JPMorgan Chase & Co. Raises Position in MVB Financial Corp. (NASDAQ:MVBF)

JPMorgan Chase & Co. boosted its stake in MVB Financial Corp. (NASDAQ:MVBF - Free Report) by 39.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,244 shares of the company's stock after buying an additional 18,318 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.50% of MVB Financial worth $1,330,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in shares of MVB Financial by 2.3% during the third quarter. Geode Capital Management LLC now owns 265,272 shares of the company's stock valued at $5,136,000 after acquiring an additional 6,002 shares during the period. Banco Santander S.A. bought a new stake in MVB Financial in the 4th quarter valued at approximately $7,558,000. Empowered Funds LLC grew its position in MVB Financial by 5.1% in the fourth quarter. Empowered Funds LLC now owns 12,979 shares of the company's stock valued at $269,000 after purchasing an additional 625 shares in the last quarter. Barclays PLC increased its stake in MVB Financial by 99.5% in the 3rd quarter. Barclays PLC now owns 24,436 shares of the company's stock valued at $474,000 after buying an additional 12,190 shares during the last quarter. Finally, TimesSquare Capital Management LLC lifted its position in MVB Financial by 19.3% during the 4th quarter. TimesSquare Capital Management LLC now owns 924,053 shares of the company's stock worth $19,128,000 after buying an additional 149,464 shares in the last quarter. 52.72% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Michael Louis Giorgio acquired 5,700 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average cost of $17.60 per share, with a total value of $100,320.00. Following the completion of the purchase, the insider now directly owns 7,504 shares in the company, valued at $132,070.40. The trade was a 315.96 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Over the last three months, insiders have bought 7,400 shares of company stock valued at $129,574. 11.66% of the stock is currently owned by corporate insiders.

MVB Financial Price Performance

Shares of MVBF traded up $0.22 during midday trading on Thursday, hitting $17.28. The company's stock had a trading volume of 4,653 shares, compared to its average volume of 29,370. 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 Corp. has a one year low of $15.59 and a one year high of $25.24. The stock has a market capitalization of $223.71 million, a price-to-earnings ratio of 11.29 and a beta of 0.89. The company's fifty day simple moving average is $17.11 and its two-hundred day simple moving average is $19.28.

MVB Financial (NASDAQ:MVBF - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.27 earnings per share for the quarter, beating 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 firm had revenue of $33.68 million for the quarter, compared to analyst estimates of $34.48 million. As a group, equities analysts expect that MVB Financial Corp. will post 1.4 earnings per share for the current fiscal year.

MVB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend was Friday, February 28th. MVB Financial's payout ratio is 44.44%.

Wall Street Analyst Weigh In

MVBF has been the topic of a number of recent research reports. Raymond James lowered their target price on 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 lowered their price objective on shares of MVB Financial from $26.00 to $25.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd.

MVB Financial 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.