MVB Financial Corp. (NASDAQ:MVBF) Declares Quarterly Dividend of $0.17

MVB Financial Corp. (NASDAQ:MVBF) declared a quarterly dividend on Friday, November 22nd,Wall Street Journal reports. Stockholders of record on Sunday, December 1st will be paid a dividend of 0.17 per share on Sunday, December 15th. This represents a $0.68 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Friday, November 29th.

MVB Financial has increased its dividend payment by an average of 23.6% per year over the last three years. MVB Financial has a payout ratio of 39.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect MVB Financial to earn $1.70 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 40.0%.

MVB Financial Stock Performance

NASDAQ:MVBF traded up $0.58 during mid-day trading on Friday, hitting $22.30. The stock had a trading volume of 21,936 shares, compared to its average volume of 27,075. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24. The company has a 50 day simple moving average of $20.11 and a 200-day simple moving average of $19.94. The stock has a market capitalization of $288.56 million, a price-to-earnings ratio of 15.29 and a beta of 1.05. MVB Financial has a 52 week low of $17.51 and a 52 week high of $25.24.

MVB Financial (NASDAQ:MVBF) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.19). The business had revenue of $53.28 million for the quarter, compared to analyst estimates of $35.90 million. MVB Financial had a net margin of 8.49% and a return on equity of 6.29%. On average, research analysts expect that MVB Financial will post 1.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. upped their target price on MVB Financial from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st.

MVB Financial Company Profile

MVB Financial Corp. operates as bank holding company for MVB Bank, Inc that provides financial services to individuals and corporate clients. The company operates through three segments: CoRe Banking, Mortgage Banking, and The Financial Holding Company. It offers various demand deposit accounts, savings accounts, money market accounts, and certificates of deposit; and commercial, consumer, and real estate mortgage loans, as well as lines of credit.