JPMorgan Chase & Co. Increases MVB Financial (NASDAQ:MVBF) Price Target to $29.00

MVB Financial (NASDAQ:MVBF) had its price objective boosted by JPMorgan Chase & Co. from $25.00 to $29.00 in a research note issued to investors on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Separately, Hovde Group cut shares of MVB Financial from an outperform rating to a market perform rating and set a $21.00 price target for the company. in a research note on Wednesday, May 15th.

MVB Financial Stock Down 5.1 %

MVB Financial stock opened at $20.93 on Wednesday. The company has a market cap of $269.79 million, a P/E ratio of 11.19 and a beta of 1.05. MVB Financial has a 1-year low of $17.51 and a 1-year high of $26.64. The company has a fifty day simple moving average of $19.88 and a 200 day simple moving average of $20.40. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.25.

MVB Financial (NASDAQ:MVBF) last released its earnings results on Monday, July 29th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.09). The business had revenue of $53.27 million during the quarter, compared to the consensus estimate of $38.20 million. MVB Financial had a net margin of 9.28% and a return on equity of 7.16%. Research analysts anticipate that MVB Financial will post 1.65 earnings per share for the current fiscal year.

MVB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date was Friday, May 31st. MVB Financial’s dividend payout ratio is currently 36.36%.

Institutional Trading of MVB Financial

A number of hedge funds have recently modified their holdings of the stock. Rhumbline Advisers lifted its stake in shares of MVB Financial by 3.2% during the 2nd quarter. Rhumbline Advisers now owns 17,888 shares of the company’s stock worth $333,000 after buying an additional 549 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of MVB Financial by 23.9% during the 4th quarter. SG Americas Securities LLC now owns 5,957 shares of the company’s stock worth $134,000 after buying an additional 1,151 shares during the last quarter. Boston Partners lifted its stake in shares of 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 buying an additional 1,793 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of MVB Financial by 11.7% during the 4th quarter. Cerity Partners LLC now owns 31,216 shares of the company’s stock worth $704,000 after buying an additional 3,282 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of MVB Financial during the 1st quarter worth about $107,000. Institutional investors and hedge funds 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.