Ohio Valley Banc Corp. (NASDAQ: OVBC) has benefited from exceptional positive changes in investment behavior: its shorter term price trend turned up, the stock’s recent price rise disrupted its longer term downtrend, and the stock rose on very heavy volume.
Recent marginal positive changes in fundamentals have benefitted Ohio Valley Banc Corp. (NASDAQ: OVBC): significant quarterly sales acceleration occurred.
In light of these very positive signals we are reviewing our current Overall Rating of C. We would view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
OVBC’s future returns on capital are forecasted to be in line with the cost of capital. Accordingly, the company is expected to continue to be Value Creation neutral.
Ohio Valley Banc has a current Value Trend Rating of C (High Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. Ohio Valley Banc has a good Appreciation Score of 70 but a neutral Power Rating of 43, producing the High Neutral Value Trend Rating.
Recent Price Action
On 5/29/24, Ohio Valley Banc Corp. (NASDAQ: OVBC) stock increased 1.6%, closing at $24.50. Moreover, trading volume in this advance was exceptionally high at 346% of normal. Relative to the market the stock has been weak over the last nine months but has risen 3.8% during the last week.
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