StockNews.com Begins Coverage on Oak Valley Bancorp (NASDAQ:OVLY)

StockNews.com initiated coverage on shares of Oak Valley Bancorp (NASDAQ:OVLY – Get Rating) in a research note released on Thursday morning. The firm issued a hold rating on the financial services provider’s stock.

Oak Valley Bancorp Stock Performance

Oak Valley Bancorp stock opened at $23.94 on Thursday. The firm’s 50-day moving average is $25.84 and its 200-day moving average is $21.69. Oak Valley Bancorp has a 1 year low of $16.52 and a 1 year high of $28.00. The company has a market cap of $197.51 million, a P/E ratio of 8.58 and a beta of 0.30.

Oak Valley Bancorp (NASDAQ:OVLY – Get Rating) last posted its quarterly earnings results on Friday, January 20th. The financial services provider reported $1.15 earnings per share (EPS) for the quarter. The company had revenue of $20.53 million for the quarter. Oak Valley Bancorp had a net margin of 28.65% and a return on equity of 19.27%.

Oak Valley Bancorp Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Friday, February 10th. Investors of record on Monday, January 30th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, January 27th. This is an increase from Oak Valley Bancorp’s previous Semi-Annual dividend of $0.15. This represents a yield of 1.2%. Oak Valley Bancorp’s dividend payout ratio (DPR) is currently 11.47%.

Insider Activity at Oak Valley Bancorp

In other news, Director Don Barton acquired 1,190 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The shares were purchased at an average cost of $27.75 per share, for a total transaction of $33,022.50. Following the transaction, the director now directly owns 35,000 shares in the company, valued at approximately $971,250. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Don Barton bought 1,190 shares of the business’s stock in a transaction on Monday, February 27th. The stock was purchased at an average cost of $27.75 per share, for a total transaction of $33,022.50. Following the completion of the transaction, the director now directly owns 35,000 shares of the company’s stock, valued at approximately $971,250. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lynn Dickerson bought 1,800 shares of the business’s stock in a transaction on Wednesday, February 22nd. The stock was purchased at an average price of $27.50 per share, with a total value of $49,500.00. Following the completion of the transaction, the director now directly owns 17,777 shares of the company’s stock, valued at $488,867.50. The disclosure for this purchase can be found here. Insiders have bought a total of 3,745 shares of company stock worth $98,393 in the last ninety days. 19.11% of the stock is owned by insiders.

Institutional Investors Weigh In On Oak Valley Bancorp

A number of institutional investors have recently added to or reduced their stakes in OVLY. First Republic Investment Management Inc. acquired a new stake in Oak Valley Bancorp in the fourth quarter worth approximately $3,398,000. rhino investment partners Inc lifted its position in Oak Valley Bancorp by 28.7% in the fourth quarter. rhino investment partners Inc now owns 168,063 shares of the financial services provider’s stock worth $3,807,000 after purchasing an additional 37,461 shares during the period. Susquehanna International Group LLP acquired a new stake in Oak Valley Bancorp in the fourth quarter worth approximately $400,000. Vanguard Group Inc. lifted its position in Oak Valley Bancorp by 3.3% in the first quarter. Vanguard Group Inc. now owns 243,536 shares of the financial services provider’s stock worth $4,493,000 after purchasing an additional 7,730 shares during the period. Finally, Morgan Stanley lifted its position in Oak Valley Bancorp by 81.6% in the fourth quarter. Morgan Stanley now owns 9,894 shares of the financial services provider’s stock worth $224,000 after purchasing an additional 4,447 shares during the period. 24.09% of the stock is currently owned by institutional investors and hedge funds.

Oak Valley Bancorp Company Profile

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Oak Valley Bancorp is a bank holding company,which operates through its subsidiary, Oak Valley Community Bank offers commercial banking services. It offers checking and savings, money markets, home loans, home equity loans, consumer loans, debit master card, telephone banking, mobile banking, commercial loans, agricultural loans, small business loans, and payroll services.