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Ohio Valley Banc Corp CEO sells stock worth $20 by Investing.com

GALLIPOLIS, OH – In a recent transaction on June 3, David W. Thomas, a director of Ohio Valley Banc Corp (NASDAQ:OVBC), sold shares in the company. The transaction involved the sale of 0.8401 shares of common stock at a price of $23.8604 each, for a total consideration of approximately $20.

This sale is accompanied by an acquisition of shares under a dividend reinvestment plan, which resulted in an increase in Thomas’ ownership of 17,549 shares at the same price per share. The total value of the shares acquired was $418. After these transactions, Thomas’ direct ownership in Ohio Valley Banc Corp amounts to 5,351 shares.

It is worth noting that the ending balance of shares held by Thomas differs from previously reported figures due to the newly acquired shares under the dividend reinvestment plan. This detail was highlighted in a footnote to the SEC filing, which highlighted the impact of such plans on an insider’s share count.

The transactions were disclosed in a Form 4 filing with the Securities and Exchange Commission signed by Charity D. Yates under power of attorney on behalf of Thomas.

Investors often follow insider transactions because they can provide insight into the company’s performance and insider perspectives on the stock’s value. The sale by Thomas was made at a consistent price, showing that it was a simple transaction, without any indication that equity swaps were involved.

Ohio Valley Banc Corp, headquartered in Gallipolis, Ohio, operates as a state-owned commercial bank and serves its community with a range of financial services. The company’s shares trade on the NASDAQ under the ticker symbol OVBC.

InvestingPro Insights

While Ohio Valley Banc Corp (NASDAQ:OVBC) recently faced insider trading, it also presents a mix of financials that could be interesting to investors. According to InvestingPro, the company has a market cap of $111.74 million and a price-to-earnings (P/E) ratio of 9.67, with a slight adjustment to 9.7 for the trailing twelve months from the first quarter of 2024.

An InvestingPro Tip points out that despite weak gross profit margins, Ohio Valley Banc Corp has been profitable over the last twelve months. This profitability is underlined by basic and diluted earnings per share (EPS) of $2.41 for continuing operations in the same period. Furthermore, the company has maintained its dividend payments for 31 years in a row, which is reflected in the current dividend yield of 4.42%.

Investors can also note the company’s revenue growth, which stood at 1.02% over the trailing twelve months in Q1 2024, although there was a quarter-on-quarter revenue decline of -5.77% in Q1 2024. This combination of long-term growth and short-term decline could be a point of analysis for those looking at the company’s performance trajectory.

For those considering a deeper dive into Ohio Valley Banc Corp’s financials and seeking additional insights, more InvestingPro Tips are available. Using the coupon code PRONEWS24Investors can receive an additional 10% discount on an annual or biennial Pro and Pro+ subscription, unlocking valuable information that can help make informed investment decisions.

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