Ohio Valley Banc (NASDAQ:OVBC) Stock Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Ohio Valley Banc shares rose above their 200-day moving average, reaching $45.37 versus the $44.54 average, with about 27,987 shares traded.
• The bank reported quarterly EPS of $0.62 on $18.58 million in revenue, with an 8.37% return on equity and a 14.31% net margin. Its average analyst rating remains “Buy,” although Weiss Ratings downgraded its rating slightly from “buy (b)” to “buy (b-).”
• Ohio Valley Banc paid a quarterly dividend of $0.25 per share, equivalent to $1.00 annually and a 2.2% yield; institutional investors own approximately 22.06% of the stock.

Ohio Valley Banc Corp. (NASDAQ:OVBC - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $44.54 and traded as high as $45.37. Ohio Valley Banc shares last traded at $45.37, with a volume of 27,987 shares changing hands.

Analyst Upgrades and Downgrades

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

Ohio Valley Banc Price Performance

The company has a debt-to-equity ratio of 0.29, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a 50 day moving average price of $43.84 and a 200-day moving average price of $44.54. The stock has a market capitalization of $213.69 million, a price-to-earnings ratio of 15.07 and a beta of 0.04.

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

Ohio Valley Banc Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 2.2%. Ohio Valley Banc's dividend payout ratio is presently 33.22%.

Hedge Funds Weigh In On Ohio Valley Banc

Several hedge funds and other institutional investors have recently modified their holdings of OVBC. Kestra Advisory Services LLC purchased a new stake in Ohio Valley Banc during the 4th quarter valued at about $55,000. JPMorgan Chase & Co. acquired a new stake in Ohio Valley Banc in the 2nd quarter valued at about $58,000. GAMMA Investing LLC lifted its stake 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 purchasing an additional 1,467 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Ohio Valley Banc in the 2nd quarter worth approximately $67,000. Finally, Deutsche Bank AG boosted its holdings in shares of Ohio Valley Banc by 25.1% during the 4th 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 last quarter. 22.06% of the stock is owned by hedge funds and other institutional investors.

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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