Hsbc Holdings PLC Makes New $348,000 Investment 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 disclosure with the Securities and Exchange Commission. The fund bought 17,038 shares of the company's stock, valued at approximately $348,000. Hsbc Holdings PLC owned 0.13% of MVB Financial as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in 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 buying an additional 20,992 shares during the period. Fourthstone LLC bought a new stake in MVB Financial during the 4th quarter worth approximately $343,000. Barclays PLC increased its stake in MVB Financial by 21.0% during the 4th quarter. Barclays PLC now owns 29,571 shares of the company's stock worth $613,000 after purchasing an additional 5,135 shares in the last quarter. Kennedy Capital Management LLC acquired a new stake in MVB Financial during the 4th quarter worth approximately $769,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of MVB Financial by 20.3% in 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. Institutional investors and hedge funds own 52.72% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on MVBF shares. Raymond James cut their price objective on shares of MVB Financial from $24.00 to $20.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods decreased their price objective on MVB Financial from $26.00 to $25.00 and set an "outperform" rating for the company in a report on Monday, March 3rd.

Insiders Place Their Bets

In other news, insider Joseph Ryan Rodriguez purchased 4,125 shares of MVB Financial stock in a transaction that occurred on Thursday, May 8th. The shares were acquired at an average price of $18.00 per share, for a total transaction of $74,250.00. Following the transaction, the insider now owns 4,125 shares of the company's stock, valued at approximately $74,250. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael Louis Giorgio purchased 5,700 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average price of $17.60 per share, for a total transaction of $100,320.00. Following the purchase, the insider now owns 7,504 shares in the company, valued at approximately $132,070.40. The trade was a 315.96% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 11,525 shares of company stock valued at $203,824 over the last ninety days. 11.66% of the stock is currently owned by company insiders.

MVB Financial Stock Up 0.1%

Shares of NASDAQ:MVBF traded up $0.01 during midday trading on Tuesday, hitting $18.52. The stock had a trading volume of 7,298 shares, compared to its average volume of 29,355. The company has a market cap of $239.83 million, a P/E ratio of 12.10 and a beta of 0.92. MVB Financial Corp. has a 12 month low of $15.59 and a 12 month high of $25.24. The business's 50-day simple moving average is $17.02 and its 200-day simple moving average is $19.15. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.24.

MVB Financial (NASDAQ:MVBF - Get Free Report) last released its quarterly earnings data 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 8.78% and a return on equity of 6.76%. The company had revenue of $33.68 million for the quarter, compared to analyst estimates of $34.48 million. On average, sell-side analysts forecast that MVB Financial Corp. will post 1.4 earnings per share for the current fiscal year.

MVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend was Friday, February 28th. MVB Financial's dividend payout ratio is 46.58%.

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.