49 Wealth Management LLC Takes Position in Ohio Valley Banc Corp. $OVBC

49 Wealth Management LLC bought a new stake in shares of Ohio Valley Banc Corp. (NASDAQ:OVBC - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 47,778 shares of the bank's stock, valued at approximately $1,540,000. 49 Wealth Management LLC owned approximately 1.01% of Ohio Valley Banc as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Empowered Funds LLC increased its stake in shares of Ohio Valley Banc by 6.4% during the first quarter. Empowered Funds LLC now owns 9,302 shares of the bank's stock valued at $242,000 after buying an additional 558 shares during the period. AA Financial Advisors LLC bought a new position in Ohio Valley Banc during the 2nd quarter worth about $219,000. Jane Street Group LLC bought a new position in Ohio Valley Banc during the 1st quarter worth about $232,000. Ritholtz Wealth Management purchased a new position in Ohio Valley Banc during the 2nd quarter valued at about $300,000. Finally, Prosperity Consulting Group LLC bought a new stake in shares of Ohio Valley Banc in the 2nd quarter valued at about $1,301,000. Institutional investors own 22.06% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Ohio Valley Banc in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy".

Get Our Latest Report on Ohio Valley Banc

Ohio Valley Banc Stock Down 0.7%

Shares of OVBC stock opened at $35.25 on Monday. The stock's fifty day moving average price is $36.43 and its 200 day moving average price is $34.97. Ohio Valley Banc Corp. has a 1-year low of $21.86 and a 1-year high of $40.99. The company has a market cap of $166.06 million, a price-to-earnings ratio of 11.75 and a beta of 0.06. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.90 and a quick ratio of 0.90.

Ohio Valley Banc (NASDAQ:OVBC - Get Free Report) last issued its quarterly earnings results on Monday, October 27th. The bank reported $0.64 earnings per share (EPS) for the quarter. The business had revenue of $16.34 million for the quarter. Ohio Valley Banc had a net margin of 14.97% and a return on equity of 9.10%.

Ohio Valley Banc Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 31st will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $0.92 dividend on an annualized basis and a yield of 2.6%. Ohio Valley Banc's payout ratio is presently 30.67%.

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.

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