Bank of New York Mellon Corp Raises Position in MVB Financial Corp. (NASDAQ:MVBF)

Bank of New York Mellon Corp raised its holdings in shares of MVB Financial Corp. (NASDAQ:MVBF) by 29.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,969 shares of the company’s stock after acquiring an additional 18,825 shares during the quarter. Bank of New York Mellon Corp’s holdings in MVB Financial were worth $1,697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. SG Americas Securities LLC purchased a new position in shares of MVB Financial during the 4th quarter valued at $111,000. Empowered Funds LLC lifted its stake in shares of MVB Financial by 4.5% during the 3rd quarter. Empowered Funds LLC now owns 12,354 shares of the company’s stock valued at $239,000 after buying an additional 536 shares in the last quarter. Natixis Advisors LLC purchased a new position in shares of MVB Financial during the 3rd quarter valued at $242,000. Martingale Asset Management L P purchased a new position in shares of MVB Financial during the 3rd quarter valued at $376,000. Finally, Barclays PLC lifted its stake in shares of MVB Financial by 99.5% during the 3rd quarter. Barclays PLC now owns 24,436 shares of the company’s stock valued at $474,000 after buying an additional 12,190 shares in the last quarter. Hedge funds and other institutional investors own 52.72% of the company’s stock.

Insiders Place Their Bets

In other MVB Financial news, insider Michael Louis Giorgio bought 5,700 shares of MVB Financial stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost of $17.60 per share, for a total transaction of $100,320.00. Following the acquisition, the insider now directly owns 7,504 shares in the company, valued at approximately $132,070.40. This represents a 315.96 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders have purchased a total of 7,400 shares of company stock worth $129,574 in the last 90 days. 11.10% of the stock is currently owned by corporate insiders.

MVB Financial Stock Down 1.0 %

Shares of MVBF stock opened at $17.34 on Friday. The stock has a market cap of $224.54 million, a P/E ratio of 11.33 and a beta of 1.03. MVB Financial Corp. has a 52 week low of $16.81 and a 52 week high of $25.24. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.24. The company’s fifty day simple moving average is $18.91 and its two-hundred day simple moving average is $19.87.

MVB Financial (NASDAQ:MVBF) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.33 by $0.39. The business had revenue of $46.18 million for the quarter, compared to analysts’ expectations of $33.60 million. MVB Financial had a net margin of 8.78% and a return on equity of 6.76%. Analysts predict that MVB Financial Corp. will post 1.4 EPS for the current fiscal year.

MVB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend was Friday, February 28th. MVB Financial’s payout ratio is currently 44.44%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lowered their target price on shares of MVB Financial from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd.

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.