Ohio Valley Banc (NASDAQ:OVBC) Announces Earnings Results

Key Points

• Ohio Valley Banc reported an earnings per share (EPS) of $0.89 for the quarter, with a return on equity of 8.35% and a net margin of 13.86%.
• The bank declared a quarterly dividend of $0.23 per share, which will be paid on August 10th, representing an annualized dividend of $0.92 and a yield of 2.69%.
• Jane Street Group LLC recently purchased a new stake in Ohio Valley Banc, acquiring 8,906 shares valued at approximately $232,000, increasing institutional ownership to 22.06% of the stock.

Ohio Valley Banc (NASDAQ:OVBC - Get Free Report) issued its quarterly earnings data on Friday. The bank reported $0.89 EPS for the quarter, Zacks reports. Ohio Valley Banc had a net margin of 14.81% and a return on equity of 9.07%. The company had revenue of $17.38 million during the quarter.

Ohio Valley Banc Stock Up 0.1%

NASDAQ:OVBC traded up $0.02 during mid-day trading on Monday, hitting $34.27. 7,005 shares of the company's stock traded hands, compared to its average volume of 9,801. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $161.41 million, a P/E ratio of 11.66 and a beta of 0.11. The company has a fifty day moving average of $32.83 and a 200 day moving average of $30.68. Ohio Valley Banc has a twelve month low of $21.86 and a twelve month high of $40.99.

Ohio Valley Banc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, August 10th. Stockholders of record on Friday, July 25th will be given a $0.23 dividend. The ex-dividend date is Friday, July 25th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.68%. Ohio Valley Banc's payout ratio is 31.29%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Ohio Valley Banc from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th.

Hedge Funds Weigh In On Ohio Valley Banc

An institutional investor recently raised its position in Ohio Valley Banc stock. Empowered Funds LLC lifted its position in Ohio Valley Banc Corp. (NASDAQ:OVBC - Free Report) by 6.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,302 shares of the bank's stock after purchasing an additional 558 shares during the period. Empowered Funds LLC owned about 0.20% of Ohio Valley Banc worth $242,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 22.06% of the company's stock.

Ohio Valley Banc Company Profile

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.