Oak Valley Bancorp (NASDAQ:OVLY) Share Price Breaks Above Fifty Day Moving Average - What's Next?

Key Points

• Oak Valley Bancorp shares moved above their 50-day moving average, reaching $34.60 before closing at $34.28, compared with a 50-day average of $34.09.
• The company reported quarterly EPS of $0.61 on $20.61 million in revenue, with a 24.05% net margin and 11.31% return on equity. MarketBeat’s average analyst rating remains Buy, despite Weiss Ratings lowering its rating from “buy (b)” to “buy (b-).”
• Insiders and institutional investors increased their positions: insiders purchased 3,797 shares during the quarter, while major investors including Dimensional Fund Advisors, State Street, Renaissance Technologies, and Citadel expanded their holdings.

Oak Valley Bancorp (CA) (NASDAQ:OVLY - Get Free Report) shares crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $34.09 and traded as high as $34.60. Oak Valley Bancorp shares last traded at $34.28, with a volume of 29,948 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Oak Valley Bancorp from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, August 14th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Oak Valley Bancorp has an average rating of "Buy".

Oak Valley Bancorp Trading Up 0.6%

The stock has a market cap of $288.29 million, a P/E ratio of 12.16 and a beta of 0.22. The company's fifty day simple moving average is $34.09 and its 200-day simple moving average is $33.66.

Oak Valley Bancorp (NASDAQ:OVLY - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.61 EPS for the quarter. The company had revenue of $20.61 million during the quarter. Oak Valley Bancorp had a net margin of 24.05% and a return on equity of 11.31%.

Oak Valley Bancorp Dividend Announcement

The business also recently declared a dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were given a $0.3750 dividend. This represents a yield of 223.0%. The ex-dividend date was Monday, August 3rd. Oak Valley Bancorp's dividend payout ratio is 26.60%.

Insiders Place Their Bets

In other news, Director Gary Strong bought 2,000 shares of Oak Valley Bancorp stock in a transaction dated Monday, July 27th. The shares were bought at an average price of $32.50 per share, for a total transaction of $65,000.00. Following the purchase, the director owned 14,842 shares of the company's stock, valued at approximately $482,365. This trade represents a 15.57% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Allison Lafferty bought 1,307 shares of Oak Valley Bancorp stock in a transaction dated Wednesday, August 26th. The stock was purchased at an average price of $33.93 per share, for a total transaction of $44,346.51. Following the purchase, the director directly owned 10,000 shares in the company, valued at $339,300. This represents a 15.04% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders acquired 3,797 shares of company stock worth $126,084 and sold 1,125 shares worth $37,808. Corporate insiders own 13.94% of the company's stock.

Institutional Investors Weigh In On Oak Valley Bancorp

A number of hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in Oak Valley Bancorp by 11.2% in 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 buying an additional 15,865 shares in the last quarter. State Street Corp grew its stake in Oak Valley Bancorp by 23.0% during the second quarter. State Street Corp now owns 130,531 shares of the financial services provider's stock worth $4,405,000 after buying an additional 24,382 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Oak Valley Bancorp by 42.8% during the first quarter. Renaissance Technologies LLC now owns 35,375 shares of the financial services provider's stock worth $1,147,000 after buying an additional 10,602 shares in the last quarter. Citadel Advisors LLC increased its holdings in shares of Oak Valley Bancorp by 280.6% during the second quarter. Citadel Advisors LLC now owns 28,963 shares of the financial services provider's stock worth $977,000 after buying an additional 21,354 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Oak Valley Bancorp in the second quarter valued at approximately $802,000. Institutional investors and hedge funds own 30.86% of the company's stock.

About Oak Valley Bancorp

Oak Valley Bancorp is a bank holding company headquartered in Oakdale, California. Through its subsidiary, Oak Valley Community Bank, the company provides banking services to individuals, families, farmers, and businesses in California's Central Valley.

Oak Valley Community Bank offers deposit products, commercial and agricultural loans, commercial real estate financing, residential real estate loans, consumer lending, and small-business financing. Its services also include treasury management, online and mobile banking, cash management, and other business banking solutions.

Founded in 1991, Oak Valley Community Bank serves communities primarily in Stanislaus, San Joaquin, and Merced counties through branch locations and digital banking channels.

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