Ohio Valley Banc Corp. (NASDAQ:OVBC) Short Interest Update

Ohio Valley Banc Corp. (NASDAQ:OVBC) was the recipient of a significant increase in short interest in June. As of June 30th, there was short interest totalling 85,600 shares, an increase of 12.9% from the May 30th total of 75,800 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 4,700 shares, the short-interest ratio is currently 18.2 days.

Separately, ValuEngine downgraded shares of Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 18th.

Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its holdings in Ohio Valley Banc by 544.4% during the first quarter. BNP Paribas Arbitrage SA now owns 870 shares of the bank’s stock worth $31,000 after buying an additional 735 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Ohio Valley Banc in the first quarter valued at about $54,000. Bank of America Corp DE lifted its holdings in shares of Ohio Valley Banc by 71.3% in the fourth quarter. Bank of America Corp DE now owns 3,113 shares of the bank’s stock valued at $110,000 after purchasing an additional 1,296 shares in the last quarter. Rhumbline Advisers purchased a new stake in shares of Ohio Valley Banc in the fourth quarter valued at about $201,000. Finally, First Trust Advisors LP lifted its holdings in shares of Ohio Valley Banc by 18.6% in the fourth quarter. First Trust Advisors LP now owns 6,900 shares of the bank’s stock valued at $244,000 after purchasing an additional 1,084 shares in the last quarter. 18.78% of the stock is currently owned by hedge funds and other institutional investors.

OVBC stock opened at $37.30 on Tuesday. The stock has a market capitalization of $174.64 million, a P/E ratio of 17.73 and a beta of 0.29. Ohio Valley Banc has a 52 week low of $26.45 and a 52 week high of $52.60. The business’s 50-day moving average is $37.38. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.39.

Ohio Valley Banc (NASDAQ:OVBC) last released its quarterly earnings data on Thursday, April 25th. The bank reported $0.25 EPS for the quarter. The firm had revenue of $13.23 million for the quarter. Ohio Valley Banc had a net margin of 17.07% and a return on equity of 8.40%.

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.

Further Reading: Short Selling Stocks, A Beginner’s Guide

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