MVB Financial Corp. (NASDAQ:MVBF) Shares Bought by Rhumbline Advisers

Rhumbline Advisers grew its position in shares of MVB Financial Corp. (NASDAQ:MVBF) by 3.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,888 shares of the company’s stock after acquiring an additional 549 shares during the quarter. Rhumbline Advisers’ holdings in MVB Financial were worth $333,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in MVB Financial by 25.2% in the second quarter. Bank of New York Mellon Corp now owns 70,492 shares of the company’s stock valued at $1,314,000 after purchasing an additional 14,176 shares during the last quarter. Boston Partners lifted its holdings in MVB Financial by 11.5% during the 1st quarter. Boston Partners now owns 17,447 shares of the company’s stock worth $389,000 after buying an additional 1,793 shares during the last quarter. EntryPoint Capital LLC bought a new position in MVB Financial during the 1st quarter worth approximately $107,000. Acadian Asset Management LLC bought a new position in MVB Financial during the 1st quarter worth approximately $180,000. Finally, Vanguard Group Inc. lifted its holdings in MVB Financial by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 558,946 shares of the company’s stock worth $12,470,000 after buying an additional 29,237 shares during the last quarter. 52.72% of the stock is currently owned by institutional investors and hedge funds.

MVB Financial Stock Down 1.0 %

Shares of MVBF stock opened at $19.07 on Friday. MVB Financial Corp. has a 1 year low of $17.51 and a 1 year high of $25.24. The stock has a market cap of $246.58 million, a PE ratio of 10.20 and a beta of 1.06. The business’s fifty day moving average is $20.93 and its 200-day moving average is $20.02. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.94 and a current ratio of 0.94.

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). The company had revenue of $53.27 million during the quarter, compared to analyst estimates of $38.20 million. MVB Financial had a return on equity of 7.08% and a net margin of 9.28%. Equities analysts expect that MVB Financial Corp. will post 1.5 earnings per share for the current fiscal year.

MVB Financial Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 3.57%. MVB Financial’s dividend payout ratio (DPR) is currently 36.36%.

Analyst Upgrades and Downgrades

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

MVB Financial 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.