Mvb Financial (NASDAQ:MVBF) Releases Earnings Results, Misses Estimates By $0.38 EPS

Key Points

• MVB Financial reported quarterly EPS of $0.03, missing the $0.41 consensus estimate by $0.38, while revenue of $40.43 million exceeded expectations of $39.10 million.
• The stock rose 0.3% to $29.74 following the results. Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $33.67.
• The company declared a quarterly dividend of $0.17 per share, equivalent to $0.68 annually and a 2.3% yield; its payout ratio is 22.97%.

Mvb Financial (NASDAQ:MVBF - Get Free Report) posted its earnings results on Thursday. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.38), FiscalAI reports. The firm had revenue of $40.43 million during the quarter, compared to the consensus estimate of $39.10 million. Mvb Financial had a return on equity of 2.86% and a net margin of 17.53%.

Mvb Financial Stock Up 0.3%

NASDAQ:MVBF traded up $0.10 during midday trading on Thursday, reaching $29.74. The company had a trading volume of 56,935 shares, compared to its average volume of 48,370. Mvb Financial has a 12-month low of $23.99 and a 12-month high of $31.99. The stock's fifty day simple moving average is $30.07 and its 200-day simple moving average is $28.08. 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 market capitalization of $385.67 million, a price-to-earnings ratio of 10.05 and a beta of 0.87.

Mvb Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 1st. Mvb Financial's dividend payout ratio is currently 22.97%.

Analyst Upgrades and Downgrades

MVBF has been the subject of several research reports. Weiss Ratings reissued a "buy (b)" rating on shares of Mvb Financial in a research report on Tuesday, September 29th. Keefe, Bruyette & Woods increased their target price on Mvb Financial from $32.00 to $34.00 and gave the company an "outperform" rating in a research report on Thursday, August 6th. TD Cowen lifted their price target on shares of Mvb Financial from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. Finally, Zacks Research raised shares of Mvb Financial from a "strong sell" rating to a "hold" rating in a research report on Monday, September 7th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $33.67.

About Mvb Financial

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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