JPMorgan Chase & Co. Cuts MVB Financial (NASDAQ:MVBF) Price Target to $25.00

MVB Financial (NASDAQ:MVBF) had its price target reduced by JPMorgan Chase & Co. from $28.00 to $25.00 in a report released on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Separately, Keefe, Bruyette & Woods dropped their price objective 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 Stock Up 0.2 %

Shares of MVBF stock opened at $18.52 on Wednesday. The stock has a market cap of $237.80 million, a P/E ratio of 9.90 and a beta of 1.04. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a fifty day moving average price of $20.65 and a 200 day moving average price of $21.15. MVB Financial has a one year low of $16.43 and a one year high of $27.23.

MVB Financial (NASDAQ:MVBF) last posted its earnings results on Monday, April 29th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). The business had revenue of $57.86 million during 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 8.76%. Analysts predict that MVB Financial will post 1.64 earnings per share for the current year.

MVB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Thursday, February 29th. MVB Financial’s dividend payout ratio is presently 36.36%.

Institutional Trading of MVB Financial

Several hedge funds have recently modified their holdings of the stock. TimesSquare Capital Management LLC lifted its position in MVB Financial by 16.9% during the 4th quarter. TimesSquare Capital Management LLC now owns 615,935 shares of the company’s stock valued at $13,895,000 after purchasing an additional 88,975 shares during the period. Wellington Management Group LLP grew its position in shares of MVB Financial by 4.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,304,617 shares of the company’s stock worth $29,458,000 after buying an additional 51,342 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of MVB Financial in the 4th quarter valued at about $736,000. BNP Paribas Financial Markets raised its position 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 acquiring an additional 16,916 shares during the period. Finally, Sippican Capital Advisors acquired a new position in MVB Financial during the first quarter valued at approximately $308,000. 52.72% of the stock is owned by institutional investors.

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.