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Michael Seth Isaac, a director at Ohio Valley Banc Corp (NASDAQ:OVBC), recently acquired additional shares of the company. According to a filing with the Securities and Exchange Commission, Isaac purchased 78.6011 common shares on May 19, 2025, at a price of $38.1674 per share, amounting to a total of approximately $2,999. The purchase comes as the $170 million market cap bank has seen its stock surge nearly 50% year-to-date, despite an 8% decline in the past week. This transaction was noted as a voluntary cash purchase for a dividend reinvestment plan. After these transactions, Isaac’s total holdings increased to 440.3412 shares. The company maintains a 2.58% dividend yield and has consistently paid dividends for 32 consecutive years. InvestingPro analysis reveals 8 additional key insights about OVBC’s financial health and market position.
In other recent news, Ohio Valley Banc Corp. reported a significant 57.8% increase in consolidated net income for the first quarter ending March 31, 2025, reaching $4.4 million. This rise in net income was accompanied by an increase in earnings per share to $0.94, up from $0.58 in the same period last year. Additionally, Ohio Valley Banc Corp. announced a quarterly cash dividend increase to $0.23 per share, marking a 4.55% rise from the previous quarter’s dividend. The dividend is payable on May 10, 2025, to shareholders of record as of April 25, 2025.
Furthermore, the company held its annual shareholder meeting, where directors were elected and the selection of Plante & Moran PLLC as the independent accounting firm was ratified. The company also highlighted improvements in net interest income and average earning assets, contributing to its financial performance. Meanwhile, noninterest income saw a nominal decrease, and noninterest expenses slightly increased. The announcement of the dividend increase and the positive earnings results underscore Ohio Valley Banc Corp.’s commitment to providing value to its shareholders amid current economic challenges.
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