MVB Financial Corp. (NASDAQ:MVBF – Get Free Report) saw a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 82,500 shares, a decrease of 14.9% from the October 15th total of 97,000 shares. Based on an average daily volume of 21,000 shares, the days-to-cover ratio is currently 3.9 days. Approximately 0.7% of the shares of the company are sold short.
MVB Financial Trading Up 0.7 %
Shares of MVBF stock opened at $19.02 on Monday. The stock’s fifty day moving average price is $21.61 and its two-hundred day moving average price is $21.57. The company has a market cap of $242.31 million, a PE ratio of 8.31 and a beta of 0.92. MVB Financial has a fifty-two week low of $16.26 and a fifty-two week high of $27.49. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.94 and a current ratio of 0.95.
MVB Financial (NASDAQ:MVBF – Get Free Report) last issued its earnings results on Thursday, October 26th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.25). The business had revenue of $35.66 million during the quarter, compared to analyst estimates of $36.12 million. MVB Financial had a net margin of 14.74% and a return on equity of 7.81%. Equities analysts predict that MVB Financial will post 1.55 EPS for the current fiscal year.
MVB Financial Announces Dividend
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the business. Deutsche Bank AG raised its position in shares of MVB Financial by 37.6% in the 3rd quarter. Deutsche Bank AG now owns 7,637 shares of the company’s stock worth $172,000 after acquiring an additional 2,088 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of MVB Financial by 101.0% in the 3rd quarter. New York State Common Retirement Fund now owns 4,795 shares of the company’s stock valued at $108,000 after buying an additional 2,409 shares during the period. Bank of New York Mellon Corp grew its stake in shares of MVB Financial by 4.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 84,867 shares of the company’s stock valued at $1,916,000 after buying an additional 3,261 shares during the period. SG Americas Securities LLC acquired a new stake in shares of MVB Financial in the 3rd quarter valued at about $109,000. Finally, Nuveen Asset Management LLC grew its stake in shares of MVB Financial by 83.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 40,422 shares of the company’s stock valued at $852,000 after buying an additional 18,349 shares during the period. 51.35% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several research firms have recently commented on MVBF. Raymond James upped their target price on MVB Financial from $19.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, July 31st. TheStreet raised MVB Financial from a “c” rating to a “b” rating in a research report on Monday, August 28th.
About MVB Financial
MVB Financial Corp., through its subsidiaries, provides financial services to individuals and corporate clients. The company operates through five segments: CoRe Banking, Mortgage Banking, Professional Services, Edge Ventures, 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.
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