Ohio Valley Banc Corp. Plans Quarterly Dividend of $0.22 (NASDAQ:OVBC)

Ohio Valley Banc Corp. (NASDAQ:OVBC) announced a quarterly dividend on Tuesday, April 16th, Zacks reports. Stockholders of record on Friday, April 26th will be paid a dividend of 0.22 per share by the bank on Friday, May 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Thursday, April 25th.

Ohio Valley Banc has raised its dividend payment by an average of 1.2% per year over the last three years and has increased its dividend annually for the last 1 consecutive years.

Ohio Valley Banc Stock Performance

Shares of Ohio Valley Banc stock opened at $23.99 on Thursday. The company has a market cap of $114.91 million, a P/E ratio of 9.05 and a beta of 0.11. The firm has a 50-day simple moving average of $24.34 and a two-hundred day simple moving average of $23.83. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.95 and a current ratio of 0.95. Ohio Valley Banc has a fifty-two week low of $21.67 and a fifty-two week high of $25.95.

Ohio Valley Banc (NASDAQ:OVBC) last released its earnings results on Thursday, January 25th. The bank reported $0.68 EPS for the quarter. The business had revenue of $14.90 million during the quarter. Ohio Valley Banc had a net margin of 16.96% and a return on equity of 9.08%.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Ohio Valley Banc in a research report on Tuesday. They issued a “hold” rating on the stock.

Hedge Funds Weigh In On Ohio Valley Banc

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp acquired a new stake in shares of Ohio Valley Banc in the first quarter valued at approximately $201,000. Dimensional Fund Advisors LP increased its stake in shares of Ohio Valley Banc by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 77,454 shares of the bank’s stock worth $2,339,000 after acquiring an additional 394 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Ohio Valley Banc by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 155,128 shares of the bank’s stock worth $4,654,000 after acquiring an additional 1,044 shares during the period. State Street Corp boosted its position in shares of Ohio Valley Banc by 12.4% during the 1st quarter. State Street Corp now owns 11,129 shares of the bank’s stock valued at $336,000 after acquiring an additional 1,224 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings 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 valued at $3,689,000 after purchasing an additional 8,218 shares during the period. 22.06% of the stock is owned by hedge funds and other institutional investors.

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.