StockNews.com launched coverage on the shares of Oak Valley Bancorp (NASDAQ:OVLY – Get a rating) in a research note released Thursday to investors. The brokerage has set a “hold” rating on the shares of the financial services provider.
NASDAQ OVLY shares opened at $18.44 on Thursday. The stock has a market capitalization of $151.93 million, a PE ratio of 9.27 and a beta of 0.40. Oak Valley Bancorp has a 1-year minimum of $16.05 and a 1-year maximum of $20.55. The company’s 50-day moving average price is $18.29.
Oak Valley Bancorp (NASDAQ:OVLY – Get Rating) last announced its quarterly results on Friday, January 21. The financial services provider reported EPS of $0.42 for the quarter. The company had revenue of $12.85 million for the quarter. Oak Valley Bancorp had a return on equity of 12.00% and a net margin of 31.40%.
In other Oak Valley Bancorp news, Director James L. Gilbert sold 1,400 shares of Oak Valley Bancorp in a trade that took place on Wednesday, February 23. The stock was sold at an average price of $19.00, for a total value of $26,600.00. The sale was disclosed in a legal filing with the SEC, accessible via the SEC’s website. Insiders have acquired a total of 644 shares of the company worth $12,226 over the past ninety days. Insiders hold 18.58% of the shares of the company.
Hedge funds have recently changed their holdings in the company. CWM LLC purchased a new stake in Oak Valley Bancorp stock in Q4 for approximately $30,000. Royal Bank of Canada increased its position in Oak Valley Bancorp shares by 325.5% in the second quarter. Royal Bank of Canada now owns 2,472 shares of the financial services provider worth $45,000 after buying an additional 1,891 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Oak Valley Bancorp shares by 8.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 11,433 shares of the financial services provider worth $199,000 after buying 886 additional shares in the last quarter. Morgan Stanley increased its position in Oak Valley Bancorp shares by 65.2% in the second quarter. Morgan Stanley now owns 13,620 shares of the financial services provider worth $248,000 after buying 5,376 additional shares in the last quarter. Finally, Fourthstone LLC purchased a new stake in Oak Valley Bancorp stock in Q3 for approximately $390,000. Hedge funds and other institutional investors own 26.06% of the company’s shares.
About Oak Valley Bancorp (Get a rating)
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 cards, telephone banking, mobile banking, business loans, agricultural loans, small business loans and payroll services.
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