Basswood Capital Management L.L.C. purchased a new stake in Mvb Financial Corp. (NASDAQ:MVBF - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 257,731 shares of the company's stock, valued at approximately $7,477,000. Basswood Capital Management L.L.C. owned 1.99% of Mvb Financial at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its position in shares of Mvb Financial by 5.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 62,462 shares of the company's stock valued at $1,082,000 after acquiring an additional 3,213 shares in the last quarter. Empowered Funds LLC raised its position in Mvb Financial by 9.0% in the first quarter. Empowered Funds LLC now owns 14,144 shares of the company's stock worth $245,000 after purchasing an additional 1,165 shares in the last quarter. Jane Street Group LLC acquired a new position in Mvb Financial in the first quarter worth about $230,000. Strs Ohio bought a new position in Mvb Financial during the first quarter worth about $132,000. Finally, Geode Capital Management LLC lifted its stake in Mvb Financial by 0.8% during the second quarter. Geode Capital Management LLC now owns 277,417 shares of the company's stock worth $6,252,000 after purchasing an additional 2,160 shares during the period. 52.72% of the stock is owned by institutional investors.
Mvb Financial Stock Down 0.6%
Shares of MVBF opened at $29.95 on Thursday. The company has a market capitalization of $388.45 million, a P/E ratio of 10.12 and a beta of 0.80. Mvb Financial Corp. has a one year low of $23.58 and a one year high of $31.99. The business's 50 day simple moving average is $29.52 and its 200-day simple moving average is $27.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.92 and a quick ratio of 0.92.
Mvb Financial (NASDAQ:MVBF - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.93 earnings per share for the quarter, beating 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 firm had revenue of $50.73 million during the quarter, compared to analysts' expectations of $36.94 million. As a group, sell-side analysts predict that Mvb Financial Corp. will post 1.63 EPS for the current fiscal year.
Mvb Financial Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued 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 is Tuesday, September 1st. Mvb Financial's dividend payout ratio is presently 22.97%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on MVBF shares. Raymond James Financial cut Mvb Financial from an "outperform" rating to a "market perform" rating in a report on Thursday, April 30th. Zacks Research lowered Mvb Financial from a "hold" rating to a "strong sell" rating in a research note on Monday, June 29th. Keefe, Bruyette & Woods upped their price target on Mvb Financial from $32.00 to $34.00 and gave the company an "outperform" rating in a research report on Thursday, August 6th. Wall Street Zen upgraded Mvb Financial from a "sell" rating to a "hold" rating in a research report on Monday, June 1st. Finally, Weiss Ratings upgraded Mvb Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, July 2nd. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $32.75.
Get Our Latest Report on MVBF
Mvb Financial Company Profile
(
Free Report)
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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