Oak Valley Bancorp (NASDAQ:OVLY) Posts Quarterly Earnings Results

Key Points

• Oak Valley Bancorp reported $0.81 earnings per share for the quarter, with a net margin of 26.38% and a return on equity of 13.12%.
• The company's stock price increased by $1.07 to reach $27.21, with institutional investors holding 30.86% of the stock.
• Analysts have given Oak Valley Bancorp an average rating of "Buy", with one analyst maintaining a buy rating.

Oak Valley Bancorp (NASDAQ:OVLY - Get Free Report) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.81 earnings per share for the quarter, Zacks reports. Oak Valley Bancorp had a net margin of 26.38% and a return on equity of 13.12%.

Oak Valley Bancorp Stock Performance

NASDAQ:OVLY traded up $1.07 during trading hours on Wednesday, reaching $27.21. The company's stock had a trading volume of 10,010 shares, compared to its average volume of 12,918. The firm has a market capitalization of $228.02 million, a price-to-earnings ratio of 9.29 and a beta of 0.38. Oak Valley Bancorp has a 1 year low of $22.70 and a 1 year high of $32.24. The firm has a 50-day simple moving average of $27.92 and a 200-day simple moving average of $26.75.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "buy (b)" rating on shares of Oak Valley Bancorp in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Oak Valley Bancorp presently has an average rating of "Buy".

Insider Transactions at Oak Valley Bancorp

In other news, Director Daniel J. Leonard purchased 1,000 shares of the business's stock in a transaction on Friday, August 1st. The shares were acquired at an average price of $26.20 per share, with a total value of $26,200.00. Following the acquisition, the director directly owned 62,223 shares in the company, valued at approximately $1,630,242.60. The trade was a 1.63% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders have acquired 2,553 shares of company stock valued at $68,385. 18.08% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oak Valley Bancorp

A number of large investors have recently added to or reduced their stakes in the company. Jane Street Group LLC bought a new stake in Oak Valley Bancorp in the 2nd quarter worth $208,000. Hsbc Holdings PLC boosted its stake in shares of Oak Valley Bancorp by 20.9% during the 2nd quarter. Hsbc Holdings PLC now owns 15,037 shares of the financial services provider's stock valued at $409,000 after purchasing an additional 2,603 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Oak Valley Bancorp by 59.4% during the 2nd quarter. Rhumbline Advisers now owns 10,401 shares of the financial services provider's stock valued at $283,000 after purchasing an additional 3,875 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Oak Valley Bancorp by 1.6% during the second quarter. Geode Capital Management LLC now owns 161,422 shares of the financial services provider's stock valued at $4,398,000 after buying an additional 2,592 shares during the period. Institutional investors own 30.86% of the company's stock.

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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