TimesSquare Capital Management LLC Lowers Position in Mvb Financial Corp. (NASDAQ:MVBF)

TimesSquare Capital Management LLC cut its holdings in Mvb Financial Corp. (NASDAQ:MVBF - Free Report) by 16.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 775,770 shares of the company's stock after selling 148,283 shares during the quarter. TimesSquare Capital Management LLC owned approximately 5.99% of Mvb Financial worth $13,436,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in shares of Mvb Financial by 5.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 388,990 shares of the company's stock valued at $8,052,000 after buying an additional 20,992 shares during the last quarter. Northern Trust Corp lifted its position in shares of Mvb Financial by 3.6% during the fourth quarter. Northern Trust Corp now owns 99,258 shares of the company's stock valued at $2,055,000 after buying an additional 3,409 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Mvb Financial by 29.8% during the fourth quarter. Bank of New York Mellon Corp now owns 81,969 shares of the company's stock valued at $1,697,000 after buying an additional 18,825 shares during the last quarter. AA Financial Advisors LLC purchased a new stake in shares of Mvb Financial during the first quarter valued at about $1,299,000. Finally, JPMorgan Chase & Co. raised its position in shares of 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 during the last quarter. 52.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MVBF. Raymond James Financial reaffirmed an "outperform" rating and issued a $25.00 price objective (up from $20.00) on shares of Mvb Financial in a research report on Tuesday, July 8th. Wall Street Zen lowered shares of Mvb Financial from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Hovde Group raised shares of Mvb Financial from a "market perform" rating to an "outperform" rating and increased their price objective for the company 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $26.75.

Insider Activity at Mvb Financial

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

Mvb Financial Stock Performance

Shares of Mvb Financial stock opened at $23.88 on Tuesday. The firm has a market capitalization of $310.20 million, a P/E ratio of 16.36 and a beta of 0.99. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average price of $20.44 and a 200 day moving average price of $19.01. Mvb Financial Corp. has a 52 week low of $15.59 and a 52 week high of $25.24.

Mvb Financial (NASDAQ:MVBF - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.06. Mvb Financial had a net margin of 8.68% and a return on equity of 6.31%. The company had revenue of $33.68 million for the quarter, compared to the consensus estimate of $34.48 million. Sell-side analysts expect that Mvb Financial Corp. will post 1.4 EPS for the current year.

Mvb Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Sunday, June 1st were issued a $0.17 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.68 annualized dividend and a yield of 2.85%. Mvb Financial's dividend payout ratio (DPR) is presently 46.58%.

Mvb Financial 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.

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