Insider Buying: Oak Valley Bancorp (CA) (NASDAQ:OVLY) Director Buys 1,000 Shares of Stock

Key Points

• Director Daniel J. Leonard of Oak Valley Bancorp purchased 1,000 shares at an average cost of $26.20, increasing his ownership stake by 1.63%.
• The company declared a quarterly dividend of $0.30 per share, significantly up from the previous $0.07, resulting in an annualized yield of 4.5%.
• Oak Valley Bancorp's stock has recently been rated as a "hold" by analysts, indicating a cautious outlook on the company's market performance.

Oak Valley Bancorp (CA) (NASDAQ:OVLY - Get Free Report) Director Daniel J. Leonard purchased 1,000 shares of the firm's stock in a transaction on Friday, August 1st. The shares were purchased at an average cost of $26.20 per share, for a total transaction of $26,200.00. Following the completion of the purchase, the director directly owned 62,223 shares in the company, valued at $1,630,242.60. The trade was a 1.63% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Oak Valley Bancorp Stock Down 1.0%

Shares of OVLY stock traded down $0.26 during trading hours on Friday, hitting $26.39. 17,533 shares of the company were exchanged, compared to its average volume of 13,789. The firm has a market cap of $221.15 million, a PE ratio of 9.01 and a beta of 0.45. Oak Valley Bancorp has a 1 year low of $22.70 and a 1 year high of $32.24. The firm has a fifty day moving average of $26.81 and a 200 day moving average of $26.01.

Oak Valley Bancorp (NASDAQ:OVLY - Get Free Report) last issued 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 13.15% and a net margin of 27.04%. The business had revenue of $19.86 million during the quarter.

Oak Valley Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, July 28th will be given a dividend of $0.30 per share. This is a boost from Oak Valley Bancorp's previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Monday, July 28th. This represents a $1.20 annualized dividend and a yield of 4.5%. Oak Valley Bancorp's dividend payout ratio is presently 20.48%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Oak Valley Bancorp from a "sell" rating to a "hold" rating in a research note on Tuesday, April 8th.

Hedge Funds Weigh In On Oak Valley Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. M3F Inc. boosted its holdings in Oak Valley Bancorp by 0.8% in the first quarter. M3F Inc. now owns 122,436 shares of the financial services provider's stock valued at $3,056,000 after purchasing an additional 1,000 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in Oak Valley Bancorp by 33.3% in the first quarter. Hsbc Holdings PLC now owns 12,434 shares of the financial services provider's stock valued at $314,000 after purchasing an additional 3,104 shares during the last quarter. Nuveen LLC purchased a new position in Oak Valley Bancorp in the first quarter valued at about $217,000. Deutsche Bank AG boosted its holdings in Oak Valley Bancorp by 80.1% in the first quarter. Deutsche Bank AG now owns 3,657 shares of the financial services provider's stock valued at $91,000 after purchasing an additional 1,627 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in Oak Valley Bancorp by 392.3% in the first quarter. Cetera Investment Advisers now owns 45,719 shares of the financial services provider's stock valued at $1,141,000 after purchasing an additional 36,432 shares during the last quarter. 30.86% of the stock is owned by institutional investors and hedge funds.

About Oak Valley Bancorp

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.

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