Ohio Valley Banc (NASDAQ:OVBC) Shares Pass Above 200 Day Moving Average – Here’s Why

Ohio Valley Banc Corp. (NASDAQ:OVBC) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $24.38 and traded as high as $26.34. Ohio Valley Banc shares last traded at $26.00, with a volume of 10,174 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Ohio Valley Banc in a report on Friday. They issued a “hold” rating on the stock.

Ohio Valley Banc Trading Up 1.7 %

The business has a 50 day simple moving average of $24.32 and a 200 day simple moving average of $24.39. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market cap of $124.56 million, a price-to-earnings ratio of 11.40 and a beta of 0.06.

Ohio Valley Banc (NASDAQ:OVBC) last issued its quarterly 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 business also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Friday, January 24th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend was Friday, January 24th. Ohio Valley Banc’s dividend payout ratio is currently 37.93%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Empowered Funds LLC acquired a new position in shares of Ohio Valley Banc during the third quarter valued at $204,000. Dimensional Fund Advisors LP lifted its position in Ohio Valley Banc by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 91,075 shares of the bank’s stock valued at $2,205,000 after purchasing an additional 1,099 shares during the period. Finally, Fourthstone LLC boosted its stake in shares of Ohio Valley Banc by 195.1% in the 4th quarter. Fourthstone LLC now owns 50,132 shares of the bank’s stock valued at $1,214,000 after purchasing an additional 33,145 shares during the last quarter. 22.06% of the stock is currently owned by institutional investors.

About Ohio Valley Banc

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.