TIAA CREF Investment Management LLC acquired a new position in Ohio Valley Banc Corp. (NASDAQ:OVBC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 10,960 shares of the bank’s stock, valued at approximately $395,000. TIAA CREF Investment Management LLC owned about 0.23% of Ohio Valley Banc at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. bought a new position in shares of Ohio Valley Banc during the 2nd quarter valued at approximately $267,000. Teachers Advisors LLC purchased a new position in Ohio Valley Banc during the 2nd quarter valued at $268,000. Bank of New York Mellon Corp purchased a new position in Ohio Valley Banc during the 2nd quarter valued at $436,000. Finally, Wesbanco Bank Inc. boosted its holdings in Ohio Valley Banc by 0.7% during the 2nd quarter. Wesbanco Bank Inc. now owns 97,055 shares of the bank’s stock valued at $3,499,000 after acquiring an additional 645 shares during the period. 13.76% of the stock is currently owned by institutional investors and hedge funds.
Shares of Ohio Valley Banc Corp. (OVBC) traded down $0.65 during mid-day trading on Wednesday, hitting $38.70. The company’s stock had a trading volume of 1,832 shares, compared to its average volume of 6,059. Ohio Valley Banc Corp. has a twelve month low of $25.75 and a twelve month high of $40.25. The stock has a market cap of $183.94, a PE ratio of 21.30 and a beta of 0.16. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.41.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 10th. Investors of record on Friday, October 27th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date was Thursday, October 26th. Ohio Valley Banc’s dividend payout ratio (DPR) is currently 45.65%.
Separately, ValuEngine cut Ohio Valley Banc from a “buy” rating to a “hold” rating in a report on Friday, December 1st.
COPYRIGHT VIOLATION NOTICE: “TIAA CREF Investment Management LLC Takes $395,000 Position in Ohio Valley Banc Corp. (OVBC)” was first published by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this piece on another domain, it was stolen and reposted in violation of United States & international copyright and trademark legislation. The original version of this piece can be accessed at https://stocknewstimes.com/2017/12/06/tiaa-cref-investment-management-llc-invests-395000-in-ohio-valley-banc-corp-ovbc-stock.html.
About Ohio Valley Banc
Ohio Valley Banc Corp. is a financial holding company. The Company has a banking subsidiary, The Ohio Valley Bank Company (the Bank). The Company’s financial service operations are aggregated in two segments: banking and consumer finance. The Company also owns nonbank subsidiaries, which include Loan Central, Inc, which engages in lending; Ohio Valley Financial Services Agency, LLC, which is used to facilitate the receipt of commissions on insurances sold by the Bank and Loan Central, and OVBC Captive, Inc, a limited purpose property and casualty insurance company.
Receive News & Ratings for Ohio Valley Banc Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ohio Valley Banc Corp. and related companies with MarketBeat.com's FREE daily email newsletter.