Oak Valley Bancorp (NASDAQ:OVLY) Lowered to “Sell” at StockNews.com

StockNews.com cut shares of Oak Valley Bancorp (NASDAQ:OVLY) from a hold rating to a sell rating in a research note issued to investors on Friday.

Oak Valley Bancorp Stock Performance

NASDAQ:OVLY opened at $24.40 on Friday. Oak Valley Bancorp has a 52-week low of $22.49 and a 52-week high of $30.70. The company has a market cap of $202.28 million, a P/E ratio of 7.37 and a beta of 0.36. The stock’s 50-day simple moving average is $24.08 and its 200 day simple moving average is $25.64.

Oak Valley Bancorp (NASDAQ:OVLY) last issued its quarterly earnings data on Friday, January 19th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter. Oak Valley Bancorp had a return on equity of 18.30% and a net margin of 35.34%. The company had revenue of $19.67 million during the quarter.

Insiders Place Their Bets

In other news, Director Daniel J. Leonard bought 1,000 shares of Oak Valley Bancorp stock in a transaction dated Wednesday, January 31st. The stock was bought at an average cost of $26.99 per share, for a total transaction of $26,990.00. Following the purchase, the director now directly owns 58,223 shares in the company, valued at approximately $1,571,438.77. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired 2,923 shares of company stock worth $74,598 over the last three months. Insiders own 19.61% of the company’s stock.

Institutional Investors Weigh In On Oak Valley Bancorp

Hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new position in shares of Oak Valley Bancorp during the 3rd quarter valued at $55,000. SG Americas Securities LLC bought a new stake in Oak Valley Bancorp in the fourth quarter worth $110,000. BNP Paribas Financial Markets lifted its stake in Oak Valley Bancorp by 68.4% in the fourth quarter. BNP Paribas Financial Markets now owns 11,364 shares of the financial services provider’s stock worth $340,000 after purchasing an additional 4,616 shares during the last quarter. Finally, FMR LLC lifted its stake in Oak Valley Bancorp by 2.0% in the third quarter. FMR LLC now owns 214,083 shares of the financial services provider’s stock worth $5,369,000 after purchasing an additional 4,213 shares during the last quarter. Institutional investors own 30.86% of the company’s stock.

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.