Mvb Financial (NASDAQ:MVBF) Announces Earnings Results

by · The Markets Daily

Mvb Financial (NASDAQ:MVBF – Get Free Report) announced its quarterly earnings results on Thursday. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01, Zacks reports. Mvb Financial had a return on equity of 3.81% and a net margin of 15.34%.

Mvb Financial Stock Performance

Mvb Financial stock traded down $0.37 during mid-day trading on Thursday, reaching $28.02. 50,856 shares of the company were exchanged, compared to its average volume of 50,543. The firm’s 50-day simple moving average is $27.32 and its two-hundred day simple moving average is $25.83. Mvb Financial has a twelve month low of $15.59 and a twelve month high of $29.59. The firm has a market cap of $356.47 million, a PE ratio of 11.39 and a beta of 0.94. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.96 and a current ratio of 0.96.

Mvb Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Monday, December 1st. Mvb Financial’s dividend payout ratio (DPR) is presently 27.64%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MVBF shares. Keefe, Bruyette & Woods boosted their target price on Mvb Financial from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, November 10th. Wall Street Zen cut shares of Mvb Financial from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings restated a “buy (b-)” rating on shares of Mvb Financial in a report on Monday, December 29th. Hovde Group increased their target price on shares of Mvb Financial from $27.00 to $31.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Finally, Zacks Research upgraded shares of Mvb Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, January 2nd. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.50.

Check Out Our Latest Research Report on MVBF

Hedge Funds Weigh In On Mvb Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. increased its stake in Mvb Financial by 2,673.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,137 shares of the company’s stock valued at $28,000 after buying an additional 1,096 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Mvb Financial in the second quarter valued at about $32,000. Tower Research Capital LLC TRC increased its stake in shares of Mvb Financial by 200.6% during the second quarter. Tower Research Capital LLC TRC now owns 1,870 shares of the company’s stock worth $42,000 after acquiring an additional 1,248 shares during the period. Strs Ohio purchased a new position in Mvb Financial during the first quarter worth about $132,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Mvb Financial in the third quarter valued at about $202,000. 52.72% of the stock is currently owned by hedge funds and other institutional investors.

About Mvb Financial

(Get Free Report)

MVB Financial Corp is a bank holding company based in Fairmont, West Virginia, serving individuals and businesses through its subsidiary, MVB Bank, Inc The company operates under a “Local First Banking” philosophy, emphasizing personalized service across its branch network. Its core business activities include deposit-taking, commercial lending, residential mortgage origination, and wealth management services.

On the deposit side, MVB Bank offers a range of products such as checking and savings accounts, money market accounts, and certificates of deposit.

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