$36.07 Million in Sales Expected for MVB Financial Corp. (NASDAQ:MVBF) This Quarter

Wall Street brokerages expect that MVB Financial Corp. (NASDAQ:MVBFGet Rating) will report sales of $36.07 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for MVB Financial’s earnings, with estimates ranging from $35.30 million to $36.83 million. MVB Financial posted sales of $29.96 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 20.4%. The firm is scheduled to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that MVB Financial will report full-year sales of $161.16 million for the current year, with estimates ranging from $159.92 million to $162.40 million. For the next fiscal year, analysts expect that the company will post sales of $199.14 million, with estimates ranging from $197.28 million to $201.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for MVB Financial.

MVB Financial (NASDAQ:MVBFGet Rating) last posted its earnings results on Thursday, February 17th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.52. MVB Financial had a return on equity of 15.22% and a net margin of 26.79%. The firm had revenue of $36.05 million for the quarter, compared to analyst estimates of $30.10 million.

A number of equities research analysts recently issued reports on MVBF shares. Piper Sandler increased their price target on MVB Financial from $43.00 to $44.50 and gave the stock a “neutral” rating in a research note on Thursday, March 17th. Zacks Investment Research raised MVB Financial from a “hold” rating to a “strong-buy” rating and set a $45.00 price target on the stock in a research note on Thursday, March 17th. Finally, Raymond James started coverage on MVB Financial in a research note on Friday, April 1st. They set a “strong-buy” rating and a $64.00 price target on the stock.

Hedge funds have recently added to or reduced their stakes in the company. TimesSquare Capital Management LLC grew its stake in shares of MVB Financial by 89.1% during the fourth quarter. TimesSquare Capital Management LLC now owns 1,019,377 shares of the company’s stock valued at $42,325,000 after acquiring an additional 480,323 shares in the last quarter. BlackRock Inc. increased its stake in shares of MVB Financial by 4.3% in the fourth quarter. BlackRock Inc. now owns 636,918 shares of the company’s stock valued at $26,444,000 after purchasing an additional 26,200 shares during the period. State Street Corp increased its stake in shares of MVB Financial by 2.5% in the fourth quarter. State Street Corp now owns 170,826 shares of the company’s stock valued at $7,093,000 after purchasing an additional 4,134 shares during the period. Geode Capital Management LLC increased its stake in shares of MVB Financial by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 170,816 shares of the company’s stock valued at $7,092,000 after purchasing an additional 898 shares during the period. Finally, Banc Funds Co. LLC increased its stake in shares of MVB Financial by 12.8% in the third quarter. Banc Funds Co. LLC now owns 85,733 shares of the company’s stock valued at $3,672,000 after purchasing an additional 9,750 shares during the period. Institutional investors and hedge funds own 49.81% of the company’s stock.

MVBF stock opened at $41.07 on Friday. MVB Financial has a 1 year low of $37.15 and a 1 year high of $45.94. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.91 and a current ratio of 0.91. The stock’s 50 day moving average price is $40.78 and its 200 day moving average price is $41.16. The firm has a market cap of $498.63 million, a P/E ratio of 13.33 and a beta of 0.90.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Tuesday, March 1st were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.66%. This is an increase from MVB Financial’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, February 28th. MVB Financial’s dividend payout ratio is presently 22.08%.

About MVB Financial (Get Rating)

MVB Financial Corp., through its subsidiaries, provides financial services to individuals and corporate clients in the Mid-Atlantic region and internationally. The company operates through three segments: CoRe Banking, Mortgage Banking, and 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.

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Earnings History and Estimates for MVB Financial (NASDAQ:MVBF)

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