Ohio Valley Banc (NASDAQ:OVBC) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Ohio Valley Banc (NASDAQ:OVBC – Get Rating) in a research report sent to investors on Monday. The brokerage issued a hold rating on the bank’s stock.

Ohio Valley Banc Stock Performance

NASDAQ:OVBC opened at $29.34 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. The stock has a 50 day simple moving average of $29.76 and a 200 day simple moving average of $30.23. Ohio Valley Banc has a 1-year low of $24.57 and a 1-year high of $32.29. The stock has a market cap of $140.01 million, a P/E ratio of 11.37 and a beta of 0.23.

Ohio Valley Banc (NASDAQ:OVBC – Get Rating) last announced its earnings results on Thursday, April 28th. The bank reported $0.87 earnings per share (EPS) for the quarter. Ohio Valley Banc had a net margin of 22.62% and a return on equity of 8.83%. The company had revenue of $13.71 million during the quarter.

Ohio Valley Banc Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 10th. Stockholders of record on Friday, July 29th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.86%. This is an increase from Ohio Valley Banc’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, July 28th. Ohio Valley Banc’s payout ratio is presently 32.56%.

Institutional Investors Weigh In On Ohio Valley Banc

A number of large investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its stake in Ohio Valley Banc by 7.2% during the first quarter. The Manufacturers Life Insurance Company now owns 122,161 shares of the bank’s stock worth $3,689,000 after acquiring an additional 8,218 shares in the last quarter. State Street Corp increased its holdings in Ohio Valley Banc by 12.4% in the first quarter. State Street Corp now owns 11,129 shares of the bank’s stock valued at $336,000 after purchasing an additional 1,224 shares during the period. Vanguard Group Inc. raised its position in shares of Ohio Valley Banc by 0.7% during the first quarter. Vanguard Group Inc. now owns 155,128 shares of the bank’s stock worth $4,654,000 after acquiring an additional 1,044 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Ohio Valley Banc by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 77,454 shares of the bank’s stock valued at $2,339,000 after purchasing an additional 394 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Ohio Valley Banc in the first quarter valued at $201,000. 13.61% of the stock is currently owned by institutional investors and hedge funds.

About Ohio Valley Banc

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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.

Further Reading

• Get a free copy of the StockNews.com research report on Ohio Valley Banc (OVBC)
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