Empowered Funds LLC Acquires 536 Shares of MVB Financial Corp. (NASDAQ:MVBF)

Empowered Funds LLC increased its holdings in MVB Financial Corp. (NASDAQ:MVBF) by 4.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 12,354 shares of the company’s stock after purchasing an additional 536 shares during the period. Empowered Funds LLC’s holdings in MVB Financial were worth $239,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of MVBF. Acadian Asset Management LLC lifted its holdings in MVB Financial by 20.0% during the 2nd quarter. Acadian Asset Management LLC now owns 9,764 shares of the company’s stock worth $181,000 after buying an additional 1,629 shares during the period. Squarepoint Ops LLC raised its position in shares of MVB Financial by 75.2% during the second quarter. Squarepoint Ops LLC now owns 16,748 shares of the company’s stock worth $312,000 after acquiring an additional 7,191 shares during the last quarter. Boston Partners lifted its stake in shares of MVB Financial by 11.5% in the first quarter. Boston Partners now owns 17,447 shares of the company’s stock worth $389,000 after acquiring an additional 1,793 shares during the period. Rhumbline Advisers boosted its holdings in MVB Financial by 3.2% in the second quarter. Rhumbline Advisers now owns 17,888 shares of the company’s stock valued at $333,000 after acquiring an additional 549 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in MVB Financial by 19.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 19,258 shares of the company’s stock valued at $373,000 after purchasing an additional 3,077 shares during the period. 52.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

MVB Financial Stock Performance

Shares of MVB Financial stock opened at $21.51 on Wednesday. The business has a 50-day moving average price of $20.20 and a two-hundred day moving average price of $20.03. MVB Financial Corp. has a 1-year low of $17.51 and a 1-year high of $25.24. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24. The company has a market cap of $278.34 million, a P/E ratio of 15.15 and a beta of 1.05.

MVB Financial (NASDAQ:MVBF) last released its earnings results on Wednesday, October 30th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.19). MVB Financial had a return on equity of 6.29% and a net margin of 8.49%. The business had revenue of $53.28 million for the quarter, compared to analyst estimates of $35.90 million. As a group, analysts anticipate that MVB Financial Corp. will post 1.08 EPS for the current year.

MVB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be paid a $0.17 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.68 annualized dividend and a dividend yield of 3.16%. MVB Financial’s dividend payout ratio is currently 47.89%.

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.