Oak Valley Bancorp (NASDAQ:OVLY) Stock Price Breaks Below Two Hundred Day Moving Average – Time to Sell?

Shares of Oak Valley Bancorp (CA) (NASDAQ:OVLY – Get Free Report) crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $33.82 and traded as low as $33.27. Oak Valley Bancorp shares last traded at $33.60, with a volume of 11,059 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded Oak Valley Bancorp from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, August 14th. One investment analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Get Our Latest Research Report on Oak Valley Bancorp

Oak Valley Bancorp Stock Performance

The company has a market capitalization of $288.04 million, a P/E ratio of 12.15 and a beta of 0.22. The company’s fifty day simple moving average is $34.14 and its 200-day simple moving average is $33.83.

Oak Valley Bancorp (NASDAQ:OVLY – Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The financial services provider reported $0.77 EPS for the quarter. The company 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%.

Insider Buying and Selling at Oak Valley Bancorp

In other news, Director Allison Lafferty bought 1,307 shares of the stock in a transaction on Wednesday, August 26th. The stock was purchased at an average price of $33.93 per share, with a total value of $44,346.51. Following the completion of the purchase, the director owned 10,000 shares of the company’s stock, valued at approximately $339,300. This trade represents a 15.04% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Gary Strong acquired 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The shares were purchased at an average price of $32.50 per share, with a total value of $65,000.00. Following the completion of the acquisition, the director owned 14,842 shares of the company’s stock, valued at $482,365. This represents a 15.57% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have purchased 3,797 shares of company stock valued at $126,084 and have sold 1,125 shares valued at $37,808. 13.94% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in shares of Oak Valley Bancorp by 11.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 158,145 shares of the financial services provider’s stock valued at $5,128,000 after acquiring an additional 15,865 shares during the last quarter. State Street Corp lifted its holdings in Oak Valley Bancorp by 23.0% during the 2nd quarter. State Street Corp now owns 130,531 shares of the financial services provider’s stock worth $4,405,000 after buying an additional 24,382 shares during the period. Renaissance Technologies LLC increased its stake in shares of Oak Valley Bancorp by 42.8% in the first quarter. Renaissance Technologies LLC now owns 35,375 shares of the financial services provider’s stock valued at $1,147,000 after buying an additional 10,602 shares during the period. Citadel Advisors LLC increased its position in Oak Valley Bancorp by 280.6% during the 2nd quarter. Citadel Advisors LLC now owns 28,963 shares of the financial services provider’s stock valued at $977,000 after purchasing an additional 21,354 shares during the period. Finally, Squarepoint Ops LLC acquired a new position in shares of Oak Valley Bancorp in the 2nd quarter worth approximately $802,000. 30.86% of the stock is currently owned by institutional investors and hedge funds.

About Oak Valley Bancorp

(Get Free Report)

Oak Valley Bancorp is a bank holding company headquartered in Oakdale, California. Through its subsidiary, Oak Valley Community Bank, the company provides banking services to individuals, families, farmers, and businesses in California’s Central Valley.

Oak Valley Community Bank offers deposit products, commercial and agricultural loans, commercial real estate financing, residential real estate loans, consumer lending, and small-business financing. Its services also include treasury management, online and mobile banking, cash management, and other business banking solutions.

Founded in 1991, Oak Valley Community Bank serves communities primarily in Stanislaus, San Joaquin, and Merced counties through branch locations and digital banking channels.

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