JPMorgan Chase & Co. raised its position in shares of MVB Financial Corp. (NASDAQ:MVBF – Free Report) by 30.2% during the third quarter, HoldingsChannel reports. The fund owned 45,926 shares of the company’s stock after acquiring an additional 10,649 shares during the quarter. JPMorgan Chase & Co.’s holdings in MVB Financial were worth $889,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the company. Inspire Investing LLC purchased a new position in MVB Financial during the 3rd quarter valued at $772,000. Martingale Asset Management L P bought a new stake in shares of MVB Financial during the third quarter worth $376,000. Dimensional Fund Advisors LP lifted its position in shares of MVB Financial by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 343,623 shares of the company’s stock worth $6,405,000 after purchasing an additional 18,649 shares during the last quarter. Natixis Advisors LLC bought a new stake in shares of MVB Financial during the third quarter worth $242,000. Finally, Barclays PLC boosted its stake in shares of MVB Financial by 99.5% during the third quarter. Barclays PLC now owns 24,436 shares of the company’s stock valued at $474,000 after purchasing an additional 12,190 shares during the period. Institutional investors own 52.72% of the company’s stock.
Analyst Ratings Changes
Separately, Keefe, Bruyette & Woods raised their price target on shares of MVB Financial from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th.
MVB Financial Trading Up 0.8 %
MVBF opened at $19.55 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.24. The stock’s fifty day moving average is $20.63 and its two-hundred day moving average is $20.63. The company has a market capitalization of $252.98 million, a P/E ratio of 13.77 and a beta of 1.06. MVB Financial Corp. has a 52 week low of $17.51 and a 52 week high of $25.24.
MVB Financial (NASDAQ:MVBF – Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.19). MVB Financial had a net margin of 8.49% and a return on equity of 6.29%. The firm had revenue of $53.28 million for the quarter, compared to analysts’ expectations of $35.90 million. Analysts forecast that MVB Financial Corp. will post 1.08 earnings per share for the current year.
MVB Financial Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were given a $0.17 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.68 annualized dividend and a dividend yield of 3.48%. MVB Financial’s payout ratio is presently 47.89%.
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.
Read More
- Five stocks we like better than MVB Financial
- NYSE Stocks Give Investors a Variety of Quality Options
- Bloom Energy: Powering the Future With Decentralized Energy
- What Are Earnings Reports?
- Dividend Powerhouses: Blue-Chip Stocks Built for the Long Haul
- Investing In Preferred Stock vs. Common Stock
- Why Traders Are Buying the Dip on Johnson & Johnson Stock
Want to see what other hedge funds are holding MVBF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MVB Financial Corp. (NASDAQ:MVBF – Free Report).
Receive News & Ratings for MVB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MVB Financial and related companies with MarketBeat.com's FREE daily email newsletter.