Ohio Valley Banc (NASDAQ:OVBC) Share Price Breaks Below 200-Day Moving Average - Here's Why

Key Points

• Ohio Valley Banc shares fell below their 200-day moving average, reaching $44.22 versus the average of $45.04, before last trading at $44.72.
• Analyst sentiment remains positive: Weiss Ratings upgraded the stock to “buy (b),” and the sole covering analyst rates it Buy.
• The company reported quarterly EPS of $0.62 on $18.58 million in revenue and maintains a quarterly dividend of $0.25, equivalent to a 2.2% annual yield.

Ohio Valley Banc Corp. (NASDAQ:OVBC - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $45.04 and traded as low as $44.22. Ohio Valley Banc shares last traded at $44.72, with a volume of 12,692 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Ohio Valley Banc from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy".

Ohio Valley Banc Price Performance

The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.29. The firm has a market cap of $210.68 million, a price-to-earnings ratio of 14.86 and a beta of 0.03. The stock has a 50-day moving average of $44.79 and a two-hundred day moving average of $45.04.

Ohio Valley Banc (NASDAQ:OVBC - Get Free Report) last posted its quarterly earnings data 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 return on equity of 8.37% and a net margin of 14.31%.

Ohio Valley Banc Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Friday, July 24th were issued a $0.25 dividend. The ex-dividend date was Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. Ohio Valley Banc's dividend payout ratio is currently 33.22%.

Institutional Trading of Ohio Valley Banc

Several large investors have recently made changes to their positions in the stock. Susquehanna International Group LLP bought a new stake in shares of Ohio Valley Banc during the 2nd quarter worth $4,500,000. Empowered Funds LLC acquired a new position in Ohio Valley Banc during the 2nd quarter worth $630,000. Corient Private Wealth LP bought a new stake in Ohio Valley Banc during the second quarter valued at about $1,226,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Ohio Valley Banc in the second quarter valued at about $7,665,000. Finally, BlackRock Inc. bought a new position in shares of Ohio Valley Banc in the second quarter worth about $10,672,000. Institutional investors own 22.06% of the company's stock.

Ohio Valley Banc Company Profile

Ohio Valley Banc Corp. NASDAQ: OVBC is a bank holding company headquartered in Gallipolis, Ohio. Its principal subsidiary, Ohio Valley Bank, is a community-focused financial institution that provides banking and financial services to individuals, families, businesses and public entities.

Ohio Valley Bank offers a range of deposit products, including checking, savings and time deposit accounts, as well as residential mortgage, commercial, agricultural, consumer and other loans. The bank also provides electronic banking services, cash management and other financial services designed to support personal and business customers.

Founded in 1872, Ohio Valley Banc Corp.

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.