Oak Valley Bancorp (NASDAQ:OVLY) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Oak Valley Bancorp (NASDAQ:OVLY) from a hold rating to a sell rating in a report issued on Wednesday.

Oak Valley Bancorp Stock Up 0.3 %

Oak Valley Bancorp stock opened at $24.78 on Wednesday. The company’s fifty day simple moving average is $24.93 and its 200-day simple moving average is $25.85. Oak Valley Bancorp has a 12 month low of $22.49 and a 12 month high of $30.70. The stock has a market cap of $205.50 million, a P/E ratio of 6.63 and a beta of 0.37.

Oak Valley Bancorp (NASDAQ:OVLY) last posted its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.71 EPS for the quarter. Oak Valley Bancorp had a net margin of 39.97% and a return on equity of 21.84%. The business had revenue of $19.67 million for the quarter.

Oak Valley Bancorp Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Friday, February 9th. Investors of record on Monday, January 29th were issued a $0.225 dividend. The ex-dividend date was Friday, January 26th. This is a boost from Oak Valley Bancorp’s previous Semi-Annual dividend of $0.12. This represents a yield of 1.51%. Oak Valley Bancorp’s dividend payout ratio is currently 12.03%.

Insider Buying and Selling

In other Oak Valley Bancorp news, Director Daniel J. Leonard acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was purchased at an average cost of $26.99 per share, for a total transaction of $26,990.00. Following the completion of the acquisition, the director now owns 58,223 shares of the company’s stock, valued at approximately $1,571,438.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders acquired 2,875 shares of company stock worth $73,368. Corporate insiders own 19.61% of the company’s stock.

Institutional Investors Weigh In On Oak Valley Bancorp

Large investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SNC bought a new stake in Oak Valley Bancorp in the second quarter worth $44,000. Tower Research Capital LLC TRC boosted its holdings in Oak Valley Bancorp by 36.4% during the first quarter. Tower Research Capital LLC TRC now owns 2,056 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 549 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Oak Valley Bancorp during the third quarter valued at about $55,000. California State Teachers Retirement System bought a new stake in Oak Valley Bancorp during the second quarter valued at about $56,000. Finally, MetLife Investment Management LLC bought a new stake in Oak Valley Bancorp during the second quarter valued at about $92,000. 30.86% of the stock is currently owned by 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.