Prudential Financial Inc. Grows Stake in MVB Financial Corp. (NASDAQ:MVBF)

Prudential Financial Inc. increased its holdings in MVB Financial Corp. (NASDAQ:MVBF) by 8.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,315 shares of the company’s stock after purchasing an additional 4,200 shares during the period. Prudential Financial Inc.’s holdings in MVB Financial were worth $1,124,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in MVB Financial during the fourth quarter valued at approximately $111,000. Empowered Funds LLC grew its holdings in shares of MVB Financial by 5.1% in the fourth quarter. Empowered Funds LLC now owns 12,979 shares of the company’s stock valued at $269,000 after purchasing an additional 625 shares in the last quarter. Barclays PLC increased its position in MVB Financial by 99.5% in 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. Sippican Capital Advisors raised its stake in MVB Financial by 29.2% during the fourth quarter. Sippican Capital Advisors now owns 30,785 shares of the company’s stock valued at $637,000 after purchasing an additional 6,965 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in MVB Financial by 30.2% during the third quarter. JPMorgan Chase & Co. now owns 45,926 shares of the company’s stock valued at $889,000 after purchasing an additional 10,649 shares during the last quarter. 52.72% of the stock is currently owned by institutional investors.

Insider Transactions at MVB Financial

In related news, insider Michael Louis Giorgio purchased 5,700 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was bought at an average cost of $17.60 per share, with a total value of $100,320.00. Following the completion of the acquisition, the insider now owns 7,504 shares of the company’s stock, valued at $132,070.40. The trade was a 315.96 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders bought a total of 7,400 shares of company stock worth $129,574 over the last three months. 11.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Raymond James reduced their price objective on MVB Financial from $24.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods dropped their price objective on shares of MVB Financial from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd.

MVB Financial Price Performance

Shares of MVBF stock opened at $16.39 on Monday. The company has a market cap of $212.23 million, a P/E ratio of 10.71 and a beta of 0.89. 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 stock’s 50-day moving average is $18.48 and its 200 day moving average is $19.67. MVB Financial Corp. has a 1-year low of $15.84 and a 1-year high of $25.24.

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

MVB Financial Announces Dividend

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

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.