Oak Valley Bancorp (NASDAQ:OVLY) Shares Pass Above 50 Day Moving Average - Time to Sell?

Key Points

• Oak Valley Bancorp's stocks crossed above its 50-day moving average during recent trading, reaching a high of $28.87, while the current stock price is $28.87 with a market cap of $241.96 million.
• The company announced a quarterly dividend of $0.30, representing a significant increase from the previous quarterly dividend of $0.07, with an annualized yield of 4.2%.
• Insider activity shows Director Daniel J. Leonard acquired 1,000 shares at $26.20, increasing his holdings to over 62,000 shares, amidst growing institutional investment in the stock.

Shares of Oak Valley Bancorp (CA) (NASDAQ:OVLY - Get Free Report) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $27.97 and traded as high as $28.87. Oak Valley Bancorp shares last traded at $28.87, with a volume of 30,393 shares trading hands.

Oak Valley Bancorp Stock Performance

The company has a market cap of $241.96 million, a P/E ratio of 9.85 and a beta of 0.45. The stock has a 50-day moving average of $27.97 and a two-hundred day moving average of $26.40.

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

Oak Valley Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, July 28th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Monday, July 28th. This is a positive change from Oak Valley Bancorp's previous quarterly dividend of $0.07. Oak Valley Bancorp's dividend payout ratio is 20.48%.

Insider Activity at Oak Valley Bancorp

In other Oak Valley Bancorp news, Director Daniel J. Leonard bought 1,000 shares of Oak Valley Bancorp stock in a transaction on Friday, August 1st. The stock was acquired at an average price 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 approximately $1,630,242.60. This trade represents a 1.63% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders acquired 2,553 shares of company stock valued at $68,385. 18.08% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Oak Valley Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of OVLY. Fourthstone LLC boosted its stake in shares of Oak Valley Bancorp by 36.3% in the 2nd quarter. Fourthstone LLC now owns 141,400 shares of the financial services provider's stock worth $3,852,000 after buying an additional 37,692 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Oak Valley Bancorp by 392.3% in the 1st quarter. Cetera Investment Advisers now owns 45,719 shares of the financial services provider's stock worth $1,141,000 after buying an additional 36,432 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Oak Valley Bancorp in the 2nd quarter worth $319,000. Nuveen LLC purchased a new position in shares of Oak Valley Bancorp in the 1st quarter worth $217,000. Finally, Jane Street Group LLC purchased a new position in shares of Oak Valley Bancorp in the 2nd quarter worth $208,000. 30.86% of the stock is currently owned by hedge funds and other institutional investors.

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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