StockNews.com Begins Coverage on Ohio Valley Banc (NASDAQ:OVBC)

StockNews.com initiated coverage on shares of Ohio Valley Banc (NASDAQ:OVBC) in a report published on Tuesday. The firm issued a hold rating on the bank’s stock.

Ohio Valley Banc Stock Performance

Shares of Ohio Valley Banc stock opened at $23.50 on Tuesday. The firm has a market capitalization of $112.57 million, a P/E ratio of 8.87 and a beta of 0.11. Ohio Valley Banc has a 52 week low of $21.67 and a 52 week high of $25.95. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.37. The firm’s 50 day moving average is $24.30 and its two-hundred day moving average is $23.82.

Ohio Valley Banc (NASDAQ:OVBC) last announced its quarterly earnings results on Thursday, January 25th. The bank reported $0.68 EPS for the quarter. The company had revenue of $14.90 million for the quarter. Ohio Valley Banc had a net margin of 16.96% and a return on equity of 9.08%.

Ohio Valley Banc Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend is Thursday, April 25th. Ohio Valley Banc’s dividend payout ratio is presently 33.21%.

Institutional Investors Weigh In On Ohio Valley Banc

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE acquired a new stake in Ohio Valley Banc in the first quarter valued at $38,000. Bank of New York Mellon Corp purchased a new position in shares of Ohio Valley Banc in the first quarter valued at $201,000. Northern Trust Corp increased its position in shares of Ohio Valley Banc by 8.0% in the second quarter. Northern Trust Corp now owns 11,872 shares of the bank’s stock valued at $288,000 after buying an additional 877 shares in the last quarter. State Street Corp increased its position in Ohio Valley Banc by 12.4% during the 1st quarter. State Street Corp now owns 11,129 shares of the bank’s stock worth $336,000 after purchasing an additional 1,224 shares in the last quarter. Finally, CI Private Wealth LLC purchased a new stake in Ohio Valley Banc during the 4th quarter worth about $816,000. 22.06% of the stock is owned by institutional investors and hedge funds.

About Ohio Valley Banc

Ohio Valley Banc Corp. operates as the bank holding company for The Ohio Valley Bank Company that provides commercial and consumer banking products and services. The company operates in two segments, Banking and Consumer Finance. It accepts various deposit products, including checking, savings, time, and money market accounts, as well as individual retirement accounts, demand deposits, NOW accounts, and certificates of deposit.