MVB Financial Corp. (NASDAQ:MVBF) Short Interest Down 14.7% in June

MVB Financial Corp. (NASDAQ:MVBF) was the target of a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 75,000 shares, a drop of 14.7% from the May 31st total of 87,900 shares. Based on an average daily volume of 17,300 shares, the short-interest ratio is presently 4.3 days.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Hovde Group lowered MVB Financial from an “outperform” rating to a “market perform” rating and set a $21.00 price objective for the company. in a research report on Wednesday, May 15th. JPMorgan Chase & Co. dropped their price target on MVB Financial from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, MVB Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.25.

Institutional Investors Weigh In On MVB Financial

Institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP grew its stake in shares of MVB Financial by 3.8% during the fourth quarter. Wellington Management Group LLP now owns 1,353,624 shares of the company’s stock valued at $30,538,000 after buying an additional 49,007 shares during the last quarter. TimesSquare Capital Management LLC lifted its holdings in shares of MVB Financial by 53.5% during the first quarter. TimesSquare Capital Management LLC now owns 945,290 shares of the company’s stock valued at $21,089,000 after purchasing an additional 329,355 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of MVB Financial by 5.5% during the first quarter. Vanguard Group Inc. now owns 558,946 shares of the company’s stock valued at $12,470,000 after purchasing an additional 29,237 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of MVB Financial by 8.0% during the first quarter. Russell Investments Group Ltd. now owns 80,552 shares of the company’s stock valued at $1,797,000 after purchasing an additional 5,973 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in MVB Financial in the 4th quarter worth approximately $736,000. Hedge funds and other institutional investors own 52.72% of the company’s stock.

MVB Financial Stock Performance

NASDAQ MVBF traded down $0.04 on Tuesday, hitting $18.35. 18,739 shares of the stock traded hands, compared to its average volume of 26,343. The business’s fifty day moving average is $18.55 and its two-hundred day moving average is $20.57. MVB Financial has a 12 month low of $17.51 and a 12 month high of $27.23. The firm has a market capitalization of $236.53 million, a price-to-earnings ratio of 9.83 and a beta of 1.05. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.95 and a current ratio of 0.95.

MVB Financial (NASDAQ:MVBF) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.34 earnings per share 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 the consensus estimate of $37.47 million. MVB Financial had a net margin of 11.10% and a return on equity of 8.65%. As a group, equities analysts anticipate that MVB Financial will post 1.68 EPS for the current fiscal year.

MVB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 15th. Investors of record on Saturday, June 1st were given a $0.17 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.71%. MVB Financial’s dividend payout ratio (DPR) is presently 36.36%.

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.