Hsbc Holdings PLC Purchases New Holdings in MVB Financial Corp. (NASDAQ:MVBF)

Hsbc Holdings PLC bought a new position in shares of MVB Financial Corp. (NASDAQ:MVBF - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 17,038 shares of the company's stock, valued at approximately $348,000. Hsbc Holdings PLC owned about 0.13% of MVB Financial as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Empowered Funds LLC grew its stake in shares of MVB Financial by 5.1% in the 4th quarter. Empowered Funds LLC now owns 12,979 shares of the company's stock worth $269,000 after acquiring an additional 625 shares in the last quarter. Wells Fargo & Company MN lifted its position in MVB Financial by 20.3% during the fourth quarter. Wells Fargo & Company MN now owns 8,705 shares of the company's stock valued at $180,000 after buying an additional 1,467 shares during the period. Prudential Financial Inc. raised its position in shares of MVB Financial by 8.4% in the 4th quarter. Prudential Financial Inc. now owns 54,315 shares of the company's stock worth $1,124,000 after purchasing an additional 4,200 shares during the last quarter. Barclays PLC raised its position in MVB Financial by 21.0% in the 4th quarter. Barclays PLC now owns 29,571 shares of the company's stock worth $613,000 after buying an additional 5,135 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in MVB Financial in the 4th quarter worth approximately $111,000. 52.72% of the stock is owned by institutional investors.

MVB Financial Trading Down 1.1%

Shares of MVB Financial stock traded down $0.20 during trading hours on Wednesday, reaching $18.32. 862 shares of the company's stock were exchanged, compared to its average volume of 29,310. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $237.30 million, a price-to-earnings ratio of 11.98 and a beta of 0.92. MVB Financial Corp. has a 52-week low of $15.59 and a 52-week high of $25.24. The company has a fifty day moving average of $17.04 and a 200-day moving average of $19.15.

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 analysts' consensus estimates of $0.21 by $0.06. MVB Financial had a net margin of 8.78% and a return on equity of 6.76%. The company had revenue of $33.68 million during the quarter, compared to analyst estimates of $34.48 million. Sell-side analysts forecast that MVB Financial Corp. will post 1.4 EPS for the current fiscal year.

MVB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.71%. The ex-dividend date was Friday, February 28th. MVB Financial's payout ratio is presently 46.58%.

Insider Buying and Selling

In related news, CEO Larry F. Mazza sold 6,962 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $17.49, for a total transaction of $121,765.38. Following the completion of the transaction, the chief executive officer now owns 626,358 shares in the company, valued at $10,955,001.42. This represents a 1.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Louis Giorgio acquired 5,700 shares of MVB Financial stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $17.60 per share, with a total value of $100,320.00. Following the completion of the acquisition, the insider now directly owns 7,504 shares in the company, valued at $132,070.40. This represents a 315.96% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 12,650 shares of company stock valued at $225,367 in the last 90 days. 11.66% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MVBF has been the subject of several recent analyst reports. Keefe, Bruyette & Woods dropped their price objective on shares of MVB Financial from $26.00 to $25.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. Raymond James lowered their price objective on shares of MVB Financial from $24.00 to $20.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd.

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.