Corient Private Wealth LP Purchases New Shares in Ohio Valley Banc Corp. $OVBC

Corient Private Wealth LP acquired a new position in shares of Ohio Valley Banc Corp. (NASDAQ:OVBC) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 31,621 shares of the bank’s stock, valued at approximately $1,226,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Ohio Valley Banc during the 2nd quarter worth about $10,672,000. Fourthstone LLC raised its position in Ohio Valley Banc by 172.2% in the 4th quarter. Fourthstone LLC now owns 198,804 shares of the bank’s stock valued at $7,948,000 after purchasing an additional 125,773 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Ohio Valley Banc during the second quarter worth approximately $7,665,000. Dimensional Fund Advisors LP lifted its holdings in shares of Ohio Valley Banc by 3.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 95,786 shares of the bank’s stock valued at $4,200,000 after buying an additional 3,098 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Ohio Valley Banc by 119.1% in the second 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. Institutional investors and hedge funds own 22.06% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings raised Ohio Valley Banc from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy”.

Ohio Valley Banc Price Performance

Shares of NASDAQ:OVBC opened at $46.86 on Friday. The firm has a market capitalization of $220.76 million, a P/E ratio of 15.57 and a beta of 0.04. The firm’s 50 day moving average is $43.84 and its two-hundred day moving average is $44.67. Ohio Valley Banc Corp. has a 52 week low of $32.97 and a 52 week high of $54.96. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.29.

Ohio Valley Banc (NASDAQ:OVBC) last announced its earnings results on Monday, July 27th. The bank reported $0.62 earnings per share (EPS) for the quarter. The firm had revenue of $18.58 million during the quarter. Ohio Valley Banc had a net margin of 14.31% and a return on equity of 8.37%.

Ohio Valley Banc Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Friday, July 24th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, July 24th. Ohio Valley Banc’s dividend payout ratio (DPR) is 33.22%.

Ohio Valley Banc Profile

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.