Mvb Financial (NASDAQ:MVBF) Upgraded at TD Cowen

TD Cowen upgraded shares of Mvb Financial (NASDAQ:MVBF) to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Hovde Group boosted their price target on Mvb Financial from $31.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Weiss Ratings reissued a “buy (b-)” rating on shares of Mvb Financial in a research report on Monday, December 29th. Zacks Research raised Mvb Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, January 2nd. Finally, Wall Street Zen downgraded Mvb Financial from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Mvb Financial currently has an average rating of “Buy” and a consensus price target of $32.00.

Mvb Financial Stock Performance

Mvb Financial stock opened at $26.15 on Monday. The firm has a market capitalization of $336.03 million, a P/E ratio of 12.69 and a beta of 0.90. The stock has a fifty day moving average price of $26.37 and a 200 day moving average price of $26.58. Mvb Financial has a 52 week low of $15.59 and a 52 week high of $29.59. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.22.

Mvb Financial (NASDAQ:MVBF) last released its earnings results on Thursday, February 12th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. The firm had revenue of $39.08 million during the quarter, compared to analyst estimates of $35.13 million. Mvb Financial had a return on equity of 2.09% and a net margin of 13.37%. Equities research analysts anticipate that Mvb Financial will post 1.4 earnings per share for the current year.

Mvb Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, March 15th. Investors of record on Sunday, March 1st were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.68 dividend on an annualized basis and a yield of 2.6%. Mvb Financial’s dividend payout ratio is currently 33.01%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its holdings in Mvb Financial by 2,673.2% in the third quarter. Russell Investments Group Ltd. now owns 1,137 shares of the company’s stock valued at $28,000 after purchasing an additional 1,096 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Mvb Financial in the second quarter valued at about $32,000. Tower Research Capital LLC TRC boosted its holdings in Mvb Financial by 200.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,870 shares of the company’s stock valued at $42,000 after purchasing an additional 1,248 shares during the last quarter. CWM LLC boosted its holdings in Mvb Financial by 68.6% in the third quarter. CWM LLC now owns 2,037 shares of the company’s stock valued at $51,000 after purchasing an additional 829 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Mvb Financial by 317.6% in the third quarter. Versant Capital Management Inc now owns 2,063 shares of the company’s stock valued at $52,000 after purchasing an additional 1,569 shares during the last quarter. Hedge funds and other institutional investors own 52.72% of the company’s stock.

About Mvb Financial

MVB Financial Corp is a bank holding company based in Fairmont, West Virginia, serving individuals and businesses through its subsidiary, MVB Bank, Inc The company operates under a “Local First Banking” philosophy, emphasizing personalized service across its branch network. Its core business activities include deposit-taking, commercial lending, residential mortgage origination, and wealth management services.

On the deposit side, MVB Bank offers a range of products such as checking and savings accounts, money market accounts, and certificates of deposit.