Short Interest in Ohio Valley Banc Corp. (NASDAQ:OVBC) Drops By 29.7%

Ohio Valley Banc Corp. (NASDAQ:OVBC) was the recipient of a large drop in short interest in the month of December. As of December 31st, there was short interest totaling 35,761 shares, a drop of 29.7% from the December 15th total of 50,871 shares. Based on an average trading volume of 11,673 shares, the short-interest ratio is currently 3.1 days. Approximately 0.8% of the shares of the stock are short sold. Approximately 0.8% of the shares of the stock are short sold. Based on an average trading volume of 11,673 shares, the short-interest ratio is currently 3.1 days.

Institutional Investors Weigh In On Ohio Valley Banc

Large investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of Ohio Valley Banc by 119.1% in the second quarter. Geode Capital Management LLC now owns 87,940 shares of the bank’s stock valued at $2,835,000 after acquiring an additional 47,796 shares in the last quarter. 49 Wealth Management LLC acquired a new stake in Ohio Valley Banc in the second quarter valued at about $1,540,000. Prosperity Consulting Group LLC purchased a new stake in Ohio Valley Banc in the 2nd quarter valued at approximately $1,301,000. AA Financial Advisors LLC increased its position in Ohio Valley Banc by 398.6% during the 3rd quarter. AA Financial Advisors LLC now owns 33,828 shares of the bank’s stock worth $1,251,000 after purchasing an additional 27,043 shares during the period. Finally, TrueMark Investments LLC purchased a new position in shares of Ohio Valley Banc during the 3rd quarter worth approximately $636,000. 22.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Ohio Valley Banc in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Ohio Valley Banc Stock Down 0.5%

Shares of OVBC traded down $0.20 during midday trading on Monday, hitting $40.06. The company had a trading volume of 8,147 shares, compared to its average volume of 8,871. Ohio Valley Banc has a 1 year low of $22.10 and a 1 year high of $42.00. The firm has a market capitalization of $188.68 million and a P/E ratio of 13.35. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.91 and a current ratio of 0.91. The company’s 50-day simple moving average is $39.48 and its 200-day simple moving average is $37.00.

Ohio Valley Banc (NASDAQ:OVBC) last posted its earnings results on Friday, November 14th. The bank reported $0.64 EPS for the quarter. Ohio Valley Banc had a return on equity of 8.97% and a net margin of 14.97%.The firm had revenue of $16.35 million for the quarter.

Ohio Valley Banc Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Friday, January 23rd will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, January 23rd. Ohio Valley Banc’s payout ratio is presently 30.67%.

Ohio Valley Banc Company Profile

Ohio Valley Banc Corp is a bank holding company headquartered in Wheeling, West Virginia, operating through its principal subsidiary, The Ohio Valley Bank. As a locally focused financial institution, the company delivers a range of banking and financial solutions designed to meet the needs of individual, small business and commercial clients across its service area.

Through its subsidiary, Ohio Valley Banc offers traditional banking products including checking and savings accounts, certificates of deposit and consumer and residential mortgage loans.