Mvb Financial (NASDAQ:MVBF) Announces Earnings Results, Beats Expectations By $0.06 EPS

Mvb Financial (NASDAQ:MVBF) released its quarterly earnings results on Wednesday. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06, FiscalAI reports. The business had revenue of $36.66 million for the quarter, compared to analyst estimates of $37.52 million. Mvb Financial had a return on equity of 2.09% and a net margin of 13.37%.

Mvb Financial Trading Down 2.8%

NASDAQ:MVBF traded down $0.74 during trading hours on Wednesday, hitting $25.81. 25,761 shares of the stock were exchanged, compared to its average volume of 39,764. The company’s 50 day moving average is $25.98 and its two-hundred day moving average is $26.58. Mvb Financial has a twelve month low of $16.60 and a twelve month high of $29.59. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $331.53 million, a P/E ratio of 12.53 and a beta of 0.90.

Mvb Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, March 15th. Shareholders of record on Sunday, March 1st were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.68 annualized dividend and a yield of 2.6%. Mvb Financial’s dividend payout ratio is currently 33.01%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MVBF. Wellington Management Group LLP lifted its holdings in Mvb Financial by 56.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,782,385 shares of the company’s stock worth $44,667,000 after buying an additional 643,551 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Mvb Financial in the 3rd quarter valued at $4,716,000. Kennedy Capital Management LLC acquired a new position in shares of Mvb Financial in the 4th quarter valued at $3,118,000. Ategra Capital Management LLC acquired a new position in shares of Mvb Financial in the 3rd quarter valued at $1,375,000. Finally, Marshall Wace LLP acquired a new position in shares of Mvb Financial in the 4th quarter valued at $1,336,000. Institutional investors and hedge funds own 52.72% of the company’s stock.

Analyst Upgrades and Downgrades

MVBF has been the topic of a number of research analyst reports. TD Cowen upgraded Mvb Financial to a “strong-buy” rating in a research report on Monday, April 13th. Zacks Research upgraded Mvb Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, January 2nd. Hovde Group increased their price target on Mvb Financial from $31.00 to $33.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Finally, Wall Street Zen lowered Mvb Financial from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price 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.