Keefe, Bruyette & Woods Raises MVB Financial (NASDAQ:MVBF) Price Target to $26.00

MVB Financial (NASDAQ:MVBF) had its price objective boosted by Keefe, Bruyette & Woods from $24.00 to $26.00 in a research note issued to investors on Wednesday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

MVB Financial Stock Down 0.1 %

NASDAQ:MVBF opened at $21.82 on Wednesday. The firm’s 50 day simple moving average is $20.46 and its 200 day simple moving average is $20.15. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.94. MVB Financial has a one year low of $17.51 and a one year high of $25.24. The company has a market cap of $282.35 million, a PE ratio of 15.25 and a beta of 1.08.

MVB Financial (NASDAQ:MVBF) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.19). MVB Financial had a return on equity of 6.29% and a net margin of 8.49%. The firm had revenue of $53.28 million for the quarter, compared to the consensus estimate of $35.90 million. On average, research analysts anticipate that MVB Financial will post 1.08 earnings per share for the current year.

MVB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, November 29th. This represents a $0.68 annualized dividend and a yield of 3.12%. MVB Financial’s payout ratio is 47.89%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC raised its holdings in MVB Financial by 4.5% during the 3rd quarter. Empowered Funds LLC now owns 12,354 shares of the company’s stock worth $239,000 after purchasing an additional 536 shares during the last quarter. Rhumbline Advisers increased its stake in shares of MVB Financial by 3.2% in the 2nd quarter. Rhumbline Advisers now owns 17,888 shares of the company’s stock valued at $333,000 after acquiring an additional 549 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of MVB Financial by 20.0% in the 2nd quarter. Acadian Asset Management LLC now owns 9,764 shares of the company’s stock valued at $181,000 after acquiring an additional 1,629 shares in the last quarter. Boston Partners increased its stake in shares of MVB Financial by 11.5% in the 1st quarter. Boston Partners now owns 17,447 shares of the company’s stock valued at $389,000 after acquiring an additional 1,793 shares in the last quarter. Finally, Sippican Capital Advisors increased its stake in shares of MVB Financial by 11.4% in the 3rd quarter. Sippican Capital Advisors now owns 23,820 shares of the company’s stock valued at $461,000 after acquiring an additional 2,440 shares in the last quarter. Institutional investors own 52.72% of the company’s stock.

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.