The Manufacturers Life Insurance Company Makes New $7.67 Million Investment in Ohio Valley Banc Corp. $OVBC

The Manufacturers Life Insurance Company purchased a new position in Ohio Valley Banc Corp. (NASDAQ:OVBC) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 176,497 shares of the bank’s stock, valued at approximately $7,665,000. The Manufacturers Life Insurance Company owned about 3.75% of Ohio Valley Banc as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Empowered Funds LLC boosted 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 acquiring an additional 558 shares during the last quarter. Jane Street Group LLC acquired a new position in Ohio Valley Banc in the 1st quarter valued at about $232,000. Geode Capital Management LLC lifted its holdings in Ohio Valley Banc by 119.1% in the 2nd quarter. Geode Capital Management LLC now owns 87,940 shares of the bank’s stock valued at $2,835,000 after purchasing an additional 47,796 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in Ohio Valley Banc in the 2nd quarter valued at about $58,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Ohio Valley Banc during the 2nd quarter worth about $110,000. 22.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Ohio Valley Banc from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, August 14th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Ohio Valley Banc currently has a consensus rating of “Buy”.

Ohio Valley Banc Stock Down 0.0%

Shares of NASDAQ:OVBC opened at $45.58 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.29. The firm has a market cap of $214.68 million, a price-to-earnings ratio of 15.14 and a beta of 0.04. The stock’s 50-day moving average price is $43.79 and its two-hundred day moving average price is $44.56. Ohio Valley Banc Corp. has a 12-month low of $32.97 and a 12-month high of $54.96.

Ohio Valley Banc (NASDAQ:OVBC) last announced its quarterly earnings data on Monday, July 27th. The bank reported $0.62 earnings per share for the quarter. Ohio Valley Banc had a net margin of 14.31% and a return on equity of 8.37%. The business had revenue of $18.58 million for the quarter.

Ohio Valley Banc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Friday, July 24th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. Ohio Valley Banc’s dividend payout ratio (DPR) is currently 33.22%.

About Ohio Valley Banc

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.