Assenagon Asset Management S.A. cut its holdings in shares of MVB Financial Corp. (NASDAQ:MVBF – Free Report) by 27.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,951 shares of the company’s stock after selling 5,307 shares during the period. Assenagon Asset Management S.A.’s holdings in MVB Financial were worth $289,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of MVB Financial by 5.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 343,623 shares of the company’s stock valued at $6,405,000 after purchasing an additional 18,649 shares in the last quarter. Geode Capital Management LLC increased its holdings in MVB Financial by 2.3% in the third quarter. Geode Capital Management LLC now owns 265,272 shares of the company’s stock valued at $5,136,000 after buying an additional 6,002 shares during the last quarter. State Street Corp raised its stake in MVB Financial by 2.9% during the third quarter. State Street Corp now owns 225,727 shares of the company’s stock valued at $4,370,000 after buying an additional 6,274 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in MVB Financial by 30.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 45,926 shares of the company’s stock worth $889,000 after buying an additional 10,649 shares during the last quarter. Finally, Inspire Investing LLC acquired a new position in shares of MVB Financial in the 3rd quarter worth approximately $772,000. 52.72% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Separately, Keefe, Bruyette & Woods raised their price objective on 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 Stock Performance
MVB Financial stock opened at $19.55 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $252.98 million, a P/E ratio of 13.77 and a beta of 1.06. MVB Financial Corp. has a fifty-two week low of $17.51 and a fifty-two week high of $25.24. The firm’s 50 day simple moving average is $20.63 and its 200-day simple moving average is $20.63.
MVB Financial (NASDAQ:MVBF – Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.19). MVB Financial had a return on equity of 6.29% and a net margin of 8.49%. The company had revenue of $53.28 million during the quarter, compared to analysts’ expectations of $35.90 million. As a group, equities research analysts predict that MVB Financial Corp. will post 1.08 EPS for the current year.
MVB Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 1st were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Friday, November 29th. MVB Financial’s payout ratio is 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.
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