Mvb Financial (NASDAQ:MVBF) Upgraded at Wall Street Zen

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

MVBF has been the subject of a number of other research reports. Raymond James Financial decreased their target price on shares of Mvb Financial from $24.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods reduced their price objective on Mvb Financial from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd.

Mvb Financial Stock Up 2.6%

Shares of NASDAQ MVBF opened at $20.99 on Friday. Mvb Financial has a 12 month low of $15.59 and a 12 month high of $25.24. The firm has a market capitalization of $272.66 million, a PE ratio of 14.38 and a beta of 0.96. The firm has a fifty day simple moving average of $18.56 and a two-hundred day simple moving average of $18.81. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24.

Mvb Financial (NASDAQ:MVBF) last announced its earnings results on Wednesday, April 30th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.06. The firm had revenue of $33.68 million during the quarter, compared to analyst estimates of $34.48 million. Mvb Financial had a return on equity of 6.31% and a net margin of 8.68%. Equities analysts expect that Mvb Financial will post 1.4 earnings per share for the current year.

Mvb Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend was Friday, May 30th. Mvb Financial’s payout ratio is 46.58%.

Insiders Place Their Bets

In related news, CEO Larry F. Mazza sold 6,962 shares of Mvb Financial stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $17.49, for a total value of $121,765.38. Following the completion of the sale, the chief executive officer now owns 626,358 shares of the company’s stock, valued at $10,955,001.42. The trade was a 1.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph Ryan Rodriguez acquired 4,125 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The stock was purchased at an average cost of $18.00 per share, with a total value of $74,250.00. Following the acquisition, the insider now directly owns 4,125 shares of the company’s stock, valued at $74,250. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 11.66% of the company’s stock.

Institutional Investors Weigh In On Mvb Financial

A number of large investors have recently made changes to their positions in MVBF. Empowered Funds LLC grew its stake in shares of Mvb Financial by 5.1% during the 4th quarter. Empowered Funds LLC now owns 12,979 shares of the company’s stock valued at $269,000 after purchasing an additional 625 shares during the period. Bank of New York Mellon Corp grew its position in Mvb Financial by 29.8% during the fourth quarter. Bank of New York Mellon Corp now owns 81,969 shares of the company’s stock valued at $1,697,000 after buying an additional 18,825 shares during the period. Banco Santander S.A. bought a new stake in Mvb Financial during the fourth quarter valued at approximately $7,558,000. Prudential Financial Inc. increased its stake in shares of Mvb Financial by 8.4% in the 4th quarter. Prudential Financial Inc. now owns 54,315 shares of the company’s stock worth $1,124,000 after purchasing an additional 4,200 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Mvb Financial by 39.9% in the 4th quarter. JPMorgan Chase & Co. now owns 64,244 shares of the company’s stock worth $1,330,000 after purchasing an additional 18,318 shares in the last quarter. 52.72% of the stock is currently owned by institutional investors.

About Mvb Financial

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.