MVB Financial (NASDAQ:MVBF) Price Target Cut to $20.00 by Analysts at Raymond James

MVB Financial (NASDAQ:MVBF) had its price objective reduced by Raymond James from $24.00 to $20.00 in a research note published on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

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

MVB Financial Trading Up 0.2 %

NASDAQ:MVBF opened at $17.29 on Wednesday. The company has a market cap of $223.89 million, a P/E ratio of 11.30 and a beta of 1.03. MVB Financial has a 1 year low of $16.81 and a 1 year high of $25.24. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.94. The stock’s fifty day moving average price is $18.61 and its two-hundred day moving average price is $19.74.

MVB Financial (NASDAQ:MVBF) last issued its earnings results on Thursday, February 13th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.33 by $0.39. MVB Financial had a return on equity of 6.76% and a net margin of 8.78%. The business had revenue of $46.18 million during the quarter, compared to the consensus estimate of $33.60 million. As a group, analysts expect that MVB Financial will post 1.4 EPS for the current year.

MVB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend was Friday, February 28th. MVB Financial’s payout ratio is 44.44%.

Insider Buying and Selling

In related news, insider Michael Louis Giorgio bought 5,700 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average cost of $17.60 per share, for a total transaction of $100,320.00. Following the completion of the transaction, the insider now owns 7,504 shares of the company’s stock, valued at approximately $132,070.40. The trade was a 315.96 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have purchased 7,400 shares of company stock worth $129,574. Insiders own 11.10% of the company’s stock.

Hedge Funds Weigh In On MVB Financial

Large investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new position in MVB Financial during the fourth quarter valued at approximately $111,000. Wells Fargo & Company MN boosted its stake in shares of 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 purchasing an additional 1,467 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of MVB Financial by 5.1% during the 4th quarter. Empowered Funds LLC now owns 12,979 shares of the company’s stock valued at $269,000 after purchasing an additional 625 shares during the last quarter. Deutsche Bank AG purchased a new position in MVB Financial in the 4th quarter worth $272,000. Finally, Two Sigma Advisers LP boosted its position in MVB Financial by 11.6% during the fourth quarter. Two Sigma Advisers LP now owns 13,500 shares of the company’s stock valued at $279,000 after buying an additional 1,400 shares during the period. 52.72% of the stock is owned by hedge funds and other institutional investors.

About MVB Financial

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.