Oak Valley Bancorp (NASDAQ:OVLY) Posts Earnings Results

Oak Valley Bancorp (NASDAQ:OVLY) announced its earnings results on Tuesday. The financial services provider reported $0.77 earnings per share for the quarter, FiscalAI reports. Oak Valley Bancorp had a return on equity of 11.03% and a net margin of 24.05%. The firm had revenue of $21.65 million for the quarter.

Oak Valley Bancorp Trading Up 4.5%

Oak Valley Bancorp stock traded up $1.54 on Wednesday, hitting $35.80. 436 shares of the stock traded hands, compared to its average volume of 28,791. Oak Valley Bancorp has a 1 year low of $27.21 and a 1 year high of $36.08. The firm has a market cap of $301.04 million, a P/E ratio of 12.88 and a beta of 0.24. The business’s fifty day simple moving average is $34.21 and its 200 day simple moving average is $33.54.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Oak Valley Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, November 2nd. One 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”.

Insider Activity at Oak Valley Bancorp

In related news, Director Allison Lafferty purchased 1,307 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The shares were bought at an average price of $33.93 per share, for a total transaction of $44,346.51. Following the purchase, the director directly owned 10,000 shares of the company’s stock, valued at approximately $339,300. This represents a 15.04% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders purchased 1,922 shares of company stock valued at $65,380 and sold 1,125 shares valued at $38,288. 13.94% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Algert Global LLC purchased a new position in Oak Valley Bancorp in the 2nd quarter worth approximately $334,000. Bank of New York Mellon Corp bought a new position in shares of Oak Valley Bancorp in the 2nd quarter worth approximately $618,000. Susquehanna International Group LLP bought a new position in Oak Valley Bancorp in the second quarter worth approximately $718,000. Hsbc Holdings PLC lifted its position 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 valued at $786,000 after purchasing an additional 1,949 shares in the last quarter. Finally, Kestra Advisory Services LLC grew its stake in shares of Oak Valley Bancorp by 1,578.7% during the 1st quarter. Kestra Advisory Services LLC now owns 23,519 shares of the financial services provider’s stock valued at $763,000 after acquiring an additional 22,118 shares during the period. 30.86% of the stock is owned by hedge funds and other institutional investors.

Oak Valley Bancorp Company Profile

Oak Valley Bancorp is the bank holding company for Oak Valley Community Bank, a community-focused financial institution headquartered in Oakdale, California. The bank serves individuals, families, farmers, professionals, and businesses in California’s Central Valley through a network of banking offices and digital banking services. Oak Valley Community Bank offers a range of commercial and consumer banking products, including checking and savings accounts, certificates of deposit, business and agricultural loans, commercial real estate financing, residential real estate loans, and personal lending.