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) released its quarterly earnings results on Friday. The bank reported $0.89 EPS for the quarter, Zacks reports. The company had revenue of $17.38 million for the quarter. Ohio Valley Banc had a return on equity of 9.07% and a net margin of 14.81%.

Ohio Valley Banc Price Performance

OVBC stock traded down $0.61 during mid-day trading on Wednesday, hitting $33.66. 2,474 shares of the stock were exchanged, compared to its average volume of 9,253. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.90 and a quick ratio of 0.90. The business has a fifty day moving average price of $32.76 and a 200 day moving average price of $30.77. Ohio Valley Banc has a 12 month low of $21.86 and a 12 month high of $40.99. The stock has a market capitalization of $158.54 million, a price-to-earnings ratio of 11.45 and a beta of 0.11.

Ohio Valley Banc Dividend Announcement

The business also recently declared 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. This represents a $0.92 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, July 25th. Ohio Valley Banc's dividend payout ratio (DPR) is presently 31.29%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Ohio Valley Banc stock. Jane Street Group LLC purchased a new stake in shares of Ohio Valley Banc Corp. (NASDAQ:OVBC - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 8,906 shares of the bank's stock, valued at approximately $232,000. Jane Street Group LLC owned 0.19% of Ohio Valley Banc as of its most recent SEC filing. 22.06% of the stock is currently owned by institutional investors and hedge funds.

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.