Hsbc Holdings PLC Grows Holdings in Mvb Financial Corp. $MVBF

Hsbc Holdings PLC raised its position in Mvb Financial Corp. (NASDAQ:MVBF) by 42.4% in the first quarter, Holdings Channel reports. The institutional investor owned 24,257 shares of the company’s stock after purchasing an additional 7,219 shares during the period. Hsbc Holdings PLC’s holdings in Mvb Financial were worth $420,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in Mvb Financial by 5.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 388,990 shares of the company’s stock valued at $8,052,000 after buying an additional 20,992 shares in the last quarter. American Century Companies Inc. increased its holdings in Mvb Financial by 13.7% in the first quarter. American Century Companies Inc. now owns 111,369 shares of the company’s stock valued at $1,929,000 after buying an additional 13,418 shares in the last quarter. Northern Trust Corp increased its holdings in Mvb Financial by 3.6% in the fourth quarter. Northern Trust Corp now owns 99,258 shares of the company’s stock valued at $2,055,000 after buying an additional 3,409 shares in the last quarter. AA Financial Advisors LLC purchased a new position in Mvb Financial in the first quarter valued at $1,299,000. Finally, Nuveen LLC purchased a new position in Mvb Financial in the first quarter valued at $815,000. Hedge funds and other institutional investors own 52.72% of the company’s stock.

Wall Street Analysts Forecast Growth

MVBF has been the subject of a number of research reports. Keefe, Bruyette & Woods boosted their target price on shares of Mvb Financial from $23.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, August 4th. Hovde Group cut their target price on shares of Mvb Financial from $28.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday, July 31st. Wall Street Zen cut shares of Mvb Financial from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Finally, Raymond James Financial reissued an “outperform” rating and set a $25.00 target price (up previously from $20.00) on shares of Mvb Financial in a research note on Tuesday, July 8th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $25.67.

Mvb Financial Stock Down 1.6%

Shares of NASDAQ MVBF opened at $24.00 on Wednesday. Mvb Financial Corp. has a 12-month low of $15.59 and a 12-month high of $25.13. The stock has a market cap of $305.52 million, a PE ratio of 18.46 and a beta of 1.01. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average of $23.39 and a 200 day moving average of $19.97.

Mvb Financial (NASDAQ:MVBF) last announced its quarterly earnings data on Monday, July 28th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.16). Mvb Financial had a net margin of 7.84% and a return on equity of 5.60%. The business had revenue of $33.72 million for the quarter, compared to analysts’ expectations of $35.80 million. As a group, sell-side analysts predict that Mvb Financial Corp. will post 1.4 EPS for the current fiscal year.

Mvb Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, August 29th. Mvb Financial’s dividend payout ratio is currently 52.31%.

Mvb Financial Company 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.