Oak Valley Bancp CA Up 8.23% To $26.38 After Earnings

Oak Valley Bancp CA (OVLY) said after close Thursday that it earned $1.12 per share in quarter one 2023. The company reported $21.2 million in revenue

In the same quarter a year ago, the company earned $0.29 per share on revenue of $12.1 million.

The stock is up 8.23% to $26.38 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Trading in the five days leading up to the report earned Oak Valley Bancp CA a Bearish Sentiment Rank from InvestorsObserver.

Oak Valley Bancp CA has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 94, putting Oak Valley Bancp CA in the top 25% of stocks. The firm was recently trading at a 52-week high of $28 on February 7, 2023 and set a 52-week low on June 15, 2022 at $16.52.

Oak Valley Bancorp is a bank holding company which operates through Oak Valley Community Bank (the Bank). The Bank offers a complement of business checking and savings accounts for its business customers. The Bank also offers commercial and real estate loans, as well as lines of credit. In addition, the bank provides other services for both individuals and businesses including online banking, remote deposit capture, mobile banking, merchant services, night depository, extended hours, wire transfer of funds, note collection, and automated teller machines in a national network. Its primary source of revenue is net interest income.