Mvb Financial (NASDAQ:MVBF) Price Target Cut to $32.00 by Analysts at TD Cowen

Mvb Financial (NASDAQ:MVBF) had its target price cut by TD Cowen from $35.00 to $32.00 in a report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also commented on MVBF. Hovde Group boosted their price target on shares of Mvb Financial from $31.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Zacks Research raised shares of Mvb Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, January 2nd. Raymond James Financial downgraded shares of Mvb Financial from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, Wall Street Zen downgraded shares of Mvb Financial from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Four equities 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, Mvb Financial has a consensus rating of “Moderate Buy” and an average price target of $31.25.

Mvb Financial Price Performance

NASDAQ:MVBF traded down $0.45 on Friday, reaching $25.68. The stock had a trading volume of 95,017 shares, compared to its average volume of 27,477. The company has a market capitalization of $329.99 million, a P/E ratio of 11.78 and a beta of 0.82. Mvb Financial has a 1-year low of $17.13 and a 1-year high of $29.59. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.22. The stock has a fifty day moving average price of $25.91 and a 200-day moving average price of $26.58.

Mvb Financial (NASDAQ:MVBF) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The firm had revenue of $36.66 million for the quarter, compared to analyst estimates of $37.72 million. Mvb Financial had a net margin of 13.98% and a return on equity of 2.57%. Research analysts forecast that Mvb Financial will post 1.8 EPS for the current year.

Mvb Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, March 15th. Shareholders of record on Sunday, March 1st were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.6%. Mvb Financial’s payout ratio is currently 33.01%.

Institutional Investors Weigh In On Mvb Financial

Several institutional investors have recently modified their holdings of MVBF. Russell Investments Group Ltd. grew its position in shares of Mvb Financial by 2,673.2% during the 3rd 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 during the period. Raymond James Financial Inc. acquired a new stake in shares of Mvb Financial during the 2nd quarter worth approximately $32,000. Tower Research Capital LLC TRC grew its position in shares of Mvb Financial by 200.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,870 shares of the company’s stock worth $42,000 after buying an additional 1,248 shares during the period. CWM LLC grew its position in shares of Mvb Financial by 68.6% during the 3rd quarter. CWM LLC now owns 2,037 shares of the company’s stock worth $51,000 after buying an additional 829 shares during the period. Finally, Versant Capital Management Inc grew its position in shares of Mvb Financial by 317.6% during the 3rd quarter. Versant Capital Management Inc now owns 2,063 shares of the company’s stock worth $52,000 after buying an additional 1,569 shares during the period. Institutional investors and hedge funds own 52.72% of the company’s stock.

Mvb Financial Company Profile

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.