The stock of Oak Valley Bancorp (NASDAQ:OVLY) gapped up by $0.05 today and has $14.95 target or 45.00% above today’s $10.31 share price. The 7 months technical chart setup indicates low risk for the $83.39M company. The gap was reported on Oct, 4 by Barchart.com. If the $14.95 price target is reached, the company will be worth $37.53M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 0.59% or $0.06 on October 3, hitting $10.31. About 11,098 shares traded hands or 351.32% up from the average. Oak Valley Bancorp (NASDAQ:OVLY) has risen 11.75% since March 1, 2016 and is uptrending. It has underperformed by 0.47% the S&P500.
Analysts await Oak Valley Bancorp (NASDAQ:OVLY) to report earnings on October, 19.
According to Zacks Investment Research, “Oak Valley Bancorp operates as the holding company for Oak Valley Community Bank, which provides various banking products and services in California. The companys deposit products include demand, negotiable order of withdrawal, money market, savings, and time deposits, as well as certificates of deposit and individual retirement accounts. It also offers a portfolio of loans comprising commercial real estate loans, commercial loans, real estate construction loans, agriculture, and residential real estate and consumer loans. The company is based in Oakdale, California.”
Insitutional Activity: The institutional sentiment decreased to 1 in 2016 Q2. Its down 4.00, from 5 in 2016Q1. The ratio fall, as 2 funds sold all Oak Valley Bancorp shares owned while 1 reduced positions. 1 funds bought stakes while 2 increased positions. They now own 632,523 shares or 49.62% less from 1.26 million shares in 2016Q1.
Maltese Mngmt Ltd Liability has 0.08% invested in the company for 63,200 shares. Banc Funds Ltd Company holds 0.26% or 454,589 shares in its portfolio. Wells Fargo Mn owns 15,770 shares or 0% of their US portfolio. Tower Ltd Liability Company (Trc) accumulated 0% or 435 shares. Natl Bank Of America Corporation De has invested 0% of its portfolio in Oak Valley Bancorp (NASDAQ:OVLY). Moreover, Federated Pa has 0% invested in Oak Valley Bancorp (NASDAQ:OVLY) for 463 shares. Acadian Asset Management Ltd Liability Corp reported 35 shares or 0% of all its holdings. Royal National Bank & Trust Of Canada holds 0% of its portfolio in Oak Valley Bancorp (NASDAQ:OVLY) for 2,300 shares. Mraz Amerine And Associate accumulated 26,125 shares or 0.09% of the stock. Vanguard Grp Inc has invested 0% of its portfolio in Oak Valley Bancorp (NASDAQ:OVLY). Blackrock Fund Advsrs accumulated 0% or 1,071 shares. Blackrock Investment Mgmt Limited Company, a New Jersey-based fund reported 1,186 shares.
Insider Transactions: Since April 25, 2016, the stock had 7 insider purchases, and 8 selling transactions for $37,182 net activity. $32,900 worth of Oak Valley Bancorp (NASDAQ:OVLY) was bought by Barton Don on Monday, April 25. Martin Ronald C. sold $28,446 worth of stock or 2,800 shares. $17,136 worth of shares were bought by HOLDER H RANDOLPH JR on Tuesday, May 3. Burth Wendy A had sold 2,250 shares worth $21,758. Harvey David S had sold 11,000 shares worth $103,400. Pelton Janet S bought $48,975 worth of stock. The insider Gilbert James L bought 343 shares worth $3,456.
More recent Oak Valley Bancorp (NASDAQ:OVLY) news were published by: Reuters.com which released: “BRIEF-Oak Valley Bancorp Q2 earnings per share $0.24” on July 20, 2016. Also Streetinsider.com published the news titled: “Oak Valley Bancorp (OVLY) Announces Completion of $7.3M Mother Lode Bank …” on December 24, 2015. Finance.Yahoo.com‘s news article titled: “Oak Valley Community Bank Announces New Hire and Promotion” with publication date: September 08, 2016 was also an interesting one.
OVLY Company Profile
Oak Valley Bancorp, incorporated on April 1, 2008, is a bank holding company. The Firm operates through its subsidiary, Oak Valley Community Bank (the Bank). The Bank operates in two primary business divisions: Retail Banking and Commercial Banking. The Retail Banking segment offers a range of checking and savings accounts, including Negotiable Order of Withdrawal (NOW) accounts, money market accounts, overdraft protection, health savings accounts, certificates of deposit and Individual Retirement Accounts (IRA). The Retail Banking segment also offers real estate and home equity financing, as well as consumer, automobile and home improvement loans. The Commercial Banking segment offers a range of deposit and lending services to business customers. The Commercial Banking segment also offers various commercial loans for business, professional or agricultural needs. The commercial loans include loans for short-term working capital, operating lines of credit, equipment purchases, leasehold improvements, construction and commercial real estate acquisitions or refinancing. The Commercial Banking segment offers services to clients located in San Joaquin, Stanislaus, Tuolumne, Inyo and Mono Counties of California. The Bank offers business checking and savings accounts for its business customers.
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