Endeavour Capital Advisors Inc. Decreases Stake in MVB Financial Corp. (NASDAQ:MVBF)

Endeavour Capital Advisors Inc. reduced its position in MVB Financial Corp. (NASDAQ:MVBF) by 8.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 188,019 shares of the company’s stock after selling 16,332 shares during the period. MVB Financial makes up about 1.2% of Endeavour Capital Advisors Inc.’s holdings, making the stock its 24th biggest holding. Endeavour Capital Advisors Inc. owned approximately 1.46% of MVB Financial worth $3,505,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in MVB Financial by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 558,946 shares of the company’s stock valued at $12,470,000 after buying an additional 29,237 shares during the last quarter. TimesSquare Capital Management LLC lifted its position in shares of MVB Financial by 53.5% during the first quarter. TimesSquare Capital Management LLC now owns 945,290 shares of the company’s stock worth $21,089,000 after purchasing an additional 329,355 shares during the last quarter. Empowered Funds LLC bought a new position in shares of MVB Financial during the first quarter worth about $248,000. Acadian Asset Management LLC bought a new position in shares of MVB Financial during the first quarter worth about $180,000. Finally, Russell Investments Group Ltd. lifted its position in shares of MVB Financial by 8.0% during the first quarter. Russell Investments Group Ltd. now owns 80,552 shares of the company’s stock worth $1,797,000 after purchasing an additional 5,973 shares during the last quarter. 52.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. increased their price target on shares of MVB Financial from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st.

MVB Financial Stock Performance

Shares of NASDAQ MVBF opened at $19.09 on Thursday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.25. The firm’s 50-day moving average price is $21.13 and its two-hundred day moving average price is $20.04. MVB Financial Corp. has a 52-week low of $17.51 and a 52-week high of $25.24. The stock has a market capitalization of $246.83 million, a P/E ratio of 10.21 and a beta of 1.06.

MVB Financial (NASDAQ:MVBF) last issued its earnings results on Monday, July 29th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.09). MVB Financial had a return on equity of 7.08% and a net margin of 9.28%. The business had revenue of $53.27 million during the quarter, compared to the consensus estimate of $38.20 million. As a group, sell-side analysts forecast that MVB Financial Corp. will post 1.5 earnings per share for the current year.

MVB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.68 annualized dividend and a dividend yield of 3.56%. MVB Financial’s payout ratio is currently 36.36%.

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.