TimesSquare Capital Management LLC lowered its stake in Mvb Financial Corp. (NASDAQ:MVBF - Free Report) by 16.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 775,770 shares of the company's stock after selling 148,283 shares during the period. TimesSquare Capital Management LLC owned about 5.99% of Mvb Financial worth $13,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its position in Mvb Financial by 5.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 388,990 shares of the company's stock valued at $8,052,000 after purchasing an additional 20,992 shares in the last quarter. Northern Trust Corp raised its position in Mvb Financial by 3.6% in the 4th quarter. Northern Trust Corp now owns 99,258 shares of the company's stock valued at $2,055,000 after purchasing an additional 3,409 shares in the last quarter. Bank of New York Mellon Corp raised its position in Mvb Financial by 29.8% in the 4th quarter. Bank of New York Mellon Corp now owns 81,969 shares of the company's stock valued at $1,697,000 after purchasing an additional 18,825 shares in the last quarter. AA Financial Advisors LLC acquired a new stake in Mvb Financial in the 1st quarter valued at about $1,299,000. Finally, JPMorgan Chase & Co. raised its position in Mvb Financial by 39.9% in the 4th quarter. JPMorgan Chase & Co. now owns 64,244 shares of the company's stock valued at $1,330,000 after purchasing an additional 18,318 shares in the last quarter. Institutional investors and hedge funds own 52.72% of the company's stock.
Insider Activity at Mvb Financial
In other news, insider Joseph Ryan Rodriguez purchased 4,125 shares of the business's stock in a transaction on Thursday, May 8th. The shares were bought at an average price of $18.00 per share, with a total value of $74,250.00. Following the completion of the transaction, the insider directly owned 4,125 shares in the company, valued at approximately $74,250. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Larry F. Mazza sold 6,962 shares of Mvb Financial stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $17.49, for a total value of $121,765.38. Following the transaction, the chief executive officer directly owned 626,358 shares in the company, valued at approximately $10,955,001.42. This trade represents a 1.10% decrease in their position. The disclosure for this sale can be found here. Insiders own 11.66% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. Raymond James Financial reissued an "outperform" rating and set a $25.00 target price (up previously from $20.00) on shares of Mvb Financial in a research report on Tuesday, July 8th. Wall Street Zen lowered Mvb Financial from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Finally, Hovde Group raised Mvb Financial from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $21.50 to $28.00 in a research report on Monday. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.75.
View Our Latest Research Report on MVBF
Mvb Financial Stock Up 3.2%
Shares of NASDAQ MVBF traded up $0.76 during midday trading on Friday, hitting $24.44. 63,043 shares of the company's stock were exchanged, compared to its average volume of 36,147. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.92 and a quick ratio of 0.92. Mvb Financial Corp. has a twelve month low of $15.59 and a twelve month high of $25.24. The company has a market cap of $317.41 million, a PE ratio of 16.74 and a beta of 0.99. The firm's fifty day simple moving average is $20.78 and its 200-day simple moving average is $19.09.
Mvb Financial (NASDAQ:MVBF - Get Free Report) last released its quarterly 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. The company had revenue of $33.68 million for the quarter, compared to analyst estimates of $34.48 million. Mvb Financial had a return on equity of 6.31% and a net margin of 8.68%. Research analysts predict that Mvb Financial Corp. will post 1.4 EPS for the current fiscal year.
Mvb Financial Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend was Friday, May 30th. Mvb Financial's dividend payout ratio (DPR) is 46.58%.
About Mvb Financial
(
Free Report)
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.
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