Empowered Funds LLC Makes New $1.18 Million Investment in Mvb Financial Corp. $MVBF

Key Points

• Empowered Funds LLC acquired 40,816 shares of MVB Financial valued at approximately $1.18 million, representing about 0.31% of the company. Institutional investors collectively own 52.72% of MVBF.
• Analyst sentiment is mostly positive: MVBF has a consensus rating of “Moderate Buy” and an average price target of $32.75, with Keefe, Bruyette & Woods and TD Cowen both raising their targets to $34.
• MVB Financial reported quarterly EPS of $0.93, well above the $0.34 consensus estimate, on revenue of $50.73 million. The company also declared a quarterly dividend of $0.17 per share, equivalent to a 2.2% annualized yield.

Empowered Funds LLC bought a new position in shares of Mvb Financial Corp. (NASDAQ:MVBF - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 40,816 shares of the company's stock, valued at approximately $1,184,000. Empowered Funds LLC owned approximately 0.31% of Mvb Financial as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its holdings in Mvb Financial by 5.4% during the first quarter. Goldman Sachs Group Inc. now owns 62,462 shares of the company's stock worth $1,082,000 after purchasing an additional 3,213 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Mvb Financial in the 1st quarter valued at $230,000. Strs Ohio purchased a new position in shares of Mvb Financial in the 1st quarter valued at $132,000. Geode Capital Management LLC raised its stake in Mvb Financial by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 277,417 shares of the company's stock worth $6,252,000 after acquiring an additional 2,160 shares in the last quarter. Finally, Quantinno Capital Management LP purchased a new stake in Mvb Financial in the second quarter valued at $286,000. Hedge funds and other institutional investors own 52.72% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on MVBF shares. Keefe, Bruyette & Woods lifted their target price on Mvb Financial from $32.00 to $34.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. Zacks Research downgraded Mvb Financial from a "hold" rating to a "strong sell" rating in a research note on Monday, June 29th. Weiss Ratings raised Mvb Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, July 2nd. Wall Street Zen raised Mvb Financial from a "sell" rating to a "hold" rating in a report on Monday, June 1st. Finally, TD Cowen lifted their target price 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. Four 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 stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $32.75.

Mvb Financial Trading Up 1.0%

Shares of Mvb Financial stock opened at $31.23 on Friday. The firm has a market cap of $405.05 million, a price-to-earnings ratio of 10.55 and a beta of 0.81. Mvb Financial Corp. has a 52-week low of $23.58 and a 52-week high of $31.99. The company's 50-day simple moving average is $29.86 and its 200-day simple moving average is $27.59. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.16.

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

Mvb Financial Announces Dividend

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source