JPMorgan Chase & Co. Increases Stock Position in MVB Financial Corp. (NASDAQ:MVBF)

JPMorgan Chase & Co. lifted its holdings in MVB Financial Corp. (NASDAQ:MVBFFree Report) by 30.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,926 shares of the company’s stock after buying an additional 10,649 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.35% of MVB Financial worth $889,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Empowered Funds LLC grew its position in MVB Financial by 4.5% in the 3rd quarter. Empowered Funds LLC now owns 12,354 shares of the company’s stock worth $239,000 after purchasing an additional 536 shares during the period. Rhumbline Advisers boosted its stake in shares of MVB Financial by 3.2% in the 2nd quarter. Rhumbline Advisers now owns 17,888 shares of the company’s stock worth $333,000 after buying an additional 549 shares during the last quarter. Sippican Capital Advisors grew its holdings in shares of MVB Financial by 11.4% in the third quarter. Sippican Capital Advisors now owns 23,820 shares of the company’s stock worth $461,000 after acquiring an additional 2,440 shares during the period. Assenagon Asset Management S.A. increased its position in MVB Financial by 19.0% during the third quarter. Assenagon Asset Management S.A. now owns 19,258 shares of the company’s stock valued at $373,000 after acquiring an additional 3,077 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in MVB Financial by 2.3% in the third quarter. Geode Capital Management LLC now owns 265,272 shares of the company’s stock valued at $5,136,000 after acquiring an additional 6,002 shares during the period. 52.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods boosted their price target on MVB Financial from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th.

Read Our Latest Report on MVBF

MVB Financial Stock Up 0.8 %

Shares of MVBF stock opened at $19.55 on Friday. The company has a market capitalization of $252.98 million, a price-to-earnings ratio of 13.77 and a beta of 1.06. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.94. The company’s fifty day moving average price is $20.63 and its 200-day moving average price is $20.63. MVB Financial Corp. has a one year low of $17.51 and a one year high of $25.24.

MVB Financial (NASDAQ:MVBFGet Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.19). The business had revenue of $53.28 million for the quarter, compared to the consensus estimate of $35.90 million. MVB Financial had a net margin of 8.49% and a return on equity of 6.29%. Sell-side analysts expect that MVB Financial Corp. will post 1.08 EPS for the current fiscal year.

MVB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 1st were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Friday, November 29th. MVB Financial’s dividend payout ratio (DPR) is presently 47.89%.

MVB Financial Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for MVB Financial (NASDAQ:MVBF)

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