Mvb Financial (NASDAQ:MVBF) Upgraded at Zacks Research

Zacks Research upgraded shares of Mvb Financial (NASDAQ:MVBF) from a strong sell rating to a hold rating in a research note published on Monday,Zacks.com reports.

A number of other brokerages have also recently commented on MVBF. Hovde Group lowered their price objective on shares of Mvb Financial from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. Keefe, Bruyette & Woods increased their price objective on shares of Mvb Financial from $23.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday, August 4th. Cowen initiated coverage on shares of Mvb Financial in a research note on Wednesday, September 24th. They issued a “buy” rating on the stock. Wall Street Zen cut shares of Mvb Financial from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $25.00 price target (up from $20.00) on shares of Mvb Financial in a research note on Tuesday, July 8th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.00.

Mvb Financial Price Performance

Shares of NASDAQ MVBF opened at $25.45 on Monday. The stock has a market cap of $323.98 million, a price-to-earnings ratio of 19.58 and a beta of 1.08. Mvb Financial has a 52 week low of $15.59 and a 52 week high of $25.51. The company’s 50-day moving average price is $23.81 and its 200 day moving average price is $20.84. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.24.

Mvb Financial (NASDAQ:MVBF) last issued its quarterly earnings data on Monday, July 28th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.16). The business had revenue of $33.72 million during the quarter, compared to analyst estimates of $35.80 million. Mvb Financial had a net margin of 7.84% and a return on equity of 5.60%. As a group, research analysts forecast that Mvb Financial will post 1.4 earnings per share for the current fiscal year.

Mvb Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 1st were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Friday, August 29th. Mvb Financial’s dividend payout ratio is presently 52.31%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MVBF. Fourthstone LLC lifted its holdings in shares of Mvb Financial by 275.2% during the 2nd quarter. Fourthstone LLC now owns 259,356 shares of the company’s stock worth $5,843,000 after acquiring an additional 190,223 shares during the period. AA Financial Advisors LLC purchased a new position in Mvb Financial in the first quarter valued at approximately $1,299,000. Nuveen LLC purchased a new position in Mvb Financial in the first quarter valued at approximately $815,000. Jane Street Group LLC raised its holdings in Mvb Financial by 104.5% in the second quarter. Jane Street Group LLC now owns 27,111 shares of the company’s stock valued at $611,000 after buying an additional 13,852 shares during the period. Finally, Bridgeway Capital Management LLC raised its holdings in Mvb Financial by 9.0% in the first quarter. Bridgeway Capital Management LLC now owns 163,744 shares of the company’s stock valued at $2,836,000 after buying an additional 13,565 shares during the period. 52.72% of the stock is currently owned by hedge funds and other institutional investors.

About Mvb Financial

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.