Ohio Valley Banc (NASDAQ:OVBC) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Ohio Valley Banc Corp. (NASDAQ:OVBC - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $27.14 and traded as high as $38.75. Ohio Valley Banc shares last traded at $38.25, with a volume of 12,842 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Ohio Valley Banc in a research report on Tuesday, March 18th. They set a "hold" rating on the stock.

Ohio Valley Banc Trading Up 0.7 %

The business's 50-day simple moving average is $31.54 and its two-hundred day simple moving average is $27.14. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $180.20 million, a PE ratio of 16.49 and a beta of 0.06.

Ohio Valley Banc (NASDAQ:OVBC - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The bank reported $0.94 earnings per share for the quarter. Ohio Valley Banc had a return on equity of 7.44% and a net margin of 12.37%. The firm had revenue of $16.79 million during the quarter.

Ohio Valley Banc Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, May 10th. Investors of record on Friday, April 25th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, April 25th. This is a boost from Ohio Valley Banc's previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 2.41%. Ohio Valley Banc's dividend payout ratio is currently 34.33%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Ohio Valley Banc stock. Fourthstone LLC boosted its position in Ohio Valley Banc Corp. (NASDAQ:OVBC - Free Report) by 195.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,132 shares of the bank's stock after buying an additional 33,145 shares during the quarter. Fourthstone LLC owned approximately 1.06% of Ohio Valley Banc worth $1,214,000 at the end of the most recent quarter. Institutional investors and hedge funds own 22.06% of the company's stock.

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.

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