Mvb Financial Corp. $MVBF Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its stake in Mvb Financial Corp. by 1.1%, now holding approximately 8.87% of the company's shares worth $19.89 million.
• Mvb Financial reported earnings of $0.15 per share, missing analysts' expectations of $0.31, with a revenue of $33.72 million for the last quarter.
• The company announced a quarterly dividend of $0.17 per share, with an annualized yield of 2.8%, to be paid on September 15th.

Wellington Management Group LLP cut its stake in Mvb Financial Corp. (NASDAQ:MVBF - Free Report) by 1.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,148,293 shares of the company's stock after selling 13,356 shares during the quarter. Wellington Management Group LLP owned about 8.87% of Mvb Financial worth $19,888,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. American Century Companies Inc. grew its position in shares of Mvb Financial by 13.7% in the 1st quarter. American Century Companies Inc. now owns 111,369 shares of the company's stock worth $1,929,000 after buying an additional 13,418 shares during the last quarter. Nuveen LLC purchased a new position in shares of Mvb Financial in the 1st quarter worth approximately $815,000. Sippican Capital Advisors grew its position in shares of Mvb Financial by 24.0% in the 1st quarter. Sippican Capital Advisors now owns 38,175 shares of the company's stock worth $661,000 after buying an additional 7,390 shares during the last quarter. AA Financial Advisors LLC purchased a new position in shares of Mvb Financial in the 1st quarter worth approximately $1,299,000. Finally, McKinley Carter Wealth Services Inc. grew its position in shares of Mvb Financial by 15.5% in the 1st quarter. McKinley Carter Wealth Services Inc. now owns 29,876 shares of the company's stock worth $517,000 after buying an additional 4,000 shares during the last quarter. 52.72% of the stock is currently owned by hedge funds and other institutional investors.

Mvb Financial Stock Performance

NASDAQ:MVBF traded up $0.55 during trading hours on Friday, hitting $24.40. 40,587 shares of the company were exchanged, compared to its average volume of 55,379. The stock has a market capitalization of $310.61 million, a price-to-earnings ratio of 18.77 and a beta of 1.01. Mvb Financial Corp. has a 52-week low of $15.59 and a 52-week high of $25.13. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.93 and a quick ratio of 0.93. The company's 50 day moving average price is $23.27 and its 200-day moving average price is $19.91.

Mvb Financial (NASDAQ:MVBF - Get Free Report) last released its earnings results on Monday, July 28th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.16). Mvb Financial had a return on equity of 5.60% and a net margin of 7.84%.The company had revenue of $33.72 million for the quarter, compared to analysts' expectations of $35.80 million. As a group, research analysts forecast that Mvb Financial Corp. will post 1.4 earnings per share for the current year.

Mvb Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, August 29th. Mvb Financial's payout ratio is presently 52.31%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MVBF. Raymond James Financial reaffirmed an "outperform" rating and issued a $25.00 price objective (up previously from $20.00) on shares of Mvb Financial in a research report on Tuesday, July 8th. Wall Street Zen downgraded shares of Mvb Financial from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Hovde Group lowered their target price on shares of Mvb Financial from $28.00 to $27.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Mvb Financial from $23.00 to $25.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $25.67.

About Mvb Financial

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.