Ohio Valley Banc (NASDAQ:OVBC) Stock Price Breaks Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Ohio Valley Banc shares fell below their 200-day moving average of $45.21, reaching $44.84 before last trading at $46.10 on volume of 28,685 shares.
• Weiss Ratings upgraded the stock from “buy (b-)” to “buy (b),” while the company retains an average “Buy” rating from the one analyst covering it.
• The bank reported quarterly EPS of $0.62 on revenue of $18.58 million, with a 14.31% net margin; institutional investors own 22.06% of outstanding shares.

Ohio Valley Banc Corp. (NASDAQ:OVBC - Get Free Report) shares passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $45.21 and traded as low as $44.84. Ohio Valley Banc shares last traded at $46.10, with a volume of 28,685 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Ohio Valley Banc from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, October 2nd. One analyst has rated the stock with a Buy rating. Based on data from MarketBeat, the company presently has an average rating of "Buy".

Ohio Valley Banc Stock Up 1.5%

The firm's 50-day moving average price is $45.19 and its 200 day moving average price is $45.21. 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 company has a market capitalization of $217.13 million, a price-to-earnings ratio of 15.32 and a beta of 0.03.

Ohio Valley Banc (NASDAQ:OVBC - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The bank reported $0.62 earnings per share (EPS) for the quarter. The business 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%.

Hedge Funds Weigh In On Ohio Valley Banc

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Ohio Valley Banc during the 2nd quarter worth $10,672,000. The Manufacturers Life Insurance Company acquired a new stake in Ohio Valley Banc in the second quarter valued at about $7,665,000. Susquehanna International Group LLP bought a new position in shares of Ohio Valley Banc in the second quarter worth about $4,500,000. Dimensional Fund Advisors LP lifted its holdings in shares of Ohio Valley Banc by 3.3% in the first quarter. Dimensional Fund Advisors LP now owns 95,786 shares of the bank's stock worth $4,200,000 after acquiring an additional 3,098 shares during the last quarter. Finally, Corient Private Wealth LP bought a new position in shares of Ohio Valley Banc in the second quarter worth about $1,226,000. Institutional investors own 22.06% of the company's stock.

About Ohio Valley Banc

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.

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