StockNews.com Upgrades Oak Valley Bancorp (NASDAQ:OVLY) to “Hold”

Oak Valley Bancorp (NASDAQ:OVLY) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

Oak Valley Bancorp Stock Performance

NASDAQ OVLY opened at $24.59 on Tuesday. Oak Valley Bancorp has a 52-week low of $23.00 and a 52-week high of $32.24. The company has a market capitalization of $205.55 million, a P/E ratio of 8.14 and a beta of 0.28. The company has a fifty day moving average of $26.27 and a 200-day moving average of $27.43.

Oak Valley Bancorp (NASDAQ:OVLY) last posted its quarterly earnings results on Friday, January 24th. The financial services provider reported $0.73 earnings per share for the quarter. Oak Valley Bancorp had a net margin of 28.03% and a return on equity of 14.28%.

Insider Activity at Oak Valley Bancorp

In other news, Director Gary Strong bought 1,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were purchased at an average price of $27.17 per share, for a total transaction of $27,170.00. Following the completion of the purchase, the director now owns 11,842 shares in the company, valued at approximately $321,747.14. This represents a 9.22 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director H Randolph Holder, Jr. acquired 2,393 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were bought at an average price of $25.00 per share, for a total transaction of $59,825.00. Following the transaction, the director now owns 150,026 shares of the company’s stock, valued at $3,750,650. This trade represents a 1.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 9,924 shares of company stock worth $256,577 over the last 90 days. 19.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in OVLY. FMR LLC grew its stake in Oak Valley Bancorp by 0.4% during the third quarter. FMR LLC now owns 217,128 shares of the financial services provider’s stock valued at $5,769,000 after acquiring an additional 842 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Oak Valley Bancorp by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 155,526 shares of the financial services provider’s stock valued at $4,133,000 after buying an additional 3,646 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Oak Valley Bancorp by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 108,971 shares of the financial services provider’s stock valued at $3,188,000 after buying an additional 1,499 shares in the last quarter. State Street Corp increased its position in Oak Valley Bancorp by 0.6% during the 3rd quarter. State Street Corp now owns 86,390 shares of the financial services provider’s stock valued at $2,295,000 after purchasing an additional 510 shares during the period. Finally, Valmark Advisers Inc. purchased a new position in Oak Valley Bancorp during the 4th quarter valued at about $1,726,000. 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.