Mvb Financial (NASDAQ:MVBF) Given New $27.00 Price Target 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 price objective cut by Hovde Group from $28.00 to $27.00 in a research report issued on Thursday, Marketbeat Ratings reports. The brokerage presently has an "outperform" rating on the stock. Hovde Group's target price would indicate a potential upside of 21.46% from the company's previous close.

MVBF has been the topic of several other research reports. Wall Street Zen raised shares of Mvb Financial from a "sell" rating to a "hold" rating in a research report on Sunday, July 20th. Raymond James Financial reaffirmed an "outperform" rating and set a $25.00 price target (up previously from $20.00) on shares of Mvb Financial in a research report on Tuesday, July 8th.

Mvb Financial Stock Down 2.2%

Shares of Mvb Financial stock traded down $0.51 during trading hours on Thursday, hitting $22.23. 68,240 shares of the company's stock traded hands, compared to its average volume of 84,979. The stock has a 50 day simple moving average of $21.87 and a 200-day simple moving average of $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 cap of $288.77 million, a PE ratio of 17.10 and a beta of 1.01. Mvb Financial has a twelve month low of $15.59 and a twelve month high of $25.13.

Mvb Financial (NASDAQ:MVBF - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.16). Mvb Financial had a return on equity of 5.58% and a net margin of 7.84%. The company had revenue of $33.72 million for the quarter, compared to the consensus estimate of $35.80 million. Equities research analysts anticipate that Mvb Financial will post 1.4 earnings per share for the current fiscal year.

Insider Transactions at Mvb Financial

In other Mvb Financial news, insider Joseph Ryan Rodriguez purchased 4,125 shares of the business's stock in a transaction dated 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 acquisition, the insider owned 4,125 shares in the company, valued at approximately $74,250. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mvb Financial

Hedge funds have recently made changes to their positions in the business. AA Financial Advisors LLC acquired a new position in Mvb Financial in the 1st quarter worth approximately $1,299,000. Nuveen LLC acquired a new stake in shares of Mvb Financial in the 1st quarter valued at $815,000. Kennedy Capital Management LLC bought a new position in Mvb Financial in the 4th quarter worth $769,000. Dimensional Fund Advisors LP increased its holdings in shares of Mvb Financial by 5.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 388,990 shares of the company's stock worth $8,052,000 after purchasing an additional 20,992 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Mvb Financial by 39.9% in the fourth quarter. JPMorgan Chase & Co. now owns 64,244 shares of the company's stock valued at $1,330,000 after acquiring an additional 18,318 shares during the period. 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.