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

StockNews.com began coverage on shares of Ohio Valley Banc (NASDAQ:OVBCGet Rating) in a report published on Saturday morning. The brokerage issued a hold rating on the bank’s stock.

Shares of NASDAQ:OVBC opened at $31.36 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.89 and a quick ratio of 0.91. The business’s 50 day moving average price is $30.62 and its 200-day moving average price is $29.92. The firm has a market capitalization of $149.64 million, a PE ratio of 12.15 and a beta of 0.23. Ohio Valley Banc has a 1 year low of $22.72 and a 1 year high of $32.29.

The company also recently declared a dividend, which will be paid on Friday, June 10th. Stockholders of record on Tuesday, May 31st will be paid a $0.15 dividend. The ex-dividend date is Friday, May 27th. Ohio Valley Banc’s dividend payout ratio is presently 32.56%.

Several large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its stake in shares of Ohio Valley Banc by 7.2% in 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 during the last quarter. State Street Corp boosted its stake in shares of Ohio Valley Banc by 12.4% in the first quarter. State Street Corp now owns 11,129 shares of the bank’s stock worth $336,000 after acquiring an additional 1,224 shares during the last quarter. Vanguard Group Inc. lifted its position in 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 buying an additional 1,044 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in 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 buying an additional 394 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Ohio Valley Banc during the first quarter worth approximately $201,000. 13.61% of the stock is currently owned by hedge funds and other institutional investors.

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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