Oak Valley Bancorp (NASDAQ:OVLY) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Oak Valley Bancorp (NASDAQ:OVLY) from a sell rating to a hold rating in a report released on Tuesday.

Oak Valley Bancorp Stock Up 0.9 %

Shares of OVLY opened at $24.54 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 50-day simple moving average of $26.32 and a 200-day simple moving average of $27.45. The company has a market capitalization of $205.13 million, a PE ratio of 8.13 and a beta of 0.28.

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 (EPS) for the quarter. Oak Valley Bancorp had a net margin of 28.03% and a return on equity of 14.28%.

Oak Valley Bancorp Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a $0.30 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a dividend yield of 1.7%. This is a boost from Oak Valley Bancorp’s previous semi-annual dividend of $0.23. Oak Valley Bancorp’s dividend payout ratio (DPR) is currently 19.87%.

Insider Activity at Oak Valley Bancorp

In related news, Director H Randolph Holder, Jr. purchased 6,000 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was bought at an average cost of $25.97 per share, with a total value of $155,820.00. Following the completion of the acquisition, the director now directly owns 147,633 shares in the company, valued at $3,834,029.01. The trade was a 4.24 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary Strong acquired 1,000 shares of Oak Valley Bancorp stock in a transaction dated Wednesday, January 8th. The stock was bought at an average price of $27.17 per share, for a total transaction of $27,170.00. Following the completion of the transaction, the director now directly owns 11,842 shares of the company’s stock, valued at approximately $321,747.14. This represents a 9.22 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 9,924 shares of company stock valued at $256,577. Insiders own 19.26% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Valmark Advisers Inc. purchased a new stake in shares of Oak Valley Bancorp during the fourth quarter worth about $1,726,000. JPMorgan Chase & Co. boosted its position in Oak Valley Bancorp by 118.8% during the fourth quarter. JPMorgan Chase & Co. now owns 23,537 shares of the financial services provider’s stock worth $688,000 after acquiring an additional 12,782 shares during the last quarter. Fourthstone LLC purchased a new stake in Oak Valley Bancorp in the 3rd quarter worth approximately $295,000. Barclays PLC raised its holdings in Oak Valley Bancorp by 122.8% in the 3rd quarter. Barclays PLC now owns 15,368 shares of the financial services provider’s stock valued at $408,000 after acquiring an additional 8,471 shares during the last quarter. Finally, Legato Capital Management LLC purchased a new position in shares of Oak Valley Bancorp during the 4th quarter worth $212,000. 30.86% of the stock is currently owned by hedge funds and other 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.