Bank of America Corp DE Boosts Holdings in MVB Financial Corp. (NASDAQ:MVBF)

Bank of America Corp DE lifted its position in shares of MVB Financial Corp. (NASDAQ:MVBF - Free Report) by 85.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,652 shares of the company's stock after purchasing an additional 12,723 shares during the period. Bank of America Corp DE owned 0.21% of MVB Financial worth $572,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in MVB Financial in the fourth quarter valued at about $111,000. Wells Fargo & Company MN increased its holdings in MVB Financial by 20.3% during the 4th quarter. Wells Fargo & Company MN now owns 8,705 shares of the company's stock worth $180,000 after acquiring an additional 1,467 shares during the period. Empowered Funds LLC increased its holdings in MVB Financial by 5.1% during the 4th quarter. Empowered Funds LLC now owns 12,979 shares of the company's stock worth $269,000 after acquiring an additional 625 shares during the period. Trexquant Investment LP bought a new stake in MVB Financial during the 4th quarter worth approximately $311,000. Finally, Fourthstone LLC bought a new position in shares of MVB Financial in the 4th quarter worth $343,000. Hedge funds and other institutional investors own 52.72% of the company's stock.

Insider Buying and Selling

In other MVB Financial news, CEO Larry F. Mazza sold 6,962 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $17.49, for a total transaction of $121,765.38. Following the completion of the sale, the chief executive officer now directly owns 626,358 shares in the company, valued at approximately $10,955,001.42. This trade represents a 1.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph Ryan Rodriguez acquired 4,125 shares of MVB Financial stock in a transaction on Thursday, May 8th. The shares were purchased at an average price of $18.00 per share, with a total value of $74,250.00. Following the completion of the purchase, the insider now owns 4,125 shares in the company, valued at $74,250. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 11.66% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods decreased their price target on shares of MVB Financial from $26.00 to $25.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. Raymond James dropped their price target on shares of MVB Financial from $24.00 to $20.00 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd.

MVB Financial Trading Down 0.7%

Shares of NASDAQ:MVBF traded down $0.15 on Friday, hitting $20.35. The company had a trading volume of 49,052 shares, compared to its average volume of 31,718. The firm's 50-day simple moving average is $18.05 and its two-hundred day simple moving average is $18.89. MVB Financial Corp. has a 1 year low of $15.59 and a 1 year high of $25.24. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $264.45 million, a price-to-earnings ratio of 13.30 and a beta of 0.96.

MVB Financial (NASDAQ:MVBF - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.21 by $0.06. MVB Financial had a net margin of 8.78% and a return on equity of 6.76%. The firm had revenue of $33.68 million during the quarter, compared to analysts' expectations of $34.48 million. Equities analysts anticipate that MVB Financial Corp. will post 1.4 earnings per share for the current fiscal year.

MVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 1st will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.68 annualized dividend and a dividend yield of 3.34%. MVB Financial's payout ratio is 46.58%.

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.