StockNews.com equity analysts began following Ohio Valley Bancshares after publishing a report on the company that was made public on Friday (NASDAQ: OVBC). The financial institution’s stock received a rating of “Hold” from the brokerage firm.
Research conducted by OVBC indicates that several institutional investors, including hedge funds and other types of investors, have recently adjusted their investment strategies. The Bank of New York Mellon Corporation made a new investment in Ohio Valley Banc, totaling $201,000 during the first three months of 2018. This investment was in the form of a stake. Ergoteles LLC invested 263,000 dollars in acquiring a stake in Ohio Valley Banc during the third quarter of the fiscal year. The State Street Corporation increased the percentage of Ohio Valley Banc shares it owned by 12.4% during the first three months of 2018. The purchase of 1,224 additional shares during the most recent quarter has resulted in State Street Corp. having a total of 11,129 shares of the bank’s stock, which are now valued at $336,000 thanks to the fact that the shares were acquired. BlackRock Inc. increased the percentage of Ohio Valley Banc in which it was invested by 166.0% during the third quarter. BlackRock Inc. now owns 47,165 shares of the bank’s stock, which have a combined value of $1,313,000 after purchasing an additional 29,433 shares during the most recent quarter. BlackRock Inc.’s stock holdings increased by this during the most recent quarter. And as if that weren’t enough, during the third quarter, Dimensional Fund Advisors LP increased the amount of Ohio Valley Banc stock owned by 1.5%. After the acquisition of 1,159 additional shares during the most recent quarter, Dimensional Fund Advisors LP now has a total of 80,380 shares of the bank’s stock, valued at $2,236,000. These shares were acquired as a result of the most recent acquisition. Institutional and hedge fund investors own 13.45 percent of the company’s stock.
On Friday, OVBC shares were first offered for sale for $26.55 each. This stock’s moving average for the last 50 days is currently sitting at $26.89, and its moving average for the last 200 days is currently at $28.48. The company’s market capitalization is currently sitting at $126.70 million, its price-to-earnings ratio stands at 10.45, and its beta stands at 0.17. The lowest point for Ohio Valley Banc over the past year is $22.68, and the highest point for the company over the past year is $32.49. The debt-to-equity ratio is calculated to be 0.21, the quick ratio is calculated to be 0.88, and the current ratio is also calculated to be 0.88.
The Ohio Valley Bank Company is a subsidiary of the Ohio Valley Banc Corp. It provides a wide range of banking products and services to commercial and retail customers. Retail banking and personal consumer financing are the two distinct divisions the company can be broken down into. There are many acceptable financial instruments, including but not limited to deposits on demand, NOW accounts, certificates of deposit, individual retirement accounts, savings, time, and money market accounts.