Oak Valley Bancorp (NASDAQ:OVLY) Announces Quarterly Earnings Results

Oak Valley Bancorp (NASDAQ:OVLY) posted its quarterly earnings results on Wednesday. The financial services provider reported $0.61 EPS for the quarter, Zacks reports. The company had revenue of $20.61 million during the quarter. Oak Valley Bancorp had a net margin of 24.80% and a return on equity of 11.49%.

Oak Valley Bancorp Trading Up 1.2%

Shares of OVLY traded up $0.40 during trading hours on Friday, reaching $32.66. 3,980 shares of the company traded hands, compared to its average volume of 33,438. Oak Valley Bancorp has a 12-month low of $25.41 and a 12-month high of $35.97. The firm has a market cap of $274.63 million, a price-to-earnings ratio of 11.60 and a beta of 0.21. The stock’s fifty day moving average price is $33.63 and its 200 day moving average price is $32.98.

Oak Valley Bancorp Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be given a $0.375 dividend. This represents a yield of 228.0%. The ex-dividend date of this dividend is Monday, August 3rd. Oak Valley Bancorp’s dividend payout ratio is 26.04%.

Hedge Funds Weigh In On Oak Valley Bancorp

Several hedge funds have recently modified their holdings of the stock. Kestra Advisory Services LLC acquired a new position in shares of Oak Valley Bancorp in the fourth quarter valued at about $42,000. BNP Paribas Financial Markets raised its holdings in Oak Valley Bancorp by 123.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,708 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 1,496 shares during the period. JPMorgan Chase & Co. increased its holdings in Oak Valley Bancorp by 23.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,997 shares of the financial services provider’s stock worth $169,000 after acquiring an additional 1,145 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Oak Valley Bancorp during the 2nd quarter worth about $208,000. Finally, Rhumbline Advisers boosted its stake in shares of Oak Valley Bancorp by 59.4% in the second quarter. Rhumbline Advisers now owns 10,401 shares of the financial services provider’s stock worth $283,000 after acquiring an additional 3,875 shares during the last quarter. Institutional investors and hedge funds own 30.86% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Oak Valley Bancorp in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Oak Valley Bancorp has an average rating of “Buy”.

Oak Valley Bancorp Company Profile

Oak Valley Bancorp is the bank holding company for Oak Valley Community Bank, a California-chartered commercial bank headquartered in Lodi, California. Through its subsidiary, the company offers a full suite of banking services tailored to individuals, businesses, agricultural enterprises and nonprofit organizations. Its product portfolio includes checking and savings accounts, money market instruments, certificates of deposit and individual retirement accounts, alongside digital banking tools such as mobile and online banking platforms.

On the lending side, Oak Valley Bancorp provides commercial real estate and construction loans, agricultural and farm real estate financing, equipment leases, SBA-initiated programs and lines of credit.