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

Key Points

• Ohio Valley Banc shares fell below their 200-day moving average, trading as low as $43.75 compared with the $44.90 average, before closing at $44.15.
• Weiss Ratings downgraded the stock from “buy (b)” to “buy (b-),” though the sole covering analyst still rates it Buy.
• The company reported quarterly EPS of $0.62 and maintains a $0.25 quarterly dividend, equating to a 2.3% yield and a 33.22% payout ratio.

Shares of Ohio Valley Banc Corp. (NASDAQ:OVBC - Get Free Report) passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $44.90 and traded as low as $43.75. Ohio Valley Banc shares last traded at $44.15, with a volume of 39,051 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings cut Ohio Valley Banc from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, September 16th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy".

Ohio Valley Banc Price Performance

The company's 50-day moving average price is $44.59 and its two-hundred day moving average price is $44.90. 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 company has a market capitalization of $207.95 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 earnings results on Monday, July 27th. The bank reported $0.62 EPS for the quarter. Ohio Valley Banc had a net margin of 14.31% and a return on equity of 8.37%. The business had revenue of $18.58 million during the quarter.

Ohio Valley Banc Announces Dividend

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

Hedge Funds Weigh In On Ohio Valley Banc

Several institutional investors and hedge funds have recently made changes to their positions in OVBC. GAMMA Investing LLC lifted its holdings in Ohio Valley Banc by 2,993.9% during 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 during the last quarter. Deutsche Bank AG acquired a new position in Ohio Valley Banc in the 2nd quarter valued at $154,000. Arrowstreet Capital Limited Partnership bought a new position in Ohio Valley Banc during the 1st quarter worth $256,000. Bank of New York Mellon Corp bought a new position in Ohio Valley Banc during the 2nd quarter worth $389,000. Finally, Empowered Funds LLC lifted 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 worth $594,000 after buying an additional 1,216 shares in the last quarter. Institutional investors and hedge funds own 22.06% of the company's stock.

About Ohio Valley Banc

Ohio Valley Banc Corp. is a bank holding company headquartered in Gallipolis, Ohio. Through its principal subsidiary, Ohio Valley Bank, the company provides community banking services to individuals, families, farmers and businesses.

Ohio Valley Bank offers deposit products, consumer and commercial loans, residential mortgage lending, electronic banking and other traditional financial services. Its lending activities include personal, real estate, agricultural and business financing, while its banking services include checking and savings accounts, certificates of deposit, online banking and related payment services.

Founded in 1872, Ohio Valley Banc Corp.

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