Feb. 25 at 9:17 AM
Insider Alert:
$OVBC Director Buys Shares
What happened
Director Michael Seth Isaac just bought in! 💰 The OVBC board member purchased 115 shares worth approximately
$3,000 on February 21, 2025. He also acquired an additional 2 shares through dividend reinvestment, bringing his total holdings to nearly 360 shares.
Big picture
OVBC stock recently crossed above its 200-day moving average, trading at
$26.23 as of last Friday - up from a
$24.46 average. However, the bank reported disappointing Q4 results with EPS of
$0.53 (down from
$0.68 YoY) and a 12.9% drop in annual net income to
$11 million. StockNews recently initiated coverage with a "hold" rating.
Key developments
📈 OVBC declared a
$0.22 quarterly dividend payable on February 10, 2025
💰 The company extended its stock buyback program through August 2025 (already repurchased ~
$3M of
$5M authorized)
📊 Executive Thomas Wiseman retired as an officer on January 1 but continues as non-executive Chairman
🎯 Total assets reached
$1.5 billion, up
$151M from 2023
What could be the reason?
The director's purchase, though modest in size, comes at an interesting moment 🤔. OVBC is trading at attractive valuations (P/E of 11.31 and below book value), which could signal a potential investment opportunity. Additionally, a solid dividend yield of 3.35% and a 32-year track record of consistent payouts suggest confidence in cash flow despite current profitability challenges.
These companies are worth watching in case of significant insider purchases:
⚡
$UNTY Unity Bancorp
⚡
$FGBI First Guaranty Bancshares
⚡
$WMPN William Penn Bancorporation
Insider details at https://prismo.pro/stock/ovbc?utm_source=stocktwits&utm_medium=social&utm_campaign=stock-news&utm_content=OVBC
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