61,345 Shares in Mvb Financial Corp. $MVBF Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 61,345 shares of MVB Financial valued at approximately $1.78 million, giving it a 0.48% stake. Institutional investors collectively own 52.72% of the company.
• MVB Financial reported quarterly earnings of $0.93 per share, beating estimates of $0.34, while revenue of $50.73 million also exceeded forecasts. The company announced a quarterly dividend of $0.17, representing a 2.2% annualized yield.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $32.75, compared with the stock’s reported price of $30.59.

Bank of New York Mellon Corp acquired 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 filing with the SEC. The firm acquired 61,345 shares of the company's stock, valued at approximately $1,780,000. Bank of New York Mellon Corp owned approximately 0.48% of Mvb Financial at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its position in shares of Mvb Financial by 6.3% during the first quarter. Bank of America Corp DE now owns 11,627 shares of the company's stock worth $289,000 after acquiring an additional 686 shares during the period. Strs Ohio increased its stake in shares of Mvb Financial by 8.5% during the fourth quarter. Strs Ohio now owns 8,900 shares of the company's stock valued at $230,000 after buying an additional 700 shares during the period. Quantinno Capital Management LP raised its holdings in shares of Mvb Financial by 2.6% in the first quarter. Quantinno Capital Management LP now owns 28,537 shares of the company's stock valued at $709,000 after acquiring an additional 722 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Mvb Financial by 3.6% in the fourth quarter. AQR Capital Management LLC now owns 27,396 shares of the company's stock valued at $708,000 after acquiring an additional 958 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Mvb Financial by 2,673.2% in the third quarter. Russell Investments Group Ltd. now owns 1,137 shares of the company's stock worth $28,000 after acquiring an additional 1,096 shares during the period. 52.72% of the stock is owned by hedge funds and other institutional investors.

Mvb Financial Trading Down 2.0%

Mvb Financial stock opened at $30.59 on Wednesday. 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 stock has a market cap of $396.69 million, a PE ratio of 10.33 and a beta of 0.81. The stock has a 50-day moving average of $29.93 and a two-hundred day moving average of $27.63. Mvb Financial Corp. has a one year low of $23.58 and a one year high of $31.99.

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

Mvb Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.17 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.68 dividend on an annualized basis and a yield of 2.2%. Mvb Financial's dividend payout ratio (DPR) is 22.97%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MVBF. Weiss Ratings raised shares of Mvb Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, July 2nd. Keefe, Bruyette & Woods lifted their price objective on shares of Mvb Financial from $32.00 to $34.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. TD Cowen upped their target price on Mvb Financial from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Wednesday, July 29th. Zacks Research lowered Mvb Financial from a "hold" rating to a "strong sell" rating in a research report on Monday, June 29th. Finally, Wall Street Zen upgraded Mvb Financial from a "sell" rating to a "hold" rating in a research note on Monday, June 1st. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.75.

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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