Ohio Valley Banc (NASDAQ:OVBC) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Ohio Valley Banc Corp. shares have surpassed their 200-day moving average, reaching a high of $37.00 before last trading at $36.61.
• Wall Street Zen has downgraded Ohio Valley Banc from a "buy" to a "hold" rating, reflecting a shift in analyst sentiment.
• The company recently announced a quarterly dividend of $0.23 per share, yielding 2.5%, with a payout ratio of 31.29%.

Ohio Valley Banc Corp. (NASDAQ:OVBC - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $33.13 and traded as high as $37.00. Ohio Valley Banc shares last traded at $36.61, with a volume of 3,501 shares changing hands.

Analyst Ratings Changes

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

Ohio Valley Banc Stock Performance

The company has a market cap of $175.14 million, a P/E ratio of 12.65 and a beta of 0.10. 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 business has a 50-day moving average of $35.14 and a two-hundred day moving average of $33.33.

Ohio Valley Banc (NASDAQ:OVBC - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The bank reported $0.89 EPS 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 during the quarter.

Ohio Valley Banc Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC grew its position in shares of Ohio Valley Banc by 119.1% in the 2nd quarter. Geode Capital Management LLC now owns 87,940 shares of the bank's stock worth $2,835,000 after buying an additional 47,796 shares during the last quarter. Bridgeway Capital Management LLC grew its position in shares of Ohio Valley Banc by 2.5% in the 2nd quarter. Bridgeway Capital Management LLC now owns 33,312 shares of the bank's stock worth $1,074,000 after buying an additional 810 shares during the last quarter. Empowered Funds LLC grew its position in shares of Ohio Valley Banc by 6.4% in the 1st quarter. Empowered Funds LLC now owns 9,302 shares of the bank's stock worth $242,000 after buying an additional 558 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Ohio Valley Banc during the first quarter valued at about $232,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Ohio Valley Banc in the 2nd quarter valued at approximately $110,000. Hedge funds and other institutional investors own 22.06% of the company's stock.

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.