MVB Financial (NASDAQ:MVBF) Releases Earnings Results, Misses Expectations By $0.04 EPS

Posted by Stacy Sanders on Apr 30th, 2024

MVB Financial (NASDAQ:MVBF – Get Free Report) issued its quarterly earnings results on Monday. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.04), Yahoo Finance reports. The company had revenue of $57.86 million for the quarter, compared to the consensus estimate of $37.47 million. MVB Financial had a net margin of 14.91% and a return on equity of 8.12%.

MVB Financial Trading Down 1.7 %

Shares of MVBF stock opened at $19.31 on Tuesday. The stock has a market capitalization of $247.94 million, a P/E ratio of 8.05 and a beta of 1.00. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.25. The firm’s 50 day moving average is $20.87 and its 200 day moving average is $21.22. MVB Financial has a 12-month low of $16.43 and a 12-month high of $27.23.

MVB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.68 dividend on an annualized basis and a yield of 3.52%. MVB Financial’s dividend payout ratio (DPR) is 28.33%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of MVB Financial from $30.00 to $28.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Keefe, Bruyette & Woods reduced their target price on MVB Financial from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Friday, March 1st.

Check Out Our Latest Research Report on MVB Financial

About MVB Financial

(Get Free Report)

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.