Oak Valley Bancorp (NASDAQ:OVLY) Lowered to Sell Rating by StockNews.com

StockNews.com downgraded shares of Oak Valley Bancorp (NASDAQ:OVLY) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.

Oak Valley Bancorp Stock Performance

Oak Valley Bancorp stock opened at $27.95 on Tuesday. Oak Valley Bancorp has a twelve month low of $22.91 and a twelve month high of $32.24. The firm’s 50 day moving average price is $27.88 and its two-hundred day moving average price is $27.41. The firm has a market cap of $233.66 million, a PE ratio of 9.25 and a beta of 0.33.

Oak Valley Bancorp (NASDAQ:OVLY) last posted its 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 announced a semi-annual dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.30 per share. This is a positive change from Oak Valley Bancorp’s previous semi-annual dividend of $0.23. The ex-dividend date of this dividend is Monday, February 3rd. This represents a yield of 1.7%. Oak Valley Bancorp’s payout ratio is currently 19.87%.

Insider Transactions at Oak Valley Bancorp

In other news, Director H Randolph Holder, Jr. acquired 6,000 shares of the firm’s stock in a transaction on Wednesday, January 29th. The shares were purchased at an average cost of $25.97 per share, with a total value of $155,820.00. Following the completion of the purchase, the director now owns 147,633 shares of the company’s stock, valued at $3,834,029.01. This represents a 4.24 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary Strong purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were acquired at an average cost of $27.17 per share, with a total value of $27,170.00. Following the completion of the acquisition, the director now directly owns 11,842 shares in the company, 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. Over the last quarter, insiders have purchased 7,381 shares of company stock worth $192,702. Insiders own 19.26% of the company’s stock.

Institutional Investors Weigh In On Oak Valley Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. Sierra Ocean LLC acquired a new stake in Oak Valley Bancorp during the 4th quarter worth $163,000. Legato Capital Management LLC acquired a new stake in Oak Valley Bancorp in the 4th quarter valued at approximately $212,000. JPMorgan Chase & Co. grew its position in Oak Valley Bancorp by 123.6% in the third quarter. JPMorgan Chase & Co. now owns 10,755 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 5,945 shares in the last quarter. Fourthstone LLC acquired a new stake in shares of Oak Valley Bancorp in the third quarter valued at about $295,000. Finally, Seizert Capital Partners LLC bought a new stake in shares of Oak Valley Bancorp during the 3rd quarter worth approximately $327,000. Institutional investors own 30.86% of the company’s stock.

Oak Valley Bancorp Company Profile

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.