MVB Financial (NASDAQ:MVBF) Issues Quarterly Earnings Results

MVB Financial (NASDAQ:MVBF) posted its quarterly earnings results on Monday. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.09), Zacks reports. MVB Financial had a net margin of 9.28% and a return on equity of 7.16%. The company had revenue of $53.27 million during the quarter, compared to the consensus estimate of $38.20 million.

MVB Financial Stock Down 3.3 %

Shares of MVB Financial stock traded down $0.79 on Wednesday, hitting $22.97. 47,240 shares of the company traded hands, compared to its average volume of 27,650. MVB Financial has a 12-month low of $17.51 and a 12-month high of $27.23. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.25. The company has a market cap of $296.08 million, a PE ratio of 12.48 and a beta of 1.05. The company has a 50-day moving average price of $19.66 and a 200 day moving average price of $20.40.

MVB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, June 15th. Shareholders 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 yield of 2.96%. MVB Financial’s payout ratio is 36.36%.

Wall Street Analyst Weigh In

MVBF has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on MVB Financial from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Wednesday. Hovde Group lowered shares of MVB Financial from an “outperform” rating to a “market perform” rating and set a $21.00 price objective for the company. in a research note on Wednesday, May 15th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $26.25.

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.