Mvb Financial (NASDAQ:MVBF) Given New $33.00 Price Target at Hovde Group

Mvb Financial (NASDAQ:MVBF) had its price objective increased by equities research analysts at Hovde Group from $31.00 to $33.00 in a note issued to investors on Friday. The firm presently has an “outperform” rating on the stock. Hovde Group’s price objective would indicate a potential upside of 18.07% from the company’s current price.

A number of other equities research analysts have also recently issued reports on MVBF. Zacks Research upgraded Mvb Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, January 2nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Mvb Financial in a report on Monday, December 29th. Wall Street Zen downgraded shares of Mvb Financial from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, Keefe, Bruyette & Woods upped their target price on Mvb Financial from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, November 10th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

Mvb Financial Stock Performance

Shares of Mvb Financial stock opened at $27.95 on Friday. The firm has a market capitalization of $355.52 million, a P/E ratio of 11.36 and a beta of 0.94. Mvb Financial has a 12 month low of $15.59 and a 12 month high of $29.59. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.23. The business’s fifty day simple moving average is $27.33 and its 200 day simple moving average is $25.84.

Mvb Financial (NASDAQ:MVBF) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The company had revenue of $39.08 million for the quarter, compared to the consensus estimate of $35.13 million. Mvb Financial had a net margin of 15.34% and a return on equity of 3.81%. As a group, analysts anticipate that Mvb Financial will post 1.4 EPS for the current year.

Hedge Funds Weigh In On Mvb Financial

Several institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC increased its position in shares of Mvb Financial by 75.8% during the second quarter. CWM LLC now owns 1,208 shares of the company’s stock valued at $27,000 after acquiring an additional 521 shares in the last quarter. Strs Ohio raised its stake in shares of Mvb Financial by 8.5% in the fourth quarter. Strs Ohio now owns 8,900 shares of the company’s stock worth $230,000 after buying an additional 700 shares during the period. Russell Investments Group Ltd. raised its stake in 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 acquiring an additional 1,096 shares during the period. Empowered Funds LLC lifted its stake in shares of Mvb Financial by 9.0% during the 1st quarter. Empowered Funds LLC now owns 14,144 shares of the company’s stock valued at $245,000 after buying an additional 1,165 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Mvb Financial by 200.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,870 shares of the company’s stock valued at $42,000 after acquiring an additional 1,248 shares in the last quarter. 52.72% of the stock is currently owned by institutional investors.

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.