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

Key Points

• Ohio Valley Banc reported quarterly EPS of $0.62, with a 16.05% net margin and 9.29% return on equity.
• The stock rose 1.7% to $42.84 during Monday trading, while the company announced a quarterly dividend of $0.25 per share, equivalent to a 2.3% annualized yield.
• Analyst sentiment remains positive with an average “Buy” rating, although Weiss Ratings downgraded the stock from “buy (b+)” to “buy (b).” Institutional investors own 22.06% of the company.

Ohio Valley Banc (NASDAQ:OVBC - Get Free Report) released its quarterly earnings data on Monday. The bank reported $0.62 earnings per share (EPS) for the quarter, Zacks reports. Ohio Valley Banc had a net margin of 16.05% and a return on equity of 9.29%.

Ohio Valley Banc Stock Up 1.7%

NASDAQ OVBC traded up $0.70 during mid-day trading on Monday, reaching $42.84. 7,824 shares of the company's stock traded hands, compared to its average volume of 22,944. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.30. Ohio Valley Banc has a 1-year low of $31.61 and a 1-year high of $54.96. The company has a fifty day simple moving average of $45.73 and a 200-day simple moving average of $44.00. The company has a market cap of $201.78 million, a price-to-earnings ratio of 13.06 and a beta of 0.03.

Ohio Valley Banc Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Friday, July 24th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, July 24th. Ohio Valley Banc's dividend payout ratio (DPR) is 30.49%.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Ohio Valley Banc from a "buy (b+)" rating to a "buy (b)" rating in a research note on Tuesday, June 23rd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy".

Institutional Trading of Ohio Valley Banc

Hedge funds have recently made changes to their positions in the stock. Deutsche Bank AG raised its holdings in Ohio Valley Banc by 25.1% in the fourth quarter. Deutsche Bank AG now owns 2,285 shares of the bank's stock valued at $91,000 after acquiring an additional 458 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Ohio Valley Banc by 20.0% in the 4th quarter. Royal Bank of Canada now owns 3,019 shares of the bank's stock valued at $120,000 after purchasing an additional 503 shares in the last quarter. Empowered Funds LLC lifted 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 purchasing an additional 558 shares during the last quarter. Bridgeway Capital Management LLC grew 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 worth $1,074,000 after purchasing an additional 810 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Ohio Valley Banc by 66.4% in the third quarter. JPMorgan Chase & Co. now owns 2,999 shares of the bank's stock worth $111,000 after purchasing an additional 1,197 shares in the last quarter. Institutional investors and hedge funds own 22.06% of the company's stock.

Ohio Valley Banc Company 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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