MVB Financial (NASDAQ:MVBF) Price Target Cut to $23.00 by Analysts at Hovde Group

MVB Financial (NASDAQ:MVBF) had its price objective decreased by Hovde Group from $27.00 to $23.00 in a report issued on Wednesday, MarketBeat Ratings reports. Hovde Group currently has an outperform rating on the stock.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. decreased their price objective on MVB Financial from $28.00 to $25.00 and set an overweight rating on the stock in a report on Wednesday, May 1st. Keefe, Bruyette & Woods decreased their price objective on MVB Financial from $26.00 to $25.00 and set an outperform rating on the stock in a report on Friday, March 1st. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, MVB Financial presently has a consensus rating of Buy and an average target price of $25.75.

MVB Financial Trading Down 1.4 %

MVBF opened at $18.37 on Wednesday. The stock has a market capitalization of $235.87 million, a P/E ratio of 9.82 and a beta of 1.04. MVB Financial has a 12 month low of $16.50 and a 12 month high of $27.23. The firm’s fifty day simple moving average is $20.50 and its 200 day simple moving average is $21.07. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.25.

MVB Financial (NASDAQ:MVBF) last released its earnings results on Monday, April 29th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.04). MVB Financial had a net margin of 11.10% and a return on equity of 8.76%. The firm had revenue of $57.86 million during the quarter, compared to the consensus estimate of $37.47 million. As a group, research analysts anticipate that MVB Financial will post 1.64 EPS for the current fiscal year.

MVB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.70%. The ex-dividend date was Thursday, February 29th. MVB Financial’s dividend payout ratio (DPR) is currently 36.36%.

Institutional Trading of MVB Financial

Several large investors have recently modified their holdings of the stock. SG Americas Securities LLC grew its holdings in shares of MVB Financial by 23.9% during the 4th quarter. SG Americas Securities LLC now owns 5,957 shares of the company’s stock worth $134,000 after purchasing an additional 1,151 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of MVB Financial by 101.0% during the 3rd quarter. New York State Common Retirement Fund now owns 4,795 shares of the company’s stock worth $108,000 after buying an additional 2,409 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of MVB Financial by 4.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 84,867 shares of the company’s stock worth $1,916,000 after buying an additional 3,261 shares during the last quarter. Cerity Partners LLC lifted its position in shares of MVB Financial by 11.7% during the 4th quarter. Cerity Partners LLC now owns 31,216 shares of the company’s stock worth $704,000 after buying an additional 3,282 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of MVB Financial by 8.0% during the 1st quarter. Russell Investments Group Ltd. now owns 80,552 shares of the company’s stock worth $1,797,000 after buying an additional 5,973 shares during the last quarter. 52.72% of the stock is owned by institutional investors and hedge funds.

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.