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GALLIPOLIS, Ohio - Ohio Valley Banc Corp. (NASDAQ:OVBC), a regional bank with a market capitalization of $157 million, has been added to the broad-market Russell 3000 Index, effective after the US market opened on June 30, as part of the 2025 Russell indexes reconstitution. The stock has shown remarkable strength, gaining over 70% in the past year according to InvestingPro data.
The inclusion in the Russell 3000 Index, which remains in place for one year, also places Ohio Valley Banc Corp. in the small-cap Russell 2000 Index and appropriate growth and value style indexes.
The annual reconstitution of Russell’s U.S. indexes captures the 4,000 largest US stocks as of April 30, ranking them by total market capitalization. FTSE Russell determines membership primarily through objective market-capitalization rankings and style attributes.
Russell indexes serve as benchmarks for investment managers and institutional investors, with approximately $10.6 trillion in assets benchmarked against the Russell US indexes as of June 2024, according to data from FTSE Russell.
"The Russell indexes have continuously adapted to the evolving dynamic US economy," said Fiona Bassett, CEO of FTSE Russell, an LSEG business, in the press release statement.
Ohio Valley Banc Corp., headquartered in Gallipolis, Ohio, owns The Ohio Valley Bank Company with 17 offices across Ohio and West Virginia, as well as Loan Central, Inc., which operates six consumer finance offices in Ohio.
In other recent news, Ohio Valley Banc Corp. reported a substantial 57.8% increase in its consolidated net income for the first quarter ending March 31, 2025, reaching $4.4 million. This boost in earnings per share, from $0.58 to $0.94 compared to the previous year, highlights the company’s financial growth. The bank attributed this performance to strategic decisions that improved earning assets and net interest margins while controlling overhead expenses. Furthermore, Ohio Valley Banc Corp. announced a quarterly cash dividend increase to $0.23 per share, reflecting a 4.55% rise from the previous quarter. This decision underscores the company’s commitment to providing value to shareholders amid economic uncertainties. Additionally, the recent annual shareholder meeting saw the election of directors and the ratification of Plante & Moran PLLC as the independent registered public accounting firm for 2025. These developments align with Ohio Valley Banc Corp.’s strategic focus on enhancing shareholder value and financial stability.
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