MVB Financial (NASDAQ:MVBF) Issues Earnings Results, Misses Estimates By $0.04 EPS

Posted by Micah Haroldson on May 2nd, 2024

MVB Financial (NASDAQ:MVBF – Get Free Report) announced its quarterly earnings data on Monday. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04), Yahoo Finance reports. MVB Financial had a net margin of 11.10% and a return on equity of 8.76%. The company had revenue of $57.86 million for the quarter, compared to analysts’ expectations of $37.47 million.

MVB Financial Trading Up 2.3 %

Shares of NASDAQ:MVBF opened at $18.39 on Thursday. MVB Financial has a 1 year low of $16.43 and a 1 year high of $27.23. The stock’s fifty day moving average price is $20.70 and its 200-day moving average price is $21.17. The company has a market cap of $236.13 million, a P/E ratio of 9.83 and a beta of 1.04. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.94.

MVB Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MVBF. JPMorgan Chase & Co. lowered their price target on MVB Financial from $28.00 to $25.00 and set an “overweight” rating for the company in a research report on Wednesday. Keefe, Bruyette & Woods decreased their target price on shares of MVB Financial from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Friday, March 1st.

Read Our Latest Stock Report on MVB Financial

MVB Financial Company Profile

(Get Free Report)

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.