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

Equities researchers at StockNews.com initiated coverage on shares of Ohio Valley Banc (NASDAQ:OVBC) in a report released on Sunday. The firm set a “hold” rating on the bank’s stock.

Ohio Valley Banc Price Performance

Shares of OVBC stock opened at $23.50 on Friday. The stock has a 50 day moving average price of $25.50 and a 200 day moving average price of $23.90. Ohio Valley Banc has a 52-week low of $19.35 and a 52-week high of $28.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $110.71 million, a P/E ratio of 9.51 and a beta of 0.08.

Ohio Valley Banc (NASDAQ:OVBC) last released its earnings results on Monday, October 28th. The bank reported $0.58 earnings per share for the quarter. The business had revenue of $22.26 million during the quarter. Ohio Valley Banc had a return on equity of 7.97% and a net margin of 13.66%. During the same quarter last year, the business posted $0.47 earnings per share.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Ohio Valley Banc stock. Empowered Funds LLC purchased a new stake in Ohio Valley Banc Corp. (NASDAQ:OVBC) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 8,418 shares of the bank’s stock, valued at approximately $204,000. Empowered Funds LLC owned approximately 0.18% of Ohio Valley Banc as of its most recent filing with the SEC. Institutional investors and hedge funds own 22.06% of the company’s stock.

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.