Oak Valley Bancorp (CA) (NASDAQ:OVLY) Short Interest Update

Key Points

• Short interest in Oak Valley Bancorp surged 79.7% in June, reaching 100,518 shares as of June 30, or about 1.4% of shares outstanding. The stock’s days-to-cover ratio stands at 1.6 days based on average volume.
• Institutional ownership remains notable, with hedge funds and other investors actively adjusting positions. About 30.86% of the stock is held by institutional investors, and several firms increased their stakes in recent quarters.
• Oak Valley Bancorp’s shares rose 2.6% to open at $34.39, near the top of its 52-week range. The company reported quarterly EPS of $0.64, with a net margin of 24.80% and return on equity of 11.99%, while Weiss Ratings reaffirmed a buy rating.

Oak Valley Bancorp (CA) (NASDAQ:OVLY - Get Free Report) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 100,518 shares, a growth of 79.7% from the June 15th total of 55,927 shares. Based on an average daily volume of 63,329 shares, the days-to-cover ratio is presently 1.6 days. Approximately 1.4% of the shares of the company are short sold.

Institutional Trading of Oak Valley Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its stake in shares of Oak Valley Bancorp by 42.8% in the 1st quarter. Renaissance Technologies LLC now owns 35,375 shares of the financial services provider's stock worth $1,147,000 after acquiring an additional 10,602 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Oak Valley Bancorp by 11.2% during the first quarter. Dimensional Fund Advisors LP now owns 158,145 shares of the financial services provider's stock valued at $5,128,000 after acquiring an additional 15,865 shares during the period. Kestra Advisory Services LLC increased its stake in shares of Oak Valley Bancorp by 1,578.7% during the first quarter. Kestra Advisory Services LLC now owns 23,519 shares of the financial services provider's stock valued at $763,000 after acquiring an additional 22,118 shares during the period. Hsbc Holdings PLC raised its holdings in Oak Valley Bancorp by 10.0% during the fourth quarter. Hsbc Holdings PLC now owns 23,513 shares of the financial services provider's stock worth $716,000 after purchasing an additional 2,138 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in Oak Valley Bancorp by 9.0% during the fourth quarter. AQR Capital Management LLC now owns 19,063 shares of the financial services provider's stock worth $573,000 after purchasing an additional 1,582 shares in the last quarter. 30.86% of the stock is currently owned by institutional investors.

Oak Valley Bancorp Stock Up 2.6%

Shares of NASDAQ:OVLY opened at $34.39 on Friday. The company's 50-day moving average price is $33.64 and its 200 day moving average price is $32.88. The company has a market cap of $289.22 million, a PE ratio of 11.94 and a beta of 0.21. Oak Valley Bancorp has a fifty-two week low of $25.41 and a fifty-two week high of $35.97.

Oak Valley Bancorp (NASDAQ:OVLY - Get Free Report) last posted its earnings results on Tuesday, May 12th. The financial services provider reported $0.64 EPS for the quarter. Oak Valley Bancorp had a net margin of 24.80% and a return on equity of 11.99%. The firm had revenue of $20.78 million during the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Oak Valley Bancorp in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Oak Valley Bancorp has a consensus rating of "Buy".

About Oak Valley Bancorp

Oak Valley Bancorp is the bank holding company for Oak Valley Community Bank, a California-chartered commercial bank headquartered in Lodi, California. Through its subsidiary, the company offers a full suite of banking services tailored to individuals, businesses, agricultural enterprises and nonprofit organizations. Its product portfolio includes checking and savings accounts, money market instruments, certificates of deposit and individual retirement accounts, alongside digital banking tools such as mobile and online banking platforms.

On the lending side, Oak Valley Bancorp provides commercial real estate and construction loans, agricultural and farm real estate financing, equipment leases, SBA-initiated programs and lines of credit.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.