Northern Trust Corp Buys 3,409 Shares of MVB Financial Corp. (NASDAQ:MVBF)

Northern Trust Corp raised its stake in MVB Financial Corp. (NASDAQ:MVBF) by 3.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 99,258 shares of the company’s stock after purchasing an additional 3,409 shares during the period. Northern Trust Corp owned 0.77% of MVB Financial worth $2,055,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MVBF. TimesSquare Capital Management LLC increased its position in shares of MVB Financial by 19.3% during the fourth quarter. TimesSquare Capital Management LLC now owns 924,053 shares of the company’s stock worth $19,128,000 after acquiring an additional 149,464 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of MVB Financial by 5.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 388,990 shares of the company’s stock worth $8,052,000 after acquiring an additional 20,992 shares in the last quarter. Banco Santander S.A. bought a new stake in shares of MVB Financial during the fourth quarter worth about $7,558,000. Bank of New York Mellon Corp increased its position in shares of MVB Financial by 29.8% during the fourth quarter. Bank of New York Mellon Corp now owns 81,969 shares of the company’s stock worth $1,697,000 after acquiring an additional 18,825 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of MVB Financial by 39.9% during the fourth quarter. JPMorgan Chase & Co. now owns 64,244 shares of the company’s stock worth $1,330,000 after acquiring an additional 18,318 shares in the last quarter. 52.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Raymond James decreased their target price on shares of MVB Financial from $24.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods decreased their target price on shares of MVB Financial from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd.

MVB Financial Stock Down 0.2%

MVB Financial stock opened at $18.97 on Monday. MVB Financial Corp. has a fifty-two week low of $15.59 and a fifty-two week high of $25.24. The stock has a market cap of $246.52 million, a PE ratio of 12.40 and a beta of 0.92. The firm’s 50-day simple moving average is $17.29 and its 200 day simple moving average is $19.07. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.94 and a current ratio of 0.94.

MVB Financial (NASDAQ:MVBF) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.06. MVB Financial had a net margin of 8.78% and a return on equity of 6.76%. The business had revenue of $33.68 million for the quarter, compared to analysts’ expectations of $34.48 million. Research analysts predict that MVB Financial Corp. will post 1.4 EPS for the current fiscal year.

MVB Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 1st will be issued 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 is Friday, May 30th. MVB Financial’s dividend payout ratio (DPR) is presently 46.58%.

Insider Buying and Selling

In other MVB Financial news, CEO Larry F. Mazza sold 6,962 shares of the business’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $17.49, for a total value of $121,765.38. Following the transaction, the chief executive officer now directly owns 626,358 shares in the company, valued at $10,955,001.42. The trade was a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Ryan Rodriguez bought 4,125 shares of the company’s stock in a transaction on Thursday, May 8th. The stock was bought at an average price of $18.00 per share, for a total transaction of $74,250.00. Following the completion of the purchase, the insider now owns 4,125 shares of the company’s stock, valued at approximately $74,250. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 12,650 shares of company stock worth $225,367. 11.66% of the stock is owned by insiders.

MVB Financial Company Profile

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.