Oak Valley Bancorp (CA) (NASDAQ:OVLY) Director Buys $26,200.00 in 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 stock was acquired at an average cost of $26.20 per share, with a total value of $26,200.00. Following the transaction, the director directly owned 62,223 shares in the company, valued at $1,630,242.60. This trade represents a 1.63% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Oak Valley Bancorp Price Performance

Shares of Oak Valley Bancorp stock traded down $0.34 during trading on Tuesday, hitting $26.21. 3,264 shares of the stock were exchanged, compared to its average volume of 13,677. The stock has a market cap of $219.69 million, a price-to-earnings ratio of 8.95 and a beta of 0.45. The firm's 50-day moving average price is $26.88 and its 200 day moving average price is $26.00. Oak Valley Bancorp has a 12-month low of $22.70 and a 12-month high of $32.24.

Oak Valley Bancorp (NASDAQ:OVLY - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The financial services provider reported $0.67 EPS for the quarter. The company had revenue of $19.86 million for the quarter. Oak Valley Bancorp had a net margin of 27.04% and a return on equity of 13.15%.

Oak Valley Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, July 28th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, July 28th. This is an increase from Oak Valley Bancorp's previous quarterly dividend of $0.07. This represents a $1.20 annualized dividend and a yield of 4.6%. Oak Valley Bancorp's dividend payout ratio (DPR) is currently 20.48%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC lifted its holdings in shares of Oak Valley Bancorp by 190.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,506 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 987 shares in the last quarter. Deutsche Bank AG purchased a new position in shares of Oak Valley Bancorp during the fourth quarter valued at approximately $59,000. Nuveen LLC purchased a new position in shares of Oak Valley Bancorp during the first quarter valued at approximately $217,000. Wells Fargo & Company MN lifted its stake in shares of Oak Valley Bancorp by 12.2% during the fourth quarter. Wells Fargo & Company MN now owns 8,000 shares of the financial services provider's stock valued at $234,000 after buying an additional 872 shares during the period. Finally, Hsbc Holdings PLC lifted its stake in shares of Oak Valley Bancorp by 9.4% during the fourth quarter. Hsbc Holdings PLC now owns 9,330 shares of the financial services provider's stock valued at $281,000 after buying an additional 803 shares during the period. 30.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.