Ohio Valley Banc (NASDAQ:OVBC) Stock Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Ohio Valley Banc shares crossed above their 200‑day moving average (200‑day MA $40.42) during Wednesday’s session, trading as high as $46.94 and last at $46.25 on volume of 7,906 shares.
• Weiss Ratings reaffirmed a "Buy" on OVBC and MarketBeat data shows the stock carries an average rating of Buy.
• Ohio Valley Banc raised its quarterly dividend to $0.25 (annualized $1.00) for a yield of 2.2%, with an ex‑dividend date of April 24 and payment on May 10; the payout ratio is about 27.8%.

Ohio Valley Banc Corp. (NASDAQ:OVBC - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $40.42 and traded as high as $46.94. Ohio Valley Banc shares last traded at $46.25, with a volume of 7,906 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "buy (b)" rating on shares of Ohio Valley Banc in a report on Friday, March 27th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Ohio Valley Banc has an average rating of "Buy".

Ohio Valley Banc Trading Down 0.5%

The firm has a 50-day moving average of $43.46 and a 200 day moving average of $40.42. The company has a market cap of $217.84 million, a P/E ratio of 13.97 and a beta of -0.04. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.31.

Ohio Valley Banc (NASDAQ:OVBC - Get Free Report) last issued its earnings results on Friday, March 13th. The bank reported $0.84 earnings per share for the quarter. The business had revenue of $16.60 million during the quarter. Ohio Valley Banc had a return on equity of 9.58% and a net margin of 16.56%.

Ohio Valley Banc Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, May 10th. Investors of record on Friday, April 24th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Friday, April 24th. This is a boost from Ohio Valley Banc's previous quarterly dividend of $0.23. Ohio Valley Banc's dividend payout ratio is presently 27.79%.

Hedge Funds Weigh In On Ohio Valley Banc

Several institutional investors have recently made changes to their positions in OVBC. Deutsche Bank AG raised its position in shares of Ohio Valley Banc by 25.1% during the fourth quarter. Deutsche Bank AG now owns 2,285 shares of the bank's stock worth $91,000 after purchasing an additional 458 shares during the period. Royal Bank of Canada grew its position in Ohio Valley Banc by 20.0% in the 4th quarter. Royal Bank of Canada now owns 3,019 shares of the bank's stock valued at $120,000 after purchasing an additional 503 shares during the period. Empowered Funds LLC increased its stake in Ohio Valley Banc by 6.4% during the 1st quarter. Empowered Funds LLC now owns 9,302 shares of the bank's stock valued at $242,000 after purchasing an additional 558 shares in the last quarter. Ritholtz Wealth Management increased its stake in Ohio Valley Banc by 5.9% during the 4th quarter. Ritholtz Wealth Management now owns 13,372 shares of the bank's stock valued at $535,000 after purchasing an additional 745 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its holdings in Ohio Valley Banc by 2.5% during the second 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. Institutional investors and hedge funds own 22.06% of the company's stock.

About Ohio Valley Banc

Ohio Valley Banc Corp is a bank holding company headquartered in Wheeling, West Virginia, operating through its principal subsidiary, The Ohio Valley Bank. As a locally focused financial institution, the company delivers a range of banking and financial solutions designed to meet the needs of individual, small business and commercial clients across its service area.

Through its subsidiary, Ohio Valley Banc offers traditional banking products including checking and savings accounts, certificates of deposit and consumer and residential mortgage loans.

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