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

StockNews.com began coverage on shares of Ohio Valley Banc (NASDAQ:OVBC) in a research report issued to clients and investors on Sunday. The brokerage set a “hold” rating on the bank’s stock.

Ohio Valley Banc Stock Up 2.2 %

Shares of NASDAQ:OVBC opened at $23.00 on Friday. Ohio Valley Banc has a 52-week low of $19.35 and a 52-week high of $25.95. The stock has a market cap of $110.17 million, a P/E ratio of 9.54 and a beta of 0.05. The business’s 50 day moving average is $21.99 and its 200 day moving average is $23.23. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.36.

Ohio Valley Banc (NASDAQ:OVBC) last announced its quarterly earnings data on Thursday, April 25th. The bank reported $0.58 earnings per share (EPS) for the quarter. Ohio Valley Banc had a return on equity of 8.16% and a net margin of 14.70%. The company had revenue of $14.89 million for the quarter.

Institutional Trading of Ohio Valley Banc

A hedge fund recently raised its stake in Ohio Valley Banc stock. Abundance Wealth Counselors boosted its stake in shares of Ohio Valley Banc Corp. (NASDAQ:OVBC) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,909 shares of the bank’s stock after buying an additional 800 shares during the period. Ohio Valley Banc accounts for about 0.6% of Abundance Wealth Counselors’ investment portfolio, making the stock its 29th biggest holding. Abundance Wealth Counselors owned approximately 1.99% of Ohio Valley Banc worth $2,183,000 as of its most recent filing with the Securities & Exchange Commission. 22.06% of the stock is owned by institutional investors and hedge funds.

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.