Insider Buying: MVB Financial Corp. (NASDAQ:MVBF) Insider Buys 5,700 Shares of Stock

MVB Financial Corp. (NASDAQ:MVBF) insider Michael Louis Giorgio purchased 5,700 shares of MVB Financial stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average cost of $17.60 per share, with a total value of $100,320.00. Following the acquisition, the insider now directly owns 7,504 shares in the company, valued at $132,070.40. This trade represents a 315.96 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

MVB Financial Stock Down 2.6 %

MVB Financial stock traded down $0.46 during midday trading on Thursday, reaching $17.00. The company’s stock had a trading volume of 17,717 shares, compared to its average volume of 33,730. MVB Financial Corp. has a fifty-two week low of $16.81 and a fifty-two week high of $25.24. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.24. The company has a market cap of $220.00 million, a P/E ratio of 11.11 and a beta of 1.03. The business has a 50-day simple moving average of $19.22 and a 200-day simple moving average of $20.06.

MVB Financial (NASDAQ:MVBF) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.39. The firm had revenue of $46.18 million for the quarter, compared to analyst estimates of $33.60 million. MVB Financial had a return on equity of 6.76% and a net margin of 8.78%. On average, research analysts expect that MVB Financial Corp. will post 1.4 earnings per share for the current fiscal year.

MVB Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.68 annualized dividend and a yield of 4.00%. MVB Financial’s payout ratio is currently 44.44%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods dropped their price target 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.

Institutional Trading of MVB Financial

Several institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC boosted its holdings in MVB Financial by 4.5% in the third quarter. Empowered Funds LLC now owns 12,354 shares of the company’s stock valued at $239,000 after purchasing an additional 536 shares during the last quarter. Natixis Advisors LLC acquired a new position in shares of MVB Financial during the 3rd quarter valued at $242,000. Martingale Asset Management L P acquired a new position in shares of MVB Financial during the 3rd quarter valued at $376,000. State Street Corp boosted its stake in shares of MVB Financial by 2.9% during the 3rd quarter. State Street Corp now owns 225,727 shares of the company’s stock worth $4,370,000 after acquiring an additional 6,274 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of MVB Financial by 99.5% in the third quarter. Barclays PLC now owns 24,436 shares of the company’s stock worth $474,000 after buying an additional 12,190 shares during the period. 52.72% of the stock is owned by hedge funds and other 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.