Oak Valley Bancorp (NASDAQ:OVLY) Stock Price Passes Below 200-Day Moving Average - What's Next?

Key Points

• Oak Valley Bancorp shares fell below their 200-day moving average, closing at $26.14, with a trading volume of 2,474 shares.
• Despite the recent decline in stock price, Weiss Ratings maintains a "buy" rating for Oak Valley Bancorp, with overall consensus remaining positive.
• Insider trading activity has been noted, with Director Daniel J. Leonard purchasing 1,000 shares for $26.20 each, indicating confidence in the company's prospects.

Oak Valley Bancorp (CA) (NASDAQ:OVLY - Get Free Report) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $26.75 and traded as low as $26.14. Oak Valley Bancorp shares last traded at $26.14, with a volume of 2,474 shares.

Analyst Ratings Changes

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

Oak Valley Bancorp Price Performance

The firm's 50-day simple moving average is $27.92 and its two-hundred day simple moving average is $26.75. The company has a market capitalization of $219.05 million, a price-to-earnings ratio of 8.92 and a beta of 0.38.

Insiders Place Their Bets

In related news, Director Daniel J. Leonard bought 1,000 shares of the stock in a transaction on Friday, August 1st. The shares were bought at an average cost of $26.20 per share, for a total transaction of $26,200.00. Following the completion of the transaction, the director owned 62,223 shares of the company's stock, valued at $1,630,242.60. This represents a 1.63% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought 2,553 shares of company stock worth $68,385 in the last quarter. Corporate insiders own 18.08% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its position in 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 worth $4,398,000 after buying an additional 2,592 shares during the period. Fourthstone LLC grew its position in Oak Valley Bancorp by 36.3% during the second 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 period. M3F Inc. grew its position in Oak Valley Bancorp by 0.8% during the first quarter. M3F Inc. now owns 122,436 shares of the financial services provider's stock worth $3,056,000 after buying an additional 1,000 shares during the period. Valmark Advisers Inc. grew its position in Oak Valley Bancorp by 1.7% during the first quarter. Valmark Advisers Inc. now owns 60,009 shares of the financial services provider's stock worth $1,498,000 after buying an additional 1,000 shares during the period. Finally, Cetera Investment Advisers grew its position in Oak Valley Bancorp by 392.3% during the first 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 period. 30.86% of the stock is currently owned by institutional investors and hedge funds.

Oak Valley Bancorp Company Profile

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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