Oak Valley Bancorp (NASDAQ:OVLY) Sees Large Decline in Short Interest

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Oak Valley Bancorp (NASDAQ:OVLY) was the target of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 70,000 shares, a decrease of 11.8% from the October 31st total of 79,400 shares. Based on an average daily volume of 6,900 shares, the days-to-cover ratio is presently 10.1 days. Currently, 1.2% of the shares of the stock are short sold.

NASDAQ OVLY traded up $0.14 during trading hours on Friday, hitting $18.73. The company’s stock had a trading volume of 830 shares, compared to its average volume of 8,141. The stock has a fifty day moving average of $17.11 and a 200 day moving average of $17.94. Oak Valley Bancorp has a twelve month low of $15.60 and a twelve month high of $19.94. The firm has a market capitalization of $152.06 million, a P/E ratio of 12.18 and a beta of 0.47.

Oak Valley Bancorp (NASDAQ:OVLY) last announced its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.40 earnings per share for the quarter. Oak Valley Bancorp had a net margin of 25.79% and a return on equity of 11.77%. The business had revenue of $11.72 million for the quarter.

In other news, COO Richard A. Mccarty sold 2,800 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $16.83, for a total transaction of $47,124.00. Following the sale, the chief operating officer now directly owns 34,743 shares of the company’s stock, valued at $584,724.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 17.36% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of OVLY. Bank of New York Mellon Corp lifted its position in shares of Oak Valley Bancorp by 3.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 22,130 shares of the financial services provider’s stock valued at $433,000 after acquiring an additional 794 shares during the period. Charles Schwab Investment Management Inc. raised its position in Oak Valley Bancorp by 8.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 16,895 shares of the financial services provider’s stock valued at $331,000 after acquiring an additional 1,267 shares in the last quarter. Northern Trust Corp raised its position in Oak Valley Bancorp by 4.0% during the second quarter. Northern Trust Corp now owns 67,109 shares of the financial services provider’s stock valued at $1,312,000 after acquiring an additional 2,560 shares in the last quarter. Vanguard Group Inc. raised its position in Oak Valley Bancorp by 1.7% during the second quarter. Vanguard Group Inc. now owns 174,282 shares of the financial services provider’s stock valued at $3,407,000 after acquiring an additional 2,904 shares in the last quarter. Finally, BlackRock Inc. raised its position in Oak Valley Bancorp by 0.9% during the second quarter. BlackRock Inc. now owns 316,199 shares of the financial services provider’s stock valued at $6,181,000 after acquiring an additional 2,942 shares in the last quarter. 20.63% of the stock is owned by institutional investors.

Oak Valley Bancorp Company Profile

Oak Valley Bancorp operates as the bank holding company for Oak Valley Community Bank that provides banking products and services to individuals and small and medium sized businesses in Oakdale, California, and surrounding areas. The company accepts various deposits products, such as checking and savings, money market, health savings, and individual retirement accounts, as well as certificates of deposit.

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