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

Mvb Financial Corp. (NASDAQ:MVBF) shares rose 2.5% during mid-day trading on Thursday. The company traded as high as $30.00 and last traded at $29.79. 96,321 shares were traded during mid-day trading, an increase of 115% from the average session volume of 44,724 shares. The stock had previously closed at $29.06.

Analyst Ratings Changes

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

Mvb Financial Price Performance

The stock has a fifty day simple moving average of $30.43 and a 200-day simple moving average of $28.11. The company has a market capitalization of $395.01 million, a PE ratio of 10.29 and a beta of 0.87. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16.

Mvb Financial (NASDAQ:MVBF) last issued its earnings results on Tuesday, July 28th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.59. The business had revenue of $50.73 million for the quarter, compared to analyst estimates of $36.94 million. Mvb Financial had a return on equity of 2.86% and a net margin of 17.53%. Equities analysts anticipate that Mvb Financial Corp. will post 1.63 earnings per share for the current year.

Mvb Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.2%. The ex-dividend date was Tuesday, September 1st. Mvb Financial’s dividend payout ratio (DPR) is currently 22.97%.

Hedge Funds Weigh In On Mvb Financial

Hedge funds have recently made changes to their positions in the company. Legal & General Group Plc purchased a new position in Mvb Financial during the 2nd quarter worth approximately $35,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Mvb Financial in the second quarter valued at approximately $48,000. OneDigital Investment Advisors LLC purchased a new position in shares of Mvb Financial during the second quarter worth approximately $236,000. Bank of America Corp DE purchased a new position in shares of Mvb Financial during the second quarter worth approximately $270,000. Finally, Sei Investments Co. acquired a new position in shares of Mvb Financial in the 1st quarter valued at $272,000. Hedge funds and other institutional investors own 52.72% of the company’s stock.

Mvb Financial Company Profile