Ohio Valley Banc (NASDAQ:OVBC) Shares Cross Above 200 Day Moving Average - Here's Why

Ohio Valley Banc Corp. (NASDAQ:OVBC - Get Free Report)'s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $28.87 and traded as high as $32.08. Ohio Valley Banc shares last traded at $31.95, with a volume of 5,782 shares trading hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Ohio Valley Banc from a "hold" rating to a "buy" rating in a research report on Monday, May 19th.

Ohio Valley Banc Stock Performance

The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.32. The stock's fifty day moving average is $33.86 and its two-hundred day moving average is $28.93. The firm has a market capitalization of $148.87 million, a price-to-earnings ratio of 13.62 and a beta of 0.15.

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

Ohio Valley Banc Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, May 10th. Stockholders of record on Friday, April 25th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date was Friday, April 25th. This is a boost from Ohio Valley Banc's previous quarterly dividend of $0.22. Ohio Valley Banc's dividend payout ratio (DPR) is currently 34.33%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Fourthstone LLC grew its holdings in shares of Ohio Valley Banc by 195.1% during the fourth quarter. Fourthstone LLC now owns 50,132 shares of the bank's stock worth $1,214,000 after purchasing an additional 33,145 shares during the last quarter. Jane Street Group LLC bought a new stake in Ohio Valley Banc during the 1st quarter worth approximately $232,000. Dimensional Fund Advisors LP increased its position in Ohio Valley Banc by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 91,075 shares of the bank's stock valued at $2,205,000 after acquiring an additional 1,099 shares during the period. Finally, Empowered Funds LLC lifted its holdings 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 period. 22.06% of the stock is owned by institutional investors.

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.