Oak Valley Bancorp (NASDAQ:OVLY) Announces Quarterly Earnings Results

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

Oak Valley Bancorp Price Performance

Oak Valley Bancorp stock traded down $0.20 during mid-day trading on Tuesday, hitting $34.48. 2,164 shares of the company’s stock traded hands, compared to its average volume of 28,879. The stock has a market cap of $289.93 million, a price-to-earnings ratio of 12.40 and a beta of 0.24. The firm has a 50 day simple moving average of $34.20 and a two-hundred day simple moving average of $33.53. Oak Valley Bancorp has a fifty-two week low of $27.21 and a fifty-two week high of $36.08.

Insider Activity at Oak Valley Bancorp

In other Oak Valley Bancorp news, Director Allison Lafferty bought 1,307 shares of Oak Valley Bancorp stock in a transaction on Wednesday, August 26th. The shares were purchased at an average cost of $33.93 per share, with a total value of $44,346.51. Following the acquisition, the director directly owned 10,000 shares of the company’s stock, valued at $339,300. The trade was a 15.04% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have bought 1,922 shares of company stock valued at $65,380 and have sold 1,125 shares valued at $38,288. Company insiders own 13.94% of the company’s stock.

Institutional Trading of Oak Valley Bancorp

A number of large investors have recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Oak Valley Bancorp by 23.0% in the 2nd quarter. State Street Corp now owns 130,531 shares of the financial services provider’s stock valued at $4,405,000 after purchasing an additional 24,382 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Oak Valley Bancorp during the 2nd quarter valued at about $802,000. Citadel Advisors LLC lifted its stake in shares of Oak Valley Bancorp by 280.6% in the 2nd quarter. Citadel Advisors LLC now owns 28,963 shares of the financial services provider’s stock worth $977,000 after purchasing an additional 21,354 shares during the period. Susquehanna International Group LLP bought a new stake in Oak Valley Bancorp during the second quarter valued at about $718,000. Finally, Hsbc Holdings PLC boosted its position in shares of Oak Valley Bancorp by 9.1% in the second quarter. Hsbc Holdings PLC now owns 23,450 shares of the financial services provider’s stock worth $786,000 after purchasing an additional 1,949 shares during the period. 30.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Oak Valley Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, November 2nd. One investment analyst has rated the stock with a Buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

About Oak Valley Bancorp

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.