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 common shares at a price of $23.8604 each, totaling approximately $20.
This sale comes alongside an acquisition of shares under a dividend reinvestment plan, which resulted in an increase in Thomas's holdings by 17.549 shares at the same price per share. The total value of the shares acquired was $418. Following these transactions, Thomas's direct ownership in Ohio Valley Banc Corp stands at 5,351 shares.
It's worth noting that the ending balance of shares owned 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 of the SEC filing, emphasizing 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 monitor insider transactions as they can provide insights into the company's performance and insider perspectives on the stock's value. The sale by Thomas was conducted at a consistent price, showing a straightforward transaction without any indication of equity swaps involved.
Ohio Valley Banc Corp, headquartered in Gallipolis, Ohio, operates as a state commercial bank and has been serving its community with a range of financial services. The company's stock is traded on the NASDAQ under the ticker symbol OVBC.
InvestingPro Insights
Ohio Valley Banc Corp (NASDAQ:OVBC), while recently experiencing insider transactions, also presents a mix of financial metrics that may be of interest to investors. According to InvestingPro, the company has a market capitalization of $111.74 million and a price-to-earnings (P/E) ratio that stands at 9.67, with a slight adjustment to 9.7 for the last twelve months as of Q1 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 underscored by a basic and diluted earnings per share (EPS) of $2.41 for continuing operations during the same period. Furthermore, the company has maintained its dividend payments for an impressive 31 consecutive years, which is reflected in its current dividend yield of 4.42%.
Investors may also note the company's revenue growth, which was 1.02% for the last twelve months as of Q1 2024, although there was a quarterly revenue decline of -5.77% in Q1 2024. This juxtaposition of long-term growth with 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, there are more InvestingPro Tips available. Using the coupon code PRONEWS24, investors can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking valuable information that could aid in making informed investment decisions.
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