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

Key Points

• Ohio Valley Banc shares moved above their 200-day moving average, reaching $45.19 before last trading at $44.17; the 200-day average is $44.24.
• The bank reported quarterly earnings of $0.62 per share on $18.58 million in revenue and maintains a “Buy” consensus rating, although Weiss Ratings downgraded its rating from “buy (b+)” to “buy (b).”
• Ohio Valley Banc paid a quarterly dividend of $0.25 per share, equivalent to a $1.00 annualized dividend and a 2.3% yield; institutional investors own 22.06% of the company.

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 $44.24 and traded as high as $45.19. Ohio Valley Banc shares last traded at $44.17, with a volume of 24,020 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Ohio Valley Banc from a "buy (b+)" rating to a "buy (b)" rating in a research report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy".

Ohio Valley Banc Stock Performance

The stock's 50-day moving average price is $44.63 and its 200-day moving average price is $44.24. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $208.08 million, a P/E ratio of 14.67 and a beta of 0.04.

Ohio Valley Banc (NASDAQ:OVBC - Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The bank reported $0.62 earnings per share for the quarter. The business had revenue of $18.58 million during the quarter. Ohio Valley Banc had a net margin of 14.31% and a return on equity of 8.43%.

Ohio Valley Banc Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Friday, July 24th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.00 annualized dividend and a dividend yield of 2.3%. Ohio Valley Banc's dividend payout ratio is 33.22%.

Institutional Trading of Ohio Valley Banc

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Ohio Valley Banc during the 2nd quarter valued at approximately $10,672,000. Deutsche Bank AG acquired a new stake in Ohio Valley Banc in the second quarter worth $154,000. Bank of New York Mellon Corp bought a new stake in Ohio Valley Banc in the second quarter valued at $389,000. GAMMA Investing LLC lifted its stake in Ohio Valley Banc by 2,993.9% in the second quarter. GAMMA Investing LLC now owns 1,516 shares of the bank's stock valued at $66,000 after buying an additional 1,467 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of Ohio Valley Banc by 9.9% during the first quarter. Empowered Funds LLC now owns 13,534 shares of the bank's stock valued at $594,000 after acquiring an additional 1,216 shares during the period. Institutional investors own 22.06% of the company's stock.

Ohio Valley Banc Company Profile

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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