Cetera Investment Advisers Boosts Position in Oak Valley Bancorp (CA) (NASDAQ:OVLY)

Key Points

• Cetera Investment Advisers significantly increased its stake in Oak Valley Bancorp by 392.3% during the first quarter, owning approximately 45,719 shares worth $1,141,000.
• Oak Valley Bancorp recently declared a quarterly dividend of $0.30, increasing from the previous dividend of $0.07, resulting in an annualized dividend of $1.20 with a yield of 4.3%.
• Insiders have been actively buying shares, with total purchases amounting to 3,500 shares valued at $89,360 in the last three months, indicating confidence in the company's future.

Cetera Investment Advisers increased its position in Oak Valley Bancorp (CA) (NASDAQ:OVLY - Free Report) by 392.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,719 shares of the financial services provider's stock after purchasing an additional 36,432 shares during the period. Cetera Investment Advisers owned approximately 0.55% of Oak Valley Bancorp worth $1,141,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Deutsche Bank AG purchased a new stake in shares of Oak Valley Bancorp during the 4th quarter valued at $59,000. Bank of America Corp DE increased its position in shares of Oak Valley Bancorp by 29.1% during the 4th quarter. Bank of America Corp DE now owns 10,394 shares of the financial services provider's stock valued at $304,000 after purchasing an additional 2,343 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Oak Valley Bancorp by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 108,971 shares of the financial services provider's stock valued at $3,188,000 after purchasing an additional 1,499 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Oak Valley Bancorp by 118.8% during the 4th quarter. JPMorgan Chase & Co. now owns 23,537 shares of the financial services provider's stock valued at $688,000 after purchasing an additional 12,782 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Oak Valley Bancorp by 9.4% during the 4th quarter. Hsbc Holdings PLC now owns 9,330 shares of the financial services provider's stock valued at $281,000 after purchasing an additional 803 shares during the last quarter. 30.86% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director H Randolph Holder, Jr. acquired 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was bought at an average price of $24.83 per share, with a total value of $49,660.00. Following the acquisition, the director owned 152,176 shares in the company, valued at $3,778,530.08. The trade was a 1.33% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Daniel J. Leonard acquired 1,000 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average cost of $26.20 per share, with a total value of $26,200.00. Following the acquisition, the director owned 62,223 shares in the company, valued at $1,630,242.60. The trade was a 1.63% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 4,553 shares of company stock valued at $118,045 and sold 1,125 shares valued at $31,005. Company insiders own 18.08% of the company's stock.

Oak Valley Bancorp Price Performance

Shares of Oak Valley Bancorp stock traded down $0.31 during trading hours on Friday, hitting $27.65. 7,937 shares of the company's stock traded hands, compared to its average volume of 11,398. Oak Valley Bancorp has a 12-month low of $22.70 and a 12-month high of $32.24. The stock has a market capitalization of $231.71 million, a price-to-earnings ratio of 9.44 and a beta of 0.45. The company has a fifty day simple moving average of $27.19 and a 200-day simple moving average of $26.07.

Oak Valley Bancorp (NASDAQ:OVLY - Get Free Report) last announced its earnings results on Friday, July 18th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter. Oak Valley Bancorp had a return on equity of 13.12% and a net margin of 26.38%. The firm had revenue of $19.86 million during the quarter.

Oak Valley Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Monday, July 28th were issued a $0.30 dividend. This is an increase from Oak Valley Bancorp's previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Monday, July 28th. This represents a $1.20 annualized dividend and a yield of 4.3%. Oak Valley Bancorp's payout ratio is 20.48%.

Oak Valley Bancorp Company Profile

Oak Valley Bancorp operates as the bank holding company for Oak Valley Community Bank that provides a range of commercial banking services to individuals and small to medium-sized businesses in the Central Valley and the Eastern Sierras. The company's deposits products include checking and savings, money market, health savings, and individual retirement accounts, as well as certificates of deposit.