Hovde Group Increases Mvb Financial (NASDAQ:MVBF) Price Target to $33.00

Mvb Financial (NASDAQ:MVBF) had its price target upped by Hovde Group from $31.00 to $33.00 in a research note issued on Friday, Marketbeat Ratings reports. The firm presently has an “outperform” rating on the stock. Hovde Group’s price objective points to a potential upside of 20.09% from the stock’s previous close.

A number of other research analysts have also issued reports on MVBF. Weiss Ratings reiterated a “buy (b-)” rating on shares of Mvb Financial in a research note on Monday, December 29th. Zacks Research upgraded Mvb Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, January 2nd. Wall Street Zen cut Mvb Financial from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, Keefe, Bruyette & Woods lifted their price target on Mvb Financial from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, November 10th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Mvb Financial has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

Mvb Financial Stock Down 1.7%

Shares of MVBF opened at $27.48 on Friday. Mvb Financial has a 12-month low of $15.59 and a 12-month high of $29.59. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.23. The company’s 50-day moving average price is $27.34 and its 200 day moving average price is $25.89. The firm has a market cap of $349.55 million, a P/E ratio of 13.34 and a beta of 0.94.

Mvb Financial (NASDAQ:MVBF) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $39.08 million for the quarter, compared to analyst estimates of $35.13 million. Mvb Financial had a net margin of 13.37% and a return on equity of 2.12%. On average, sell-side analysts forecast that Mvb Financial will post 1.4 earnings per share for the current year.

Institutional Investors Weigh In On Mvb Financial

Several institutional investors and hedge funds have recently made changes to their positions in MVBF. Russell Investments Group Ltd. increased its holdings in Mvb Financial by 2,673.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,137 shares of the company’s stock valued at $28,000 after acquiring an additional 1,096 shares in the last quarter. CWM LLC grew its position in shares of Mvb Financial by 75.8% in the second quarter. CWM LLC now owns 1,208 shares of the company’s stock valued at $27,000 after purchasing an additional 521 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Mvb Financial during the 2nd quarter worth approximately $32,000. Tower Research Capital LLC TRC raised its position in shares of Mvb Financial by 200.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,870 shares of the company’s stock worth $42,000 after purchasing an additional 1,248 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in Mvb Financial by 317.6% in the 3rd quarter. Versant Capital Management Inc now owns 2,063 shares of the company’s stock valued at $52,000 after buying an additional 1,569 shares in the last quarter. 52.72% of the stock is currently owned by hedge funds and other institutional investors.

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.