Keefe, Bruyette & Woods Boosts MVB Financial (NASDAQ:MVBF) Price Target to $26.00

MVB Financial (NASDAQ:MVBF) had its target price boosted by research analysts at Keefe, Bruyette & Woods from $24.00 to $26.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 19.05% from the stock’s previous close.

MVB Financial Stock Up 0.4 %

NASDAQ:MVBF opened at $21.84 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.94. The company’s fifty day moving average price is $20.46 and its 200-day moving average price is $20.15. MVB Financial has a 1-year low of $17.51 and a 1-year high of $25.24. The firm has a market capitalization of $282.61 million, a P/E ratio of 15.38 and a beta of 1.08.

MVB Financial (NASDAQ:MVBF) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.19). The company had revenue of $53.28 million for the quarter, compared to analyst estimates of $35.90 million. MVB Financial had a return on equity of 6.29% and a net margin of 8.49%. As a group, equities research analysts anticipate that MVB Financial will post 1.08 EPS for the current year.

Hedge Funds Weigh In On MVB Financial

Several institutional investors have recently made changes to their positions in MVBF. Vanguard Group Inc. grew its position in 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 buying an additional 29,237 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of MVB Financial by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 343,623 shares of the company’s stock worth $6,405,000 after acquiring an additional 18,649 shares in the last quarter. Geode Capital Management LLC grew its position in shares of MVB Financial by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 265,272 shares of the company’s stock valued at $5,136,000 after acquiring an additional 6,002 shares during the period. State Street Corp increased its stake in shares of MVB Financial by 2.9% in the 3rd quarter. State Street Corp now owns 225,727 shares of the company’s stock valued at $4,370,000 after purchasing an additional 6,274 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in MVB Financial by 25.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 70,492 shares of the company’s stock worth $1,314,000 after purchasing an additional 14,176 shares during the period. 52.72% of the stock is owned by hedge funds and other 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.