Short Interest in MVB Financial Corp. (NASDAQ:MVBF) Declines By 14.9%

MVB Financial Corp. (NASDAQ:MVBF) 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) 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

The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend was Thursday, August 31st. MVB Financial’s dividend payout ratio is currently 29.69%.

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.