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

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

Ohio Valley Banc Stock Performance

Shares of NASDAQ OVBC opened at $31.80 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.32. The firm’s 50-day moving average price is $26.52 and its two-hundred day moving average price is $25.37. Ohio Valley Banc has a 52-week low of $19.35 and a 52-week high of $32.81. The stock has a market capitalization of $149.81 million, a P/E ratio of 13.71 and a beta of -0.09.

Ohio Valley Banc (NASDAQ:OVBC) last issued its earnings results on Tuesday, January 28th. The bank reported $0.53 earnings per share (EPS) for the quarter. Ohio Valley Banc had a net margin of 12.37% and a return on equity of 7.44%.

Ohio Valley Banc Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Friday, January 24th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.77%. Ohio Valley Banc’s dividend payout ratio (DPR) is presently 37.93%.

Institutional Investors Weigh In On Ohio Valley Banc

A number of hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its holdings in shares of Ohio Valley Banc by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 91,075 shares of the bank’s stock valued at $2,205,000 after buying an additional 1,099 shares during the last quarter. Fourthstone LLC raised its holdings in shares of Ohio Valley Banc by 195.1% during the fourth quarter. Fourthstone LLC now owns 50,132 shares of the bank’s stock valued at $1,214,000 after buying an additional 33,145 shares during the last quarter. Finally, Empowered Funds LLC bought a new stake in shares of Ohio Valley Banc during the third quarter valued at approximately $204,000. Institutional investors own 22.06% of the company’s stock.

Ohio Valley Banc Company Profile

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.