Oak Valley Bancorp (NASDAQ:OVLY) Stock Passes Below 200-Day Moving Average – Here’s What Happened

Oak Valley Bancorp (NASDAQ:OVLY)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $27.51 and traded as low as $26.60. Oak Valley Bancorp shares last traded at $26.64, with a volume of 15,349 shares.

Wall Street Analyst Weigh In

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

Oak Valley Bancorp Stock Performance

The company has a 50-day moving average price of $27.21 and a 200-day moving average price of $27.51. The firm has a market capitalization of $222.68 million, a price-to-earnings ratio of 8.82 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 for the quarter. Oak Valley Bancorp had a return on equity of 14.28% and a net margin of 28.03%.

Oak Valley Bancorp Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued 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 payout ratio is presently 19.87%.

Insider Activity

In other news, Director H Randolph Holder, Jr. bought 2,393 shares of Oak Valley Bancorp stock in a transaction dated Monday, February 10th. The stock was acquired at an average cost of $25.00 per share, with a total value of $59,825.00. Following the acquisition, the director now owns 150,026 shares of the company’s stock, valued at approximately $3,750,650. This trade represents a 1.62 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gary Strong acquired 1,000 shares of Oak Valley Bancorp stock in a transaction on Wednesday, January 8th. The shares were bought at an average cost of $27.17 per share, with a total value of $27,170.00. Following the completion of the purchase, 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 bought 9,924 shares of company stock valued at $256,577. Insiders own 19.26% of the company’s stock.

Institutional Trading of Oak Valley Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in Oak Valley Bancorp by 0.6% during the 3rd quarter. State Street Corp now owns 86,390 shares of the financial services provider’s stock valued at $2,295,000 after acquiring an additional 510 shares during the last quarter. Hsbc Holdings PLC raised its stake in Oak Valley Bancorp by 9.4% during the 4th quarter. Hsbc Holdings PLC now owns 9,330 shares of the financial services provider’s stock valued at $281,000 after acquiring an additional 803 shares during the last quarter. FMR LLC raised its stake in Oak Valley Bancorp by 0.4% during the 3rd quarter. FMR LLC now owns 217,128 shares of the financial services provider’s stock valued at $5,769,000 after acquiring an additional 842 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of 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 worth $234,000 after buying an additional 872 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of 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 worth $44,000 after buying an additional 987 shares in the last quarter. 30.86% of the stock is owned by hedge funds and other institutional investors.

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.