Ohio Valley Banc (NASDAQ:OVBC) Now Covered by Analysts at StockNews.com

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

Ohio Valley Banc Trading Up 1.4 %

Shares of Ohio Valley Banc stock opened at $28.55 on Monday. Ohio Valley Banc has a 1 year low of $22.68 and a 1 year high of $32.49. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a fifty day moving average price of $27.42 and a 200 day moving average price of $29.10. The stock has a market cap of $136.18 million, a PE ratio of 11.24 and a beta of 0.19.

Ohio Valley Banc Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Friday, October 28th were issued a $0.21 dividend. This is a boost from Ohio Valley Banc’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, October 27th. This represents a $0.84 dividend on an annualized basis and a yield of 2.94%. Ohio Valley Banc’s payout ratio is presently 33.07%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OVBC. Bank of New York Mellon Corp purchased a new position in Ohio Valley Banc in the first quarter valued at $201,000. Dimensional Fund Advisors LP increased its stake in shares of Ohio Valley Banc by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 77,454 shares of the bank’s stock worth $2,339,000 after purchasing an additional 394 shares in the last quarter. Vanguard Group Inc. increased its stake 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 purchasing an additional 1,044 shares in the last quarter. State Street Corp increased its stake in shares of Ohio Valley Banc by 12.4% during the first quarter. State Street Corp now owns 11,129 shares of the bank’s stock worth $336,000 after purchasing an additional 1,224 shares in the last quarter. Finally, 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. Hedge funds and other institutional investors own 14.52% of the company’s stock.

About Ohio Valley Banc

(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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