MVB Financial (NASDAQ:MVBF) Price Target Raised to $26.00 at Keefe, Bruyette & Woods

MVB Financial (NASDAQ:MVBF) had its target price boosted by Keefe, Bruyette & Woods from $24.00 to $26.00 in a research note issued to investors on Wednesday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

MVB Financial Stock Up 2.9 %

Shares of MVBF stock opened at $21.76 on Wednesday. MVB Financial has a 1 year low of $17.51 and a 1 year high of $25.24. The stock has a market cap of $281.57 million, a PE ratio of 15.32 and a beta of 1.08. The business’s fifty day moving average is $20.41 and its 200-day moving average is $20.14. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.94 and a current ratio of 0.94.

MVB Financial (NASDAQ:MVBF) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.19). The company had revenue of $53.28 million for the quarter, compared to the consensus estimate of $35.90 million. MVB Financial had a return on equity of 6.29% and a net margin of 8.49%. Equities analysts expect that MVB Financial will post 1.08 earnings per share for the current fiscal year.

MVB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be paid a $0.17 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.68 dividend on an annualized basis and a yield of 3.13%. MVB Financial’s dividend payout ratio (DPR) is currently 47.89%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MVBF. Vanguard Group Inc. lifted its position in shares of 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 purchasing an additional 29,237 shares during the last quarter. Boston Partners grew its position 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 acquiring an additional 1,793 shares during the last quarter. Bank of New York Mellon Corp boosted its position in MVB Financial by 25.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 70,492 shares of the company’s stock valued at $1,314,000 after buying an additional 14,176 shares during the last quarter. Rhumbline Advisers boosted its position in MVB Financial by 3.2% in the 2nd quarter. Rhumbline Advisers now owns 17,888 shares of the company’s stock valued at $333,000 after buying an additional 549 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of MVB Financial by 20.0% in the 2nd quarter. Acadian Asset Management LLC now owns 9,764 shares of the company’s stock valued at $181,000 after purchasing an additional 1,629 shares during the period. Hedge funds and other institutional investors own 52.72% of the company’s stock.

MVB Financial Company 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.