BlackRock Inc. Buys New Shares in Mvb Financial Corp. $MVBF

BlackRock Inc. bought a new position in Mvb Financial Corp. (NASDAQ:MVBF - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,039,372 shares of the company's stock, valued at approximately $30,152,000. BlackRock Inc. owned about 8.09% of Mvb Financial at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in Mvb Financial by 56.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,782,385 shares of the company's stock valued at $44,667,000 after purchasing an additional 643,551 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Mvb Financial by 4.0% in the first quarter. Dimensional Fund Advisors LP now owns 506,608 shares of the company's stock worth $12,580,000 after purchasing an additional 19,650 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Mvb Financial by 0.8% in 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 last quarter. Ameriprise Financial Inc. acquired a new stake in shares of Mvb Financial during the third quarter worth about $4,716,000. Finally, Kennedy Capital Management LLC acquired a new stake in shares of Mvb Financial during the fourth quarter worth about $3,118,000. Institutional investors and hedge funds own 52.72% of the company's stock.

Mvb Financial Trading Down 0.1%

Mvb Financial stock opened at $30.25 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16. Mvb Financial Corp. has a 12 month low of $23.58 and a 12 month high of $31.99. The stock's 50 day simple moving average is $29.72 and its two-hundred day simple moving average is $27.52. The firm has a market cap of $392.34 million, a PE ratio of 10.22 and a beta of 0.81.

Mvb Financial (NASDAQ:MVBF - Get Free Report) last posted its 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. Mvb Financial had a net margin of 17.53% and a return on equity of 2.86%. The firm had revenue of $50.73 million during the quarter, compared to analyst estimates of $36.94 million. Analysts anticipate that Mvb Financial Corp. will post 1.63 earnings per share for the current year.

Mvb Financial Dividend Announcement

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

Analyst Ratings Changes

MVBF has been the topic of several research reports. Zacks Research downgraded shares of Mvb Financial from a "hold" rating to a "strong sell" rating in a report on Monday, June 29th. 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 research note on Thursday, August 6th. Weiss Ratings raised shares of Mvb Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, July 2nd. TD Cowen upped their price objective on shares of Mvb Financial from $32.00 to $34.00 and gave the company a "buy" rating in a report on Wednesday, July 29th. Finally, Wall Street Zen upgraded shares of 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 given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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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