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Anna P. Barnitz, a director at Ohio Valley Banc Corp (NASDAQ:OVBC), recently increased her stake in the company. According to a recent SEC filing, Barnitz purchased 57.5241 common shares at a price of $26.0759 each, totaling approximately $1,499. The purchase comes as OVBC, currently valued at $125 million, trades near its InvestingPro Fair Value with a "GOOD" overall financial health rating.
In addition to the purchase, Barnitz also acquired shares under a dividend reinvestment plan, as indicated by multiple transactions on February 21, 2025. These transactions, which involved acquiring a total of 0.9456 shares at the same price per share, were conducted as a custodian for her children. Notably, OVBC has maintained dividend payments for 32 consecutive years, currently offering a 3.35% yield.
The transactions reflect Barnitz’s ongoing involvement with Ohio Valley Banc Corp, a state commercial bank based in Gallipolis, Ohio. The acquired shares bring Barnitz’s total holdings to 8,539.188 shares following these transactions. Trading at 0.83 times book value, the stock has shown strong recent performance. InvestingPro subscribers can access additional insights and metrics about OVBC’s financial health and growth potential.
In other recent news, Ohio Valley Banc Corp has reported a decrease in net income for the fourth quarter and the full year ending December 31, 2024. The company’s quarterly net income fell to $2,515,000 from $3,223,000 the previous year, while the annual net income dropped by 12.9% to $10,999,000. Earnings per share for the fourth quarter were $.53, down from $.68, and the full-year EPS decreased from $2.65 to $2.32. The company attributes this decline to significant one-time expenses, including a $3.3 million voluntary early retirement program. 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 another development, Thomas E. Wiseman, an executive officer, will retire effective January 1, 2025, but will remain as the non-executive Chairman of the Board. He will continue to serve on various committees and will receive an annual compensation of $259,284 in cash for his role. These updates reflect the company’s ongoing financial and leadership strategies.
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