Mvb Financial (NASDAQ:MVBF) Price Target Cut to $31.00 by Analysts at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods cut MVB Financial’s price target from $34 to $31 but maintained an “outperform” rating; the new target implies 22.53% upside from the current share price.
• Analyst sentiment remains broadly positive: the consensus rating is “Moderate Buy,” with an average price target of $32.67 based on four Buy and two Hold ratings.
• MVB Financial reported quarterly EPS of $0.04, missing the $0.41 consensus estimate, while revenue of $40.43 million exceeded estimates of $39.10 million.

Mvb Financial (NASDAQ:MVBF - Get Free Report) had its price objective dropped by investment analysts at Keefe, Bruyette & Woods from $34.00 to $31.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Keefe, Bruyette & Woods's price objective would indicate a potential upside of 22.53% from the company's current price.

Several other research analysts have also issued reports on MVBF. Weiss Ratings restated a "buy (b)" rating on shares of Mvb Financial in a research report on Tuesday, September 29th. TD Cowen upped their price objective on Mvb Financial from $32.00 to $34.00 and gave the company a "buy" rating in a report on Wednesday, July 29th. Finally, Zacks Research upgraded Mvb Financial from a "strong sell" rating to a "hold" rating in a report on Monday, September 7th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $32.67.

Mvb Financial Stock Down 3.7%

Shares of NASDAQ:MVBF opened at $25.30 on Wednesday. Mvb Financial has a one year low of $23.99 and a one year high of $31.99. The company has a 50 day moving average of $29.79 and a 200-day moving average of $28.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $328.14 million, a price-to-earnings ratio of 15.15 and a beta of 0.92.

Mvb Financial (NASDAQ:MVBF - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.37). Mvb Financial had a net margin of 9.46% and a return on equity of 3.93%. The business had revenue of $40.43 million during the quarter, compared to the consensus estimate of $39.10 million. On average, sell-side analysts forecast that Mvb Financial will post 1.63 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pure Financial Advisors LLC bought a new stake in Mvb Financial during the 2nd quarter worth approximately $2,461,000. BlackRock Inc. acquired a new stake in Mvb Financial during the 2nd quarter worth approximately $30,152,000. Empowered Funds LLC acquired a new stake in Mvb Financial during the 2nd quarter worth approximately $1,184,000. Basswood Capital Management L.L.C. bought a new position in Mvb Financial in the second quarter valued at approximately $7,477,000. Finally, Bank of New York Mellon Corp bought a new position in Mvb Financial in the second quarter valued at approximately $1,780,000. 52.72% of the stock is currently owned by institutional investors.

Mvb Financial Company Profile

MVB Financial Corp. is a financial holding company headquartered in Fairmont, West Virginia. Its principal subsidiary, MVB Bank, provides banking and financial services to individuals, businesses and organizations through locations and digital channels.

MVB Bank offers personal and business deposit accounts, commercial and consumer lending, mortgage banking, treasury management and wealth-management services. The bank also focuses on serving technology-oriented companies, including businesses in the financial technology, payments and gaming industries, with specialized banking and financial solutions.

Founded in 1997, MVB has expanded beyond its West Virginia roots to serve customers across the Mid-Atlantic region and clients in select industries on a broader geographic basis.

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