MVB Financial (NASDAQ:MVBF) Given New $20.00 Price Target at Raymond James

MVB Financial (NASDAQ:MVBF) had its price target trimmed by Raymond James from $24.00 to $20.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

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

MVB Financial Price Performance

MVB Financial stock opened at $16.39 on Wednesday. The firm has a market capitalization of $212.23 million, a PE ratio of 10.71 and a beta of 0.89. MVB Financial has a 52 week low of $15.84 and a 52 week high of $25.24. The firm’s 50-day simple moving average is $18.48 and its 200 day simple moving average is $19.69. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.24.

MVB Financial (NASDAQ:MVBF) last announced its earnings results on Thursday, February 13th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.39. The company had revenue of $46.18 million during 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%. On average, equities research analysts predict that MVB Financial will post 1.4 EPS for the current fiscal year.

MVB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were paid a dividend of $0.17 per share. The ex-dividend date was Friday, February 28th. This represents a $0.68 annualized dividend and a dividend yield of 4.15%. MVB Financial’s dividend payout ratio is currently 44.44%.

Insider Activity

In other MVB Financial news, insider Michael Louis Giorgio acquired 5,700 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average price of $17.60 per share, for a total transaction of $100,320.00. Following the completion of the acquisition, the insider now directly owns 7,504 shares of the company’s stock, valued at $132,070.40. This trade represents a 315.96 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders bought a total of 7,400 shares of company stock valued at $129,574 over the last 90 days. Insiders own 11.10% of the company’s stock.

Hedge Funds Weigh In On MVB Financial

Several institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in MVB Financial by 30.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 45,926 shares of the company’s stock valued at $889,000 after buying an additional 10,649 shares during the period. Geode Capital Management LLC boosted its position in shares of MVB Financial by 2.3% in the third quarter. Geode Capital Management LLC now owns 265,272 shares of the company’s stock worth $5,136,000 after acquiring an additional 6,002 shares during the last quarter. Banco Santander S.A. purchased a new stake in MVB Financial in the fourth quarter valued at approximately $7,558,000. Barclays PLC increased its position in MVB Financial by 99.5% during the third quarter. Barclays PLC now owns 24,436 shares of the company’s stock worth $474,000 after purchasing an additional 12,190 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in MVB Financial by 5.1% during the fourth quarter. Empowered Funds LLC now owns 12,979 shares of the company’s stock worth $269,000 after purchasing an additional 625 shares during the period. 52.72% of the stock is currently owned by institutional investors and hedge funds.

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.