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In a remarkable display of financial resilience, Ohio Valley Banc Corp (OVBC) stock has soared to a 52-week high, reaching a price level of $32.81. According to InvestingPro data, the stock’s technical indicators suggest overbought conditions, with a P/E ratio of 13.8 and market capitalization of $150 million. This peak reflects a significant uptrend for the regional bank, which has witnessed a substantial year-to-date return of 32.53%. Investors have shown increased confidence in OVBC’s performance, propelling the stock to new heights over the past year, with a notable 33.8% gain in the last six months. The company’s 32-year track record of consistent dividend payments, currently yielding 2.77%, further demonstrates its sustained operational success. InvestingPro subscribers can access 8 additional key insights about OVBC’s market position and growth potential.
In other recent news, Ohio Valley Banc Corp. reported a decrease in net income for the fourth quarter and the full year ending December 31, 2024. The company’s quarterly net income dropped to $2,515,000 from $3,223,000 in the previous year, while annual net income fell to $10,999,000, marking a 12.9% decline. Earnings per share for the fourth quarter were $.53, down from $.68, and the full-year EPS was $2.32, compared to $2.65 in 2023. The company attributed the decline in net income to one-time expenses, including a voluntary early retirement program and account bonuses for new depositors. Additionally, Ohio Valley Banc Corp. announced a quarterly cash dividend of $0.22 per common share, payable on February 10, 2025, to shareholders of record as of January 24, 2025. In executive news, Thomas E. Wiseman will retire from his executive officer position effective January 1, 2025, but will continue as the non-executive Chairman of the Board. He will remain a non-voting member of the Audit and Enterprise Risk Committees and a voting member of the Executive Committee. This transition marks a notable change in the company’s leadership structure.
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