Bridgeway Capital Management LLC Sells 34,375 Shares of MVB Financial Corp. (NASDAQ:MVBF)

Bridgeway Capital Management LLC cut its stake in MVB Financial Corp. (NASDAQ:MVBF - Free Report) by 18.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 150,179 shares of the company's stock after selling 34,375 shares during the quarter. Bridgeway Capital Management LLC owned about 1.16% of MVB Financial worth $3,109,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. TimesSquare Capital Management LLC grew its holdings in MVB Financial by 19.3% during the 4th quarter. TimesSquare Capital Management LLC now owns 924,053 shares of the company's stock valued at $19,128,000 after buying an additional 149,464 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of MVB Financial by 5.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 388,990 shares of the company's stock valued at $8,052,000 after purchasing an additional 20,992 shares during the last quarter. Banco Santander S.A. purchased a new position in shares of MVB Financial during the fourth quarter worth approximately $7,558,000. Northern Trust Corp boosted its position in MVB Financial by 3.6% during 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 during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of MVB Financial by 29.8% during the fourth quarter. Bank of New York Mellon Corp now owns 81,969 shares of the company's stock valued at $1,697,000 after buying an additional 18,825 shares during the last quarter. 52.72% of the stock is currently owned by institutional investors.

MVB Financial Stock Down 0.4%

MVBF traded down $0.07 on Wednesday, hitting $18.45. The company had a trading volume of 2,266 shares, compared to its average volume of 29,316. MVB Financial Corp. has a 52-week low of $15.59 and a 52-week high of $25.24. The stock has a fifty day simple moving average of $17.04 and a 200-day simple moving average of $19.15. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market capitalization of $238.93 million, a P/E ratio of 12.06 and a beta of 0.92.

MVB Financial (NASDAQ:MVBF - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.06. The company had revenue of $33.68 million for the quarter, compared to analysts' expectations of $34.48 million. MVB Financial had a return on equity of 6.76% and a net margin of 8.78%. As a group, equities analysts expect 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 was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.69%. The ex-dividend date was Friday, February 28th. MVB Financial's payout ratio is currently 46.58%.

Insiders Place Their Bets

In other MVB Financial news, insider Michael Louis Giorgio acquired 5,700 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average cost of $17.60 per share, with a total value of $100,320.00. Following the completion of the transaction, the insider now directly owns 7,504 shares of the company's stock, valued at approximately $132,070.40. This represents a 315.96% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph Ryan Rodriguez bought 4,125 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was acquired at an average cost of $18.00 per share, with a total value of $74,250.00. Following the transaction, the insider now owns 4,125 shares in the company, valued at $74,250. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 12,650 shares of company stock worth $225,367. 11.66% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MVBF has been the topic of a number of analyst reports. Raymond James decreased their price target on MVB Financial from $24.00 to $20.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods lowered their price target on shares of MVB Financial from $26.00 to $25.00 and set an "outperform" rating for the company in a report on Monday, March 3rd.

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.