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

Research analysts at StockNews.com assumed coverage on shares of Ohio Valley Banc (NASDAQ:OVBCGet Rating) in a research note issued to investors on Monday. The brokerage set a “hold” rating on the bank’s stock.

Ohio Valley Banc Trading Down 0.4 %

Shares of Ohio Valley Banc stock opened at $29.77 on Monday. The firm has a 50-day simple moving average of $27.46 and a two-hundred day simple moving average of $29.14. The company has a market cap of $142.06 million, a P/E ratio of 11.72 and a beta of 0.19. Ohio Valley Banc has a fifty-two week low of $22.68 and a fifty-two week high of $32.49. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.88 and a current ratio of 0.88.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Ohio Valley Banc by 166.0% during the third quarter. BlackRock Inc. now owns 47,165 shares of the bank’s stock worth $1,313,000 after purchasing an additional 29,433 shares in the last quarter. Ergoteles LLC purchased a new stake in shares of Ohio Valley Banc during the third quarter worth about $263,000. The Manufacturers Life Insurance Company increased its stake in shares of 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 purchasing an additional 8,218 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Ohio Valley Banc during the first quarter worth about $201,000. Finally, State Street Corp increased its stake in shares of Ohio Valley Banc by 12.5% during the second quarter. State Street Corp now owns 12,523 shares of the bank’s stock worth $378,000 after purchasing an additional 1,394 shares in the last quarter. Institutional investors and hedge funds own 14.52% of the company’s stock.

Ohio Valley Banc Company Profile

(Get Rating)

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.

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