Mvb Financial (NASDAQ:MVBF) Stock Price Up 2.5% – Here’s What Happened

by · The Markets Daily

Shares of Mvb Financial Corp. (NASDAQ:MVBF – Get Free Report) traded up 2.5% on Thursday. The stock traded as high as $30.00 and last traded at $29.79. Approximately 96,321 shares changed hands during trading, an increase of 115% from the average daily volume of 44,724 shares. The stock had previously closed at $29.06.

Analyst Ratings Changes

Several equities research analysts have issued reports on MVBF shares. Weiss Ratings restated a “buy (b)” rating on shares of Mvb Financial in a report on Tuesday. Keefe, Bruyette & Woods lifted their price objective on Mvb Financial from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Zacks Research upgraded Mvb Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, September 7th. Finally, TD Cowen upped their price target on shares of Mvb Financial from $32.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Mvb Financial has an average rating of “Moderate Buy” and a consensus target price of $32.75.

Check Out Our Latest Stock Analysis on MVBF

Mvb Financial Stock Up 2.5%

The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $386.38 million, a P/E ratio of 10.06 and a beta of 0.87. The firm’s 50 day moving average price is $30.41 and its two-hundred day moving average price is $28.09.

Mvb Financial (NASDAQ:MVBF – Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.59. Mvb Financial had a net margin of 17.53% and a return on equity of 2.86%. The business had revenue of $50.73 million for the quarter, compared to analyst estimates of $36.94 million. Equities research analysts forecast that Mvb Financial Corp. will post 1.63 EPS for the current year.

Mvb Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.3%. The ex-dividend date was Tuesday, September 1st. Mvb Financial’s payout ratio is presently 22.97%.

Hedge Funds Weigh In On Mvb Financial

Several hedge funds have recently modified their holdings of MVBF. BlackRock Inc. acquired a new stake in shares of Mvb Financial in the second quarter valued at about $30,152,000. Dimensional Fund Advisors LP boosted its position in Mvb Financial by 4.0% during the first quarter. Dimensional Fund Advisors LP now owns 506,608 shares of the company’s stock valued at $12,580,000 after purchasing an additional 19,650 shares during the last quarter. Basswood Capital Management L.L.C. bought a new position in Mvb Financial in the second quarter valued at approximately $7,477,000. Diamond Hill Capital Management LLC Investment Advisor bought a new position in Mvb Financial in the second quarter valued at approximately $3,253,000. Finally, Pure Financial Advisors LLC bought a new position in Mvb Financial in the second quarter valued at approximately $2,461,000. Institutional investors own 52.72% of the company’s stock.

Mvb Financial Company Profile

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