MVB Financial (NASDAQ:MVBF) PT Lowered to $23.00 at Hovde Group

MVB Financial (NASDAQ:MVBF) had its price objective reduced by Hovde Group from $27.00 to $23.00 in a research report sent to investors on Wednesday morning, MarketBeat.com reports. Hovde Group currently has an outperform rating on the stock.

MVBF has been the topic of a number of other reports. Keefe, Bruyette & Woods lowered their price target on shares of MVB Financial from $26.00 to $25.00 and set an outperform rating on the stock in a research report on Friday, March 1st. JPMorgan Chase & Co. dropped their price objective on shares of MVB Financial from $28.00 to $25.00 and set an overweight rating for the company in a research note on Wednesday, May 1st. Four research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of Buy and an average price target of $25.75.

MVB Financial Trading Down 1.4 %

Shares of MVB Financial stock opened at $18.37 on Wednesday. MVB Financial has a twelve month low of $16.50 and a twelve month high of $27.23. The firm’s 50-day moving average price is $20.50 and its 200 day moving average price is $21.07. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $235.87 million, a PE ratio of 9.82 and a beta of 1.04.

MVB Financial (NASDAQ:MVBF) last issued its quarterly earnings results on Monday, April 29th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.04). The firm had revenue of $57.86 million for the quarter, compared to analysts’ expectations of $37.47 million. MVB Financial had a return on equity of 8.76% and a net margin of 11.10%. On average, sell-side analysts predict that MVB Financial will post 1.64 EPS for the current fiscal year.

MVB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.68 annualized dividend and a yield of 3.70%. MVB Financial’s dividend payout ratio is presently 36.36%.

Institutional Trading of MVB Financial

Several hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. grew its stake in shares of MVB Financial by 8.0% in the 1st quarter. Russell Investments Group Ltd. now owns 80,552 shares of the company’s stock valued at $1,797,000 after buying an additional 5,973 shares during the period. TimesSquare Capital Management LLC grew its stake in shares of MVB Financial by 53.5% in the 1st quarter. TimesSquare Capital Management LLC now owns 945,290 shares of the company’s stock valued at $21,089,000 after buying an additional 329,355 shares during the period. Empowered Funds LLC purchased a new stake in shares of MVB Financial in the 1st quarter valued at approximately $248,000. Sippican Capital Advisors purchased a new stake in shares of MVB Financial in the 1st quarter valued at approximately $308,000. Finally, BNP Paribas Financial Markets grew its stake in shares of MVB Financial by 515.9% in the 1st quarter. BNP Paribas Financial Markets now owns 20,195 shares of the company’s stock valued at $451,000 after buying an additional 16,916 shares during the period. Hedge funds and other institutional investors own 52.72% of the company’s stock.

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.