Oak Valley Bancorp (NASDAQ:OVLY) Posts Earnings Results

Key Points

• Oak Valley Bancorp reported quarterly earnings of $0.77 per share, with a 24.05% net margin and 11.31% return on equity.
• Shares fell $0.36 to $33.24, giving the company a market capitalization of approximately $279.6 million and a P/E ratio of 11.79.
• Insiders were net buyers over the past 90 days, purchasing $126,084 worth of shares, while the stock maintained an overall “Buy” rating despite Weiss Ratings lowering its assessment slightly.

Oak Valley Bancorp (NASDAQ:OVLY - Get Free Report) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.77 earnings per share for the quarter, Zacks reports. Oak Valley Bancorp had a net margin of 24.05% and a return on equity of 11.31%.

Oak Valley Bancorp Price Performance

Shares of Oak Valley Bancorp stock traded down $0.36 during trading on Wednesday, hitting $33.24. The stock had a trading volume of 11,780 shares, compared to its average volume of 29,993. The firm has a market cap of $279.55 million, a P/E ratio of 11.79 and a beta of 0.22. The business has a fifty day moving average of $34.15 and a two-hundred day moving average of $33.82. Oak Valley Bancorp has a fifty-two week low of $26.47 and a fifty-two week high of $35.97.

Insider Transactions at Oak Valley Bancorp

In other news, Director Gary Strong bought 2,000 shares of the stock in a transaction that occurred on Monday, July 27th. The shares were purchased at an average cost of $32.50 per share, with a total value of $65,000.00. Following the completion of the acquisition, the director directly owned 14,842 shares in the company, valued at approximately $482,365. The trade was a 15.57% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Allison Lafferty purchased 1,307 shares of the company's stock in a transaction on Wednesday, August 26th. The stock was acquired at an average price of $33.93 per share, for a total transaction of $44,346.51. Following the completion of the transaction, the director owned 10,000 shares of the company's stock, valued at $339,300. This represents a 15.04% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have purchased 3,797 shares of company stock worth $126,084 and have sold 1,125 shares worth $37,808. 13.94% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Oak Valley Bancorp from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, August 14th. One research analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, the company has an average rating of "Buy".

Oak Valley Bancorp Company Profile

Oak Valley Bancorp is a bank holding company headquartered in Oakdale, California. Through its subsidiary, Oak Valley Community Bank, the company provides banking services to individuals, families, farmers, and businesses in California's Central Valley.

Oak Valley Community Bank offers deposit products, commercial and agricultural loans, commercial real estate financing, residential real estate loans, consumer lending, and small-business financing. Its services also include treasury management, online and mobile banking, cash management, and other business banking solutions.

Founded in 1991, Oak Valley Community Bank serves communities primarily in Stanislaus, San Joaquin, and Merced counties through branch locations and digital banking channels.

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