Mvb Financial (NASDAQ:MVBF) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded MVB Financial from “strong sell” to “hold,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $32.75.
• MVB Financial reported strong quarterly results, posting $0.93 in earnings per share versus the $0.34 consensus estimate and revenue of $50.73 million, ahead of the $36.94 million estimate.
• The stock opened at $30.59, near its 52-week high of $31.99, and institutional investors own 52.72% of outstanding shares.

Mvb Financial (NASDAQ:MVBF - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Monday, Zacks reports.

Several other equities analysts have also recently weighed in on the company. Weiss Ratings raised Mvb Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, July 2nd. TD Cowen raised their target price on Mvb Financial from $32.00 to $34.00 and gave the company a "buy" rating in a report on Wednesday, July 29th. Wall Street Zen raised Mvb Financial from a "sell" rating to a "hold" rating in a research report on Monday, June 1st. Finally, Keefe, Bruyette & Woods upped their price target on Mvb Financial from $32.00 to $34.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $32.75.

Mvb Financial Price Performance

Shares of Mvb Financial stock opened at $30.59 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $29.93 and a 200-day simple moving average of $27.63. The stock has a market capitalization of $396.69 million, a price-to-earnings ratio of 10.33 and a beta of 0.81. Mvb Financial has a 1-year low of $23.58 and a 1-year high of $31.99.

Mvb Financial (NASDAQ:MVBF - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.34 by $0.59. Mvb Financial had a net margin of 17.53% and a return on equity of 2.86%. The firm had revenue of $50.73 million for the quarter, compared to the consensus estimate of $36.94 million. On average, sell-side analysts expect that Mvb Financial will post 1.63 earnings per share for the current year.

Institutional Investors Weigh In On Mvb Financial

A number of institutional investors have recently bought and sold shares of MVBF. BlackRock Inc. bought a new stake in Mvb Financial in the 2nd quarter valued at $30,152,000. Wellington Management Group LLP lifted its holdings in shares of Mvb Financial by 56.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,782,385 shares of the company's stock worth $44,667,000 after acquiring an additional 643,551 shares during the period. Basswood Capital Management L.L.C. acquired a new stake in shares of Mvb Financial during the 2nd quarter valued at about $7,477,000. Ameriprise Financial Inc. acquired a new stake in shares of Mvb Financial during the 3rd quarter valued at about $4,716,000. Finally, Kennedy Capital Management LLC bought a new stake in Mvb Financial in the fourth quarter valued at about $3,118,000. Institutional investors and hedge funds own 52.72% of the company's stock.

Mvb Financial Company Profile

MVB Financial Corp is a bank holding company based in Fairmont, West Virginia, serving individuals and businesses through its subsidiary, MVB Bank, Inc The company operates under a “Local First Banking” philosophy, emphasizing personalized service across its branch network. Its core business activities include deposit-taking, commercial lending, residential mortgage origination, and wealth management services.

On the deposit side, MVB Bank offers a range of products such as checking and savings accounts, money market accounts, and certificates of deposit.

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