Ohio Valley Banc (NASDAQ:OVBC) Shares Pass Above 200 Day Moving Average - Time to Sell?

Key Points

• Ohio Valley Banc's stock recently crossed above its two hundred day moving average of $31.94, reaching a trading price of $35.69.
• Wall Street analysts have revised the bank's rating from a "buy" to a "hold", reflecting a shift in investor sentiment.
• The bank announced a dividend of $0.23 per share, with a 2.6% dividend yield, and a payout ratio of 31.29%.

Ohio Valley Banc Corp. (NASDAQ:OVBC - Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $31.94 and traded as high as $35.69. Ohio Valley Banc shares last traded at $35.69, with a volume of 9,996 shares.

Wall Street Analyst Weigh In

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

Ohio Valley Banc Price Performance

The business's 50-day moving average price is $33.54 and its 200 day moving average price is $32.35. The company has a market capitalization of $166.92 million, a P/E ratio of 12.05 and a beta of 0.16. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.28.

Ohio Valley Banc (NASDAQ:OVBC - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The bank reported $0.89 earnings per share for the quarter. The firm had revenue of $17.38 million for the quarter. Ohio Valley Banc had a net margin of 14.81% and a return on equity of 8.95%.

Ohio Valley Banc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, August 10th. Shareholders of record on Friday, July 25th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Friday, July 25th. Ohio Valley Banc's payout ratio is currently 31.29%.

Hedge Funds Weigh In On Ohio Valley Banc

Institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in Ohio Valley Banc by 1.2% during the fourth 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 last quarter. Empowered Funds LLC lifted its stake in Ohio Valley Banc by 6.4% in the first quarter. Empowered Funds LLC now owns 9,302 shares of the bank's stock worth $242,000 after acquiring an additional 558 shares during the period. Jane Street Group LLC bought a new stake in shares of Ohio Valley Banc during the 1st quarter valued at about $232,000. AA Financial Advisors LLC bought a new stake in Ohio Valley Banc during the 2nd quarter valued at approximately $219,000. Finally, Ritholtz Wealth Management purchased a new stake in Ohio Valley Banc in the second quarter worth $300,000. 22.06% of the stock is currently owned by institutional investors.

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.