Mvb Financial (NASDAQ:MVBF) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Mvb Financial (NASDAQ:MVBF) from a sell rating to a hold rating in a report issued on Saturday morning.

Other analysts have also issued reports about the stock. Zacks Research upgraded shares of Mvb Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, January 2nd. Hovde Group lifted their price objective on Mvb Financial from $31.00 to $33.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Mvb Financial in a research note on Monday, December 29th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Mvb Financial presently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

Mvb Financial Trading Up 0.2%

Shares of MVBF opened at $24.72 on Friday. Mvb Financial has a fifty-two week low of $15.59 and a fifty-two week high of $29.59. The firm has a market cap of $317.65 million, a price-to-earnings ratio of 12.00 and a beta of 0.88. The firm has a 50 day moving average price of $27.15 and a 200-day moving average price of $26.41. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.93 and a current ratio of 0.93.

Mvb Financial (NASDAQ:MVBF) last released its earnings results on Thursday, February 12th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. The company had revenue of $39.08 million for the quarter, compared to analyst estimates of $35.13 million. Mvb Financial had a net margin of 13.37% and a return on equity of 2.09%. As a group, equities research analysts forecast that Mvb Financial will post 1.4 earnings per share for the current year.

Mvb Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, March 15th. Shareholders of record on Sunday, March 1st were given 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 2.8%. Mvb Financial’s dividend payout ratio is presently 33.01%.

Hedge Funds Weigh In On Mvb Financial

A number of hedge funds have recently modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of Mvb Financial by 56.5% during the third quarter. Wellington Management Group LLP now owns 1,782,385 shares of the company’s stock valued at $44,667,000 after acquiring an additional 643,551 shares during the last quarter. Fourthstone LLC grew its stake in shares of Mvb Financial by 275.2% in the second quarter. Fourthstone LLC now owns 259,356 shares of the company’s stock worth $5,843,000 after purchasing an additional 190,223 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in Mvb Financial during the 3rd quarter valued at about $4,716,000. Kennedy Capital Management LLC purchased a new position in Mvb Financial during the 4th quarter valued at about $3,118,000. Finally, Diamond Hill Capital Management Inc. bought a new position in Mvb Financial during the 4th quarter valued at approximately $1,665,000. Hedge funds and other institutional investors own 52.72% of the company’s stock.

About Mvb Financial

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.