JPMorgan Chase & Co. Increases MVB Financial (NASDAQ:MVBF) Price Target to $29.00

MVB Financial (NASDAQ:MVBF) had its price target increased by JPMorgan Chase & Co. from $25.00 to $29.00 in a research note released on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

Separately, Hovde Group downgraded shares of MVB Financial from an outperform rating to a market perform rating and set a $21.00 price objective for the company. in a research report on Wednesday, May 15th.

MVB Financial Stock Down 5.1 %

Shares of NASDAQ:MVBF opened at $20.93 on Wednesday. The company has a market capitalization of $269.79 million, a PE ratio of 11.19 and a beta of 1.05. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.25. MVB Financial has a twelve month low of $17.51 and a twelve month high of $26.64. The firm has a 50 day simple moving average of $19.88 and a 200-day simple moving average of $20.40.

MVB Financial (NASDAQ:MVBF) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.09). The company had revenue of $53.27 million for the quarter, compared to analysts’ expectations of $38.20 million. MVB Financial had a return on equity of 7.16% and a net margin of 9.28%. On average, equities analysts predict that MVB Financial will post 1.65 EPS for the current fiscal year.

MVB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 15th. Investors of record on Saturday, June 1st were given a $0.17 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.68 annualized dividend and a yield of 3.25%. MVB Financial’s dividend payout ratio (DPR) is 36.36%.

Institutional Trading of MVB Financial

Several institutional investors and hedge funds have recently bought and sold shares of MVBF. EntryPoint Capital LLC acquired a new position in MVB Financial in the 1st quarter valued at $107,000. SG Americas Securities LLC increased its stake in MVB Financial by 23.9% in the 4th quarter. SG Americas Securities LLC now owns 5,957 shares of the company’s stock valued at $134,000 after buying an additional 1,151 shares during the period. Acadian Asset Management LLC acquired a new position in MVB Financial in the 1st quarter valued at $180,000. Quadrature Capital Ltd acquired a new position in MVB Financial in the 4th quarter valued at $231,000. Finally, Empowered Funds LLC acquired a new position in MVB Financial in the 1st quarter valued at $248,000. Hedge funds and other institutional investors own 52.72% of the company’s stock.

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.