Oak Valley Bancorp director Gary Strong buys $27,170 in stock

Gary Strong, a director at Oak Valley Bancorp (NASDAQ:OVLY), recently acquired 1,000 shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The purchase was made on January 8 at a price of $27.17 per share, resulting in a total transaction value of $27,170. Following this acquisition, Strong owns a total of 11,842 shares in the company. According to InvestingPro analysis, the stock currently appears undervalued, with a P/E ratio of 8.92 and strong financial health metrics. Oak Valley Bancorp is headquartered in Oakdale, California, and operates within the state commercial banking sector. The $223 million market cap company has maintained dividend payments for 11 consecutive years, as noted in InvestingPro analysis, which features 5+ additional insights. Investors should note that the company's next earnings report is scheduled for January 17.

In other recent news, Oak Valley Community Bank has announced the appointment of David Skitarelic as Vice President of Commercial Banking Officer. Skitarelic, who possesses a 30-year tenure in commercial banking within the Sacramento region, will operate from the bank's Roseville branch. His role will primarily focus on commercial lending and business development in the Greater Sacramento area.

Gary Stephens, EVP Commercial Banking Group, expressed confidence in Skitarelic's ability to contribute significantly to the team, due to his established community relationships. Skitarelic's appointment aligns with Oak Valley Community Bank's strategic growth in commercial banking operations and its commitment to serving local communities. These are recent developments as part of the bank's ongoing expansion efforts. The information is based on a press release statement from Oak Valley Community Bank.

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