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

Key Points

• Ohio Valley Banc shares moved above their 200-day moving average, reaching $45.85 before last trading at $44.71, compared with a 200-day average of $44.42.
• MarketBeat reports an overall “Buy” rating from the sole covering analyst, although Weiss Ratings recently downgraded the stock from “buy (b)” to “buy (b-).”
• The bank reported quarterly EPS of $0.62 on $18.58 million in revenue and maintains a quarterly dividend of $0.25 per share, equating to a 2.2% yield and a 33.22% payout ratio.

Ohio Valley Banc Corp. (NASDAQ:OVBC - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $44.42 and traded as high as $45.85. Ohio Valley Banc shares last traded at $44.71, with a volume of 40,412 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Ohio Valley Banc from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, August 14th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy".

Ohio Valley Banc Stock Down 1.2%

The company has a market capitalization of $210.58 million, a PE ratio of 14.85 and a beta of 0.04. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.93 and a current ratio of 0.93. The company's 50-day moving average is $44.26 and its 200 day moving average is $44.42.

Ohio Valley Banc (NASDAQ:OVBC - Get Free Report) last issued its earnings results on Monday, July 27th. The bank reported $0.62 earnings per share (EPS) for the quarter. The firm had revenue of $18.58 million for the quarter. Ohio Valley Banc had a net margin of 14.31% and a return on equity of 8.37%.

Ohio Valley Banc Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Friday, July 24th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.2%. The ex-dividend date was Friday, July 24th. Ohio Valley Banc's dividend payout ratio (DPR) is currently 33.22%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Kestra Advisory Services LLC purchased a new stake in shares of Ohio Valley Banc during the fourth quarter valued at $55,000. JPMorgan Chase & Co. bought a new stake in Ohio Valley Banc in the 2nd quarter worth about $58,000. GAMMA Investing LLC raised its position in Ohio Valley Banc by 2,993.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,516 shares of the bank's stock worth $66,000 after buying an additional 1,467 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Ohio Valley Banc in the 2nd quarter worth about $67,000. Finally, Deutsche Bank AG lifted its stake in Ohio Valley Banc by 25.1% during the 4th quarter. Deutsche Bank AG now owns 2,285 shares of the bank's stock valued at $91,000 after acquiring an additional 458 shares during the period. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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