Mvb Financial (NASDAQ:MVBF) Posts Earnings Results

Mvb Financial (NASDAQ:MVBF) issued its quarterly earnings results on Tuesday. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.59, FiscalAI reports. The company had revenue of $51.07 million during the quarter, compared to analyst estimates of $36.94 million. Mvb Financial had a net margin of 13.98% and a return on equity of 2.54%.

Mvb Financial Price Performance

Shares of MVBF traded up $0.64 during mid-day trading on Tuesday, hitting $29.78. The company’s stock had a trading volume of 32,404 shares, compared to its average volume of 43,980. The firm has a 50-day moving average price of $27.96 and a 200 day moving average price of $27.03. The stock has a market capitalization of $382.67 million, a price-to-earnings ratio of 13.66 and a beta of 0.80. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.92 and a quick ratio of 0.92. Mvb Financial has a fifty-two week low of $22.14 and a fifty-two week high of $30.24.

Mvb Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.17 per share. The ex-dividend date was Monday, June 1st. This represents a $0.68 annualized dividend and a dividend yield of 2.3%. Mvb Financial’s dividend payout ratio (DPR) is 31.19%.

Institutional Trading of Mvb Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in MVBF. Russell Investments Group Ltd. boosted its holdings in Mvb Financial by 2,673.2% during the third quarter. Russell Investments Group Ltd. now owns 1,137 shares of the company’s stock worth $28,000 after buying an additional 1,096 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Mvb Financial in the second quarter valued at $32,000. Tower Research Capital LLC TRC increased its holdings in shares of Mvb Financial by 200.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,870 shares of the company’s stock valued at $42,000 after buying an additional 1,248 shares in the last quarter. Strs Ohio acquired a new stake in shares of Mvb Financial during the 1st quarter valued at $132,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Mvb Financial during the 3rd quarter valued at $202,000. 52.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on MVBF shares. TD Cowen lowered their price objective on shares of Mvb Financial from $35.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Wall Street Zen upgraded Mvb Financial from a “sell” rating to a “hold” rating in a research report on Monday, June 1st. Weiss Ratings raised Mvb Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, July 2nd. Raymond James Financial cut Mvb Financial from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 30th. Finally, Zacks Research downgraded Mvb Financial from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.25.

About Mvb Financial

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.