an additional 810 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Ohio Valley Banc by 66.4% during the third quarter. JPMorgan Chase & Co. now owns 2,999 shares of the bank's stock valued at $111,000 after purchasing an additional 1,197 shares during the period. 22.06% of the stock is currently owned by institutional investors and hedge funds.

Ohio Valley Banc Price Performance

Shares of Ohio Valley Banc stock opened at $46.86 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.29. Ohio Valley Banc Corp. has a 52 week low of $32.97 and a 52 week high of $54.96. The company has a market cap of $220.76 million, a PE ratio of 15.57 and a beta of 0.04. The business has a 50 day moving average of $43.84 and a 200 day moving average of $44.67.

Ohio Valley Banc (NASDAQ:OVBC - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The bank reported $0.62 earnings per share 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. Investors of record on Friday, July 24th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Friday, July 24th. Ohio Valley Banc's dividend payout ratio (DPR) is presently 33.22%.

Analysts Set New Price Targets

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

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.

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