Oak Valley Bancorp (NASDAQ:OVLY) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened

Shares of Oak Valley Bancorp (NASDAQ:OVLY) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $27.52 and traded as low as $23.69. Oak Valley Bancorp shares last traded at $23.75, with a volume of 9,501 shares.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Oak Valley Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, February 11th.

Oak Valley Bancorp Trading Up 1.6 %

The stock’s 50-day moving average price is $26.49 and its 200-day moving average price is $27.49. The company has a market capitalization of $201.79 million, a P/E ratio of 7.99 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 firm 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. This is an increase from Oak Valley Bancorp’s previous semi-annual dividend of $0.23. This represents a dividend yield of 1.7%. The ex-dividend date was Monday, February 3rd. Oak Valley Bancorp’s dividend payout ratio (DPR) is presently 19.87%.

Insider Transactions at Oak Valley Bancorp

In other news, Director H Randolph Holder, Jr. acquired 2,393 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were purchased at an average cost of $25.00 per share, for a total transaction of $59,825.00. Following the transaction, the director now directly owns 150,026 shares in the company, valued at $3,750,650. This trade represents a 1.62 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary Strong acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was purchased 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 owns 11,842 shares in the company, valued at $321,747.14. The trade was 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 worth $256,577. 19.26% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Oak Valley Bancorp

Large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its stake in Oak Valley Bancorp by 190.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,506 shares of the financial services provider’s stock valued at $44,000 after buying an additional 987 shares during the period. Deutsche Bank AG acquired a new position in Oak Valley Bancorp during the 4th quarter valued at about $59,000. Sierra Ocean LLC acquired a new position in Oak Valley Bancorp during the 4th quarter valued at about $163,000. Legato Capital Management LLC acquired a new position in Oak Valley Bancorp during the 4th quarter valued at about $212,000. Finally, Wells Fargo & Company MN increased its stake in Oak Valley Bancorp by 12.2% during the 4th quarter. Wells Fargo & Company MN now owns 8,000 shares of the financial services provider’s stock valued at $234,000 after buying an additional 872 shares during the period. Institutional investors and hedge funds own 30.86% of the company’s stock.

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.