MVB Financial (NASDAQ:MVBF) Price Target Lowered to $20.00 at Raymond James

MVB Financial (NASDAQ:MVBF) had its target price decreased by investment analysts at Raymond James from $24.00 to $20.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ price objective suggests a potential upside of 17.02% from the company’s previous close.

Separately, Keefe, Bruyette & Woods decreased their price objective on shares of MVB Financial from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, March 3rd.

MVB Financial Stock Performance

Shares of MVB Financial stock traded down $0.16 during mid-day trading on Wednesday, hitting $17.09. 3,750 shares of the stock were exchanged, compared to its average volume of 28,228. The company has a market capitalization of $221.31 million, a P/E ratio of 11.19 and a beta of 1.03. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.94 and a current ratio of 0.94. The company has a 50-day simple moving average of $18.65 and a 200 day simple moving average of $19.76. MVB Financial has a 12 month low of $16.81 and a 12 month high of $25.24.

MVB Financial (NASDAQ:MVBF) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.39. MVB Financial had a return on equity of 6.76% and a net margin of 8.78%. The business had revenue of $46.18 million for the quarter, compared to analysts’ expectations of $33.60 million. Sell-side analysts anticipate that MVB Financial will post 1.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MVB Financial news, insider Michael Louis Giorgio bought 5,700 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was purchased at an average price of $17.60 per share, for a total transaction of $100,320.00. Following the completion of the transaction, the insider now directly owns 7,504 shares of the company’s stock, valued at $132,070.40. This trade represents a 315.96 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders bought 7,400 shares of company stock valued at $129,574. 11.10% of the stock is owned by insiders.

Institutional Trading of MVB Financial

A number of institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in MVB Financial during the 4th quarter valued at $111,000. Wells Fargo & Company MN grew its position in shares of MVB Financial by 20.3% in the fourth quarter. Wells Fargo & Company MN now owns 8,705 shares of the company’s stock valued at $180,000 after purchasing an additional 1,467 shares in the last quarter. Empowered Funds LLC raised 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. Deutsche Bank AG purchased a new stake in MVB Financial during the 4th quarter worth about $272,000. Finally, Two Sigma Advisers LP boosted its stake in MVB Financial by 11.6% in the 4th quarter. Two Sigma Advisers LP now owns 13,500 shares of the company’s stock worth $279,000 after purchasing an additional 1,400 shares during the period. 52.72% of the stock is currently 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.