Ohio Valley Banc (NASDAQ:OVBC) Stock Passes Above 200 Day Moving Average – What’s Next?

Ohio Valley Banc Corp. (NASDAQ:OVBC)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $33.13 and traded as high as $37.00. Ohio Valley Banc shares last traded at $36.61, with a volume of 3,501 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of Ohio Valley Banc from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th.

Ohio Valley Banc Trading Up 0.1%

The business’s fifty day moving average is $34.98 and its 200-day moving average is $33.13. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $172.47 million, a P/E ratio of 12.45 and a beta of 0.10.

Ohio Valley Banc (NASDAQ:OVBC) last released its quarterly earnings results on Friday, July 25th. The bank reported $0.89 earnings per share (EPS) for the quarter. Ohio Valley Banc had a net margin of 14.81% and a return on equity of 8.95%. The firm had revenue of $17.38 million during the quarter.

Ohio Valley Banc Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, August 10th. Shareholders of record on Friday, July 25th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Friday, July 25th. Ohio Valley Banc’s payout ratio is 31.29%.

Hedge Funds Weigh In On Ohio Valley Banc

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in shares of Ohio Valley Banc by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 91,075 shares of the bank’s stock worth $2,205,000 after acquiring an additional 1,099 shares during the period. Empowered Funds LLC raised its holdings in Ohio Valley Banc by 6.4% during the 1st quarter. Empowered Funds LLC now owns 9,302 shares of the bank’s stock worth $242,000 after purchasing an additional 558 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Ohio Valley Banc in the 1st quarter worth approximately $232,000. AA Financial Advisors LLC acquired a new position in shares of Ohio Valley Banc in the 2nd quarter worth approximately $219,000. Finally, Ritholtz Wealth Management bought a new stake in shares of Ohio Valley Banc in the 2nd quarter valued at $300,000. 22.06% of the stock is owned by institutional investors and hedge funds.

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.