StockNews.com Downgrades Oak Valley Bancorp (NASDAQ:OVLY) to Sell

Oak Valley Bancorp (NASDAQ:OVLY) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Oak Valley Bancorp Price Performance

NASDAQ OVLY traded up $1.02 during trading hours on Friday, hitting $24.30. 10,014 shares of the company’s stock traded hands, compared to its average volume of 11,083. Oak Valley Bancorp has a 52-week low of $22.49 and a 52-week high of $30.70. The company has a market capitalization of $201.52 million, a PE ratio of 6.50 and a beta of 0.36. The firm’s 50-day moving average is $24.13 and its 200-day moving average is $25.64.

Oak Valley Bancorp (NASDAQ:OVLY) last announced its quarterly earnings data on Friday, January 19th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter. Oak Valley Bancorp had a net margin of 35.34% and a return on equity of 20.92%. The company had revenue of $19.67 million during the quarter.

Insider Buying and Selling at Oak Valley Bancorp

In other news, Director Daniel J. Leonard bought 1,000 shares of the firm’s stock in a transaction on Wednesday, January 31st. The shares were bought at an average cost of $26.99 per share, for a total transaction of $26,990.00. Following the acquisition, the director now directly owns 58,223 shares of the company’s stock, valued at approximately $1,571,438.77. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought 2,923 shares of company stock worth $74,598 in the last ninety days. 19.61% of the stock is owned by insiders.

Hedge Funds Weigh In On Oak Valley Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SNC acquired a new position in shares of Oak Valley Bancorp in the 2nd quarter worth approximately $44,000. Tower Research Capital LLC TRC lifted its holdings in shares of Oak Valley Bancorp by 36.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,056 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 549 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Oak Valley Bancorp in the 3rd quarter worth approximately $55,000. California State Teachers Retirement System acquired a new position in shares of Oak Valley Bancorp in the 2nd quarter worth approximately $56,000. Finally, Citigroup Inc. acquired a new position in shares of Oak Valley Bancorp in the 1st quarter worth approximately $89,000. 30.86% of the stock is currently owned by institutional investors and hedge funds.

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.