Oak Valley Bancorp (NASDAQ:OVLY) Stock Price Crosses Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Oak Valley Bancorp shares fell below their 200-day moving average, reaching $33.27 before closing at $33.60, below the $33.82 long-term average. Trading volume was 11,059 shares.
• Despite Weiss Ratings downgrading the stock from “buy (b)” to “buy (b-),” the company retains a consensus “Buy” rating from analysts.
• Insiders purchased 3,797 shares worth $126,084 over the past three months, while institutional investors own 30.86% of the company; Oak Valley Bancorp recently reported quarterly EPS of $0.61 and revenue of $20.61 million.

Shares of Oak Valley Bancorp (CA) (NASDAQ:OVLY - Get Free Report) passed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $33.82 and traded as low as $33.27. Oak Valley Bancorp shares last traded at $33.60, with a volume of 11,059 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of 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. According to MarketBeat.com, the stock currently has a consensus rating of "Buy".

Oak Valley Bancorp Price Performance

The firm has a fifty day simple moving average of $34.15 and a two-hundred day simple moving average of $33.82. The firm has a market capitalization of $282.58 million, a P/E ratio of 11.91 and a beta of 0.22.

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

Insider Activity

In other Oak Valley Bancorp news, Director Gary Strong acquired 2,000 shares of the company's stock in a transaction on Monday, July 27th. The shares were acquired at an average cost of $32.50 per share, with a total value of $65,000.00. Following the completion of the acquisition, the director directly owned 14,842 shares in the company, valued at $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 accessible through this hyperlink. Also, Director Allison Lafferty acquired 1,307 shares of the company's stock in a transaction on Wednesday, August 26th. The shares were acquired at an average cost of $33.93 per share, for a total transaction of $44,346.51. Following the completion of the acquisition, the director owned 10,000 shares of the company's stock, valued at approximately $339,300. The trade was a 15.04% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders purchased 3,797 shares of company stock valued at $126,084 and sold 1,125 shares valued at $37,808. Company insiders own 13.94% of the company's stock.

Hedge Funds Weigh In On Oak Valley Bancorp

Large investors have recently modified their holdings of the business. State Street Corp lifted its stake in shares of Oak Valley Bancorp by 23.0% during the 2nd quarter. State Street Corp now owns 130,531 shares of the financial services provider's stock valued at $4,405,000 after buying an additional 24,382 shares in the last quarter. Squarepoint Ops LLC bought a new position in Oak Valley Bancorp in the 2nd quarter worth approximately $802,000. Kestra Advisory Services LLC boosted its holdings in Oak Valley Bancorp by 1,578.7% in the 1st quarter. Kestra Advisory Services LLC now owns 23,519 shares of the financial services provider's stock worth $763,000 after buying an additional 22,118 shares during the period. Citadel Advisors LLC boosted its holdings in Oak Valley Bancorp by 280.6% in the 2nd 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 during the period. Finally, Susquehanna International Group LLP purchased a new position in Oak Valley Bancorp in the 2nd quarter valued at approximately $718,000. Hedge funds and other institutional investors 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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