Short Interest in Oak Valley Bancorp (CA) (NASDAQ:OVLY) Expands By 79.7%

Oak Valley Bancorp (CA) (NASDAQ:OVLY) was the recipient of a significant growth in short interest in June. As of June 30th, there was short interest totaling 100,518 shares, a growth of 79.7% from the June 15th total of 55,927 shares. Based on an average daily volume of 63,329 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.4% of the shares of the stock are sold short.

Oak Valley Bancorp Price Performance

Oak Valley Bancorp stock traded down $0.92 during trading on Friday, reaching $33.47. 21,019 shares of the company were exchanged, compared to its average volume of 31,885. The stock’s 50 day simple moving average is $33.64 and its two-hundred day simple moving average is $32.88. The company has a market capitalization of $281.48 million, a P/E ratio of 11.62 and a beta of 0.21. Oak Valley Bancorp has a 52-week low of $25.41 and a 52-week high of $35.97.

Oak Valley Bancorp (NASDAQ:OVLY) last issued its earnings results on Tuesday, May 12th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter. Oak Valley Bancorp had a return on equity of 11.99% and a net margin of 24.80%.The business had revenue of $20.78 million during the quarter.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in OVLY. Kestra Advisory Services LLC purchased a new stake in shares of Oak Valley Bancorp in the 4th quarter valued at approximately $42,000. BNP Paribas Financial Markets boosted its position in shares of Oak Valley Bancorp by 123.4% during the third quarter. BNP Paribas Financial Markets now owns 2,708 shares of the financial services provider’s stock worth $76,000 after buying an additional 1,496 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Oak Valley Bancorp by 23.6% in the third quarter. JPMorgan Chase & Co. now owns 5,997 shares of the financial services provider’s stock valued at $169,000 after buying an additional 1,145 shares in the last quarter. Legato Capital Management LLC acquired a new stake in shares of Oak Valley Bancorp in the fourth quarter valued at $207,000. Finally, Jane Street Group LLC purchased a new stake in shares of Oak Valley Bancorp in the 2nd quarter valued at $208,000. 30.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Oak Valley Bancorp in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy”.

About Oak Valley Bancorp

Oak Valley Bancorp is the bank holding company for Oak Valley Community Bank, a California-chartered commercial bank headquartered in Lodi, California. Through its subsidiary, the company offers a full suite of banking services tailored to individuals, businesses, agricultural enterprises and nonprofit organizations. Its product portfolio includes checking and savings accounts, money market instruments, certificates of deposit and individual retirement accounts, alongside digital banking tools such as mobile and online banking platforms.

On the lending side, Oak Valley Bancorp provides commercial real estate and construction loans, agricultural and farm real estate financing, equipment leases, SBA-initiated programs and lines of credit.