Ohio Valley Banc (NASDAQ:OVBC) Stock Price Crosses Above 200-Day Moving Average - Should You 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 passed 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.

Analyst Upgrades and Downgrades

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

Ohio Valley Banc Stock Performance

The business's fifty day moving average price is $33.45 and its 200-day moving average price is $32.15. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $170.93 million, a PE ratio of 12.34 and a beta of 0.16.

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

Ohio Valley Banc Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, August 10th. Investors of record on Friday, July 25th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Friday, July 25th. Ohio Valley Banc's dividend payout ratio (DPR) is 31.29%.

Hedge Funds Weigh In On Ohio Valley Banc

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OVBC. JPMorgan Chase & Co. purchased a new stake in shares of Ohio Valley Banc in the 2nd quarter valued at about $58,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Ohio Valley Banc in the second quarter worth approximately $67,000. Bank of America Corp DE increased its position in shares of Ohio Valley Banc by 104.0% in the second quarter. Bank of America Corp DE now owns 3,336 shares of the bank's stock worth $108,000 after purchasing an additional 1,701 shares during the last quarter. New York State Common Retirement Fund purchased a new stake in Ohio Valley Banc in the second quarter valued at approximately $110,000. Finally, AA Financial Advisors LLC bought a new stake in Ohio Valley Banc during the second quarter valued at approximately $219,000. 22.06% of the stock is currently owned by hedge funds and other 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.