112,129 Shares in Mvb Financial Corp. $MVBF Acquired by Diamond Hill Capital Management LLC Investment Advisor

Key Points

• Diamond Hill Capital Management acquired 112,129 shares of MVB Financial in the second quarter, valued at approximately $3.25 million and representing 0.87% of the company. Institutional investors and hedge funds collectively own 52.72% of the stock.
• MVB Financial reported quarterly EPS of $0.93, substantially beating the $0.34 consensus estimate, while revenue reached $50.73 million versus expectations of $36.94 million.
• The company pays a quarterly dividend of $0.17, or $0.68 annually, yielding about 2.2%. Analysts maintain a “Moderate Buy” consensus with an average price target of $32.75, although ratings range from “Strong Sell” to “Outperform.”

Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of Mvb Financial Corp. (NASDAQ:MVBF - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 112,129 shares of the company's stock, valued at approximately $3,253,000. Diamond Hill Capital Management LLC Investment Advisor owned about 0.87% of Mvb Financial as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Diamond Hill Capital Management Inc. acquired a new position in shares of Mvb Financial during the fourth quarter worth $1,665,000. Dimensional Fund Advisors LP lifted its holdings in shares of Mvb Financial by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 506,608 shares of the company's stock valued at $12,580,000 after purchasing an additional 19,650 shares during the last quarter. Strs Ohio boosted its position in shares of Mvb Financial by 8.5% in the 4th quarter. Strs Ohio now owns 8,900 shares of the company's stock worth $230,000 after purchasing an additional 700 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Mvb Financial by 200.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,870 shares of the company's stock worth $42,000 after buying an additional 1,248 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Mvb Financial during the 2nd quarter worth $32,000. 52.72% of the stock is currently owned by institutional investors and hedge funds.

Mvb Financial Stock Performance

Shares of NASDAQ MVBF opened at $30.69 on Tuesday. The company has a market capitalization of $398.05 million, a PE ratio of 10.37 and a beta of 0.80. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 0.92. The company's fifty day moving average price is $29.17 and its 200 day moving average price is $27.39. Mvb Financial Corp. has a 1 year low of $22.85 and a 1 year high of $31.99.

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

Mvb Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Monday, June 1st. Mvb Financial's payout ratio is presently 22.97%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MVBF. Keefe, Bruyette & Woods boosted their price target on Mvb Financial from $32.00 to $34.00 and gave the stock an "outperform" rating in a research note on Thursday, August 6th. Zacks Research lowered shares of Mvb Financial from a "hold" rating to a "strong sell" rating in a research report on Monday, June 29th. Wall Street Zen raised shares of Mvb Financial from a "sell" rating to a "hold" rating in a research report on Monday, June 1st. Weiss Ratings upgraded shares of Mvb Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, July 2nd. Finally, Raymond James Financial cut shares of Mvb Financial from an "outperform" rating to a "market perform" rating in a report on Thursday, April 30th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $32.75.

Mvb Financial 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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