Mvb Financial (NASDAQ:MVBF) Price Target Lowered to $27.00 at Hovde Group

Key Points

• Hovde Group has lowered its price target for Mvb Financial (NASDAQ:MVBF) from $28.00 to $27.00 while maintaining an "outperform" rating, indicating an expected upside of 18.94% from its current price.
• Despite recent downgrades, the stock has a consensus rating of "Moderate Buy" with an average target price of $26.50, receiving mixed reviews from various analysts.
• Mvb Financial's stock is currently trading at $22.70, with a 52-week range between $15.59 and $25.13, and the company recently reported earnings that missed consensus estimates.

Mvb Financial (NASDAQ:MVBF - Get Free Report) had its target price reduced by Hovde Group from $28.00 to $27.00 in a report released on Thursday, MarketBeat reports. The brokerage currently has an "outperform" rating on the stock. Hovde Group's target price suggests a potential upside of 18.06% from the company's previous close.

Other analysts have also recently issued reports about the company. Wall Street Zen raised Mvb Financial from a "sell" rating to a "hold" rating in a research report on Sunday, July 20th. Raymond James Financial reiterated an "outperform" rating and issued a $25.00 price target (up previously from $20.00) on shares of Mvb Financial in a research note on Tuesday, July 8th.

Mvb Financial Trading Up 2.9%

Shares of MVBF traded up $0.64 during trading hours on Thursday, reaching $22.87. 38,563 shares of the company traded hands, compared to its average volume of 42,364. The company's fifty day moving average price is $21.87 and its two-hundred day moving average price is $19.40. 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 market capitalization of $297.20 million, a price-to-earnings ratio of 17.57 and a beta of 1.01. Mvb Financial has a 12 month low of $15.59 and a 12 month high of $25.13.

Mvb Financial (NASDAQ:MVBF - Get Free Report) last released its quarterly 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 net margin of 7.84% and a return on equity of 5.58%. The firm had revenue of $33.72 million for the quarter, compared to the consensus estimate of $35.80 million. Equities research analysts predict that Mvb Financial will post 1.4 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Joseph Ryan Rodriguez acquired 4,125 shares of the firm'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 transaction, the insider directly owned 4,125 shares of the company's stock, valued at approximately $74,250. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mvb Financial

Several hedge funds have recently bought and sold shares of the business. CWM LLC boosted its holdings in shares of Mvb Financial by 75.8% in the 2nd quarter. CWM LLC now owns 1,208 shares of the company's stock valued at $27,000 after buying an additional 521 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Mvb Financial by 6,989.3% in the first quarter. GAMMA Investing LLC now owns 5,317 shares of the company's stock valued at $92,000 after acquiring an additional 5,242 shares during the period. Strs Ohio acquired a new position in shares of Mvb Financial in the 1st quarter valued at $132,000. Wells Fargo & Company MN raised its stake in shares of Mvb Financial by 20.3% during the 4th quarter. Wells Fargo & Company MN now owns 8,705 shares of the company's stock worth $180,000 after buying an additional 1,467 shares during the period. Finally, Jane Street Group LLC acquired a new position in Mvb Financial during the first quarter worth $230,000. Institutional investors own 52.72% of the company's stock.

Mvb Financial Company 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.