Ohio Valley Banc (NASDAQ:OVBC) Releases Earnings Results

Ohio Valley Banc (NASDAQ:OVBC) posted its earnings results on Tuesday. The bank reported $0.84 earnings per share (EPS) for the quarter, Zacks reports. Ohio Valley Banc had a net margin of 14.97% and a return on equity of 8.97%.

Ohio Valley Banc Price Performance

OVBC stock traded up $0.12 during trading on Tuesday, hitting $40.44. 1,829 shares of the stock traded hands, compared to its average volume of 7,627. The company has a 50 day simple moving average of $39.98 and a 200 day simple moving average of $37.22. Ohio Valley Banc has a one year low of $22.85 and a one year high of $42.00. The stock has a market cap of $190.49 million and a price-to-earnings ratio of 13.48. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.27.

Ohio Valley Banc Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 10th. Shareholders of record on Friday, January 23rd will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, January 23rd. Ohio Valley Banc’s dividend payout ratio is 30.67%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ohio Valley Banc in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy”.

Institutional Investors Weigh In On Ohio Valley Banc

A number of institutional investors and hedge funds have recently modified their holdings of OVBC. Geode Capital Management LLC boosted its holdings in shares of Ohio Valley Banc by 119.1% in the 2nd quarter. Geode Capital Management LLC now owns 87,940 shares of the bank’s stock valued at $2,835,000 after purchasing an additional 47,796 shares in the last quarter. Jane Street Group LLC bought a new position in Ohio Valley Banc during the first quarter valued at $232,000. New York State Common Retirement Fund purchased a new position in Ohio Valley Banc during the second quarter worth about $110,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Ohio Valley Banc in the 2nd quarter worth approximately $67,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Ohio Valley Banc in the 2nd quarter worth approximately $58,000. 22.06% of the stock is owned by institutional investors.

About Ohio Valley Banc

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.