Mvb Financial (NASDAQ:MVBF) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Mvb Financial (NASDAQ:MVBF) issued its quarterly earnings data on Thursday. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01, Zacks reports. Mvb Financial had a net margin of 15.34% and a return on equity of 3.81%. The business had revenue of $39.08 million during the quarter, compared to analysts’ expectations of $35.13 million.

Mvb Financial Stock Down 1.3%

NASDAQ:MVBF traded down $0.36 on Friday, hitting $27.59. The stock had a trading volume of 4,967 shares, compared to its average volume of 48,866. Mvb Financial has a 1 year low of $15.59 and a 1 year high of $29.59. The firm’s fifty day simple moving average is $27.33 and its two-hundred day simple moving average is $25.84. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $350.92 million, a P/E ratio of 11.21 and a beta of 0.94.

Mvb Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Monday, December 1st. Mvb Financial’s dividend payout ratio is presently 27.64%.

Institutional Investors Weigh In On Mvb Financial

A number of hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its position in Mvb Financial by 2,673.2% in the third 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. Raymond James Financial Inc. purchased a new position in Mvb Financial in the second quarter valued at approximately $32,000. Tower Research Capital LLC TRC grew its holdings in Mvb Financial by 200.6% during the second quarter. Tower Research Capital LLC TRC now owns 1,870 shares of the company’s stock valued at $42,000 after purchasing an additional 1,248 shares during the period. Strs Ohio bought a new position in Mvb Financial during the first quarter valued at $132,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Mvb Financial in the third quarter worth $202,000. 52.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wall Street Zen downgraded shares of Mvb Financial from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Mvb Financial in a research note on Monday, December 29th. Hovde Group boosted their price objective on shares of Mvb Financial from $31.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday. Zacks Research upgraded Mvb Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, January 2nd. Finally, Keefe, Bruyette & Woods raised their price objective on Mvb Financial from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, November 10th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.00.

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.