Cerity Partners LLC Raises Holdings in MVB Financial Corp. (NASDAQ:MVBF)

Cerity Partners LLC increased its position in shares of MVB Financial Corp. (NASDAQ:MVBF) by 11.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,216 shares of the company’s stock after buying an additional 3,282 shares during the period. Cerity Partners LLC owned about 0.25% of MVB Financial worth $704,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new position in shares of MVB Financial during the fourth quarter valued at approximately $736,000. SG Americas Securities LLC raised its stake in MVB Financial by 23.9% in the fourth quarter. SG Americas Securities LLC now owns 5,957 shares of the company’s stock valued at $134,000 after buying an additional 1,151 shares during the last quarter. Wellington Management Group LLP boosted its holdings in MVB Financial by 4.1% in the third quarter. Wellington Management Group LLP now owns 1,304,617 shares of the company’s stock worth $29,458,000 after acquiring an additional 51,342 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of MVB Financial by 101.0% during the third quarter. New York State Common Retirement Fund now owns 4,795 shares of the company’s stock worth $108,000 after acquiring an additional 2,409 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of MVB Financial by 4.0% during the third quarter. Bank of New York Mellon Corp now owns 84,867 shares of the company’s stock valued at $1,916,000 after acquiring an additional 3,261 shares in the last quarter. 52.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MVBF has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of MVB Financial from $30.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. Keefe, Bruyette & Woods reduced their target price on MVB Financial from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday, March 1st.

MVB Financial Price Performance

NASDAQ:MVBF opened at $20.22 on Wednesday. The firm’s fifty day moving average is $21.10 and its two-hundred day moving average is $21.31. The firm has a market cap of $259.62 million, a price-to-earnings ratio of 8.43 and a beta of 1.00. MVB Financial Corp. has a one year low of $16.26 and a one year high of $27.23. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.94 and a current ratio of 0.94.

MVB Financial (NASDAQ:MVBF) last posted its earnings results on Wednesday, February 14th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.36 by $0.25. The firm had revenue of $35.55 million for the quarter, compared to analyst estimates of $38.05 million. MVB Financial had a return on equity of 8.12% and a net margin of 14.91%. Research analysts expect that MVB Financial Corp. will post 1.81 EPS for the current year.

MVB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend was Thursday, February 29th. MVB Financial’s dividend payout ratio (DPR) is 28.33%.

MVB Financial 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.