MVB Financial (NASDAQ:MVBF) Trading 3.8% Higher

MVB Financial Corp. (NASDAQ:MVBF) shares traded up 3.8% during trading on Monday . The stock traded as high as $21.13 and last traded at $20.96. 21,405 shares were traded during mid-day trading, a decline of 19% from the average session volume of 26,422 shares. The stock had previously closed at $20.20.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lifted their price target on MVB Financial from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st.

MVB Financial Stock Performance

The company’s 50-day simple moving average is $21.19 and its 200 day simple moving average is $20.08. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.25. The stock has a market cap of $270.09 million, a P/E ratio of 11.21 and a beta of 1.06.

MVB Financial (NASDAQ:MVBF) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.09). The company had revenue of $53.27 million during the quarter, compared to the consensus estimate of $38.20 million. MVB Financial had a return on equity of 7.08% and a net margin of 9.28%. As a group, sell-side analysts expect that MVB Financial Corp. will post 1.5 EPS for the current fiscal year.

MVB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.68 dividend on an annualized basis and a yield of 3.24%. MVB Financial’s payout ratio is 36.36%.

Institutional Investors Weigh In On MVB Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of MVBF. Wellington Management Group LLP raised its holdings in MVB Financial by 3.8% during the 4th quarter. Wellington Management Group LLP now owns 1,353,624 shares of the company’s stock valued at $30,538,000 after acquiring an additional 49,007 shares during the period. Quadrature Capital Ltd purchased a new position in shares of MVB Financial during the 4th quarter valued at $231,000. BNP Paribas Financial Markets grew its position in shares of MVB Financial by 515.9% during the 1st quarter. BNP Paribas Financial Markets now owns 20,195 shares of the company’s stock valued at $451,000 after purchasing an additional 16,916 shares in the last quarter. Sippican Capital Advisors purchased a new position in shares of MVB Financial during the 1st quarter valued at $308,000. Finally, Empowered Funds LLC purchased a new position in shares of MVB Financial during the 1st quarter valued at $248,000. Institutional investors own 52.72% of the company’s stock.

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.