Oak Valley Bancorp (NASDAQ:OVLY) Share Price Breaks Above 50 Day Moving Average – Time to Sell?

Oak Valley Bancorp (CA) (NASDAQ:OVLY) crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $34.09 and traded as high as $34.60. Oak Valley Bancorp shares last traded at $34.28, with a volume of 29,948 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Oak Valley Bancorp from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, August 14th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Oak Valley Bancorp presently has an average rating of “Buy”.

Oak Valley Bancorp Trading Down 1.4%

The firm has a fifty day moving average price of $34.09 and a 200 day moving average price of $33.69. The firm has a market cap of $286.55 million, a PE ratio of 12.08 and a beta of 0.22.

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

Oak Valley Bancorp Announces Dividend

The company also recently declared a dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were paid a $0.3750 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a dividend yield of 223.0%. Oak Valley Bancorp’s dividend payout ratio is 26.60%.

Insider Buying and Selling

In other Oak Valley Bancorp news, Director Allison Lafferty acquired 1,307 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were purchased 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 position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gary Strong acquired 2,000 shares of the stock in a transaction that occurred on Monday, July 27th. The stock was acquired at an average price of $32.50 per share, with a total value of $65,000.00. Following the completion of the transaction, the director directly owned 14,842 shares of the company’s stock, valued at $482,365. This trade represents a 15.57% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 3,797 shares of company stock valued at $126,084 and have sold 1,125 shares valued at $37,808. 13.94% of the stock is owned by company insiders.

Hedge Funds Weigh In On Oak Valley Bancorp

Large investors have recently modified their holdings of the business. State Street Corp grew its holdings 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 worth $4,405,000 after purchasing an additional 24,382 shares during the period. Squarepoint Ops LLC purchased a new stake in Oak Valley Bancorp in the 2nd quarter valued at about $802,000. Citadel Advisors LLC lifted its position in Oak Valley Bancorp by 280.6% in the second quarter. Citadel Advisors LLC now owns 28,963 shares of the financial services provider’s stock valued at $977,000 after buying an additional 21,354 shares during the last quarter. Susquehanna International Group LLP purchased a new position in Oak Valley Bancorp during the second quarter worth about $718,000. Finally, Hsbc Holdings PLC boosted its stake in Oak Valley Bancorp by 9.1% during the second quarter. Hsbc Holdings PLC now owns 23,450 shares of the financial services provider’s stock worth $786,000 after buying an additional 1,949 shares during the period. Institutional investors and hedge funds own 30.86% of the company’s stock.

Oak Valley Bancorp Company Profile

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.