Insider Buying: MVB Financial Corp. (NASDAQ:MVBF) Insider Acquires 5,700 Shares of Stock

MVB Financial Corp. (NASDAQ:MVBF) insider Michael Louis Giorgio acquired 5,700 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost of $17.60 per share, for a total transaction of $100,320.00. Following the acquisition, the insider now directly owns 7,504 shares in the company, valued at $132,070.40. This represents a 315.96 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

MVB Financial Price Performance

NASDAQ MVBF opened at $17.00 on Friday. MVB Financial Corp. has a 1-year low of $16.81 and a 1-year high of $25.24. The company has a market capitalization of $220.00 million, a price-to-earnings ratio of 11.11 and a beta of 1.03. The stock’s 50 day moving average is $19.09 and its two-hundred day moving average is $20.00. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24.

MVB Financial (NASDAQ:MVBF) last announced its earnings results on Thursday, February 13th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.39. The business had revenue of $46.18 million during the quarter, compared to analysts’ expectations of $33.60 million. MVB Financial had a net margin of 8.78% and a return on equity of 6.76%. Equities analysts forecast that MVB Financial Corp. will post 1.4 earnings per share for the current fiscal year.

MVB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend was Friday, February 28th. MVB Financial’s payout ratio is currently 44.44%.

Institutional Investors Weigh In On MVB Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of MVBF. Empowered Funds LLC grew its holdings in shares of MVB Financial by 4.5% during the third quarter. Empowered Funds LLC now owns 12,354 shares of the company’s stock worth $239,000 after purchasing an additional 536 shares during the last quarter. Two Sigma Advisers LP grew its holdings in MVB Financial by 11.6% during the 4th quarter. Two Sigma Advisers LP now owns 13,500 shares of the company’s stock worth $279,000 after acquiring an additional 1,400 shares during the last quarter. Wells Fargo & Company MN increased its position in MVB Financial by 20.3% in the 4th quarter. Wells Fargo & Company MN now owns 8,705 shares of the company’s stock valued at $180,000 after acquiring an additional 1,467 shares in the last quarter. Northern Trust Corp raised its stake in shares of MVB Financial by 3.6% in the fourth quarter. Northern Trust Corp now owns 99,258 shares of the company’s stock worth $2,055,000 after acquiring an additional 3,409 shares during the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of MVB Financial by 8.4% during the fourth quarter. Prudential Financial Inc. now owns 54,315 shares of the company’s stock worth $1,124,000 after purchasing an additional 4,200 shares in the last quarter. 52.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods decreased their price target on shares of MVB Financial from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd.

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.