Mvb Financial Corp. (NASDAQ:MVBF) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts assign MVB Financial a “Moderate Buy” consensus: Four of six analysts recommend buying the stock, while one rates it a hold and one a sell. The average 12-month price target is $32.75, above the reported $30.71 share price.
• MVB Financial significantly exceeded quarterly expectations, reporting $0.93 in earnings per share versus the $0.34 consensus estimate and revenue of $50.73 million versus $36.94 million expected.
• Institutional ownership stands at 52.72%, with BlackRock purchasing a new position valued at approximately $30.2 million. The company also pays a quarterly dividend of $0.17, equivalent to a 2.2% annualized yield.

Shares of Mvb Financial Corp. (NASDAQ:MVBF - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $32.75.

A number of equities research analysts have recently commented on the company. TD Cowen lifted their target price on Mvb Financial from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods raised their price objective on shares of Mvb Financial from $32.00 to $34.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Wall Street Zen upgraded shares of Mvb Financial from a "sell" rating to a "hold" rating in a report on Monday, June 1st. Weiss Ratings raised shares of Mvb Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, July 2nd. Finally, Zacks Research cut shares of Mvb Financial from a "hold" rating to a "strong sell" rating in a research note on Monday, June 29th.

Hedge Funds Weigh In On Mvb Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Legal & General Group Plc purchased a new stake in Mvb Financial in the second quarter worth $35,000. CM Wealth Advisors LLC bought a new stake in shares of Mvb Financial in the second quarter valued at $334,000. BlackRock Inc. purchased a new position in shares of Mvb Financial during the 2nd quarter valued at $30,152,000. Deutsche Bank AG purchased a new position in shares of Mvb Financial during the 2nd quarter valued at $336,000. Finally, OneDigital Investment Advisors LLC bought a new position in shares of Mvb Financial during the 2nd quarter worth $236,000. 52.72% of the stock is owned by institutional investors.

Mvb Financial Stock Performance

Shares of MVBF opened at $30.71 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $398.31 million, a price-to-earnings ratio of 10.38 and a beta of 0.80. The stock has a 50 day moving average of $29.11 and a 200 day moving average of $27.38. Mvb Financial has a 12 month low of $22.85 and a 12 month high of $31.99.

Mvb Financial (NASDAQ:MVBF - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.59. The business had revenue of $50.73 million for the quarter, compared to analysts' expectations of $36.94 million. Mvb Financial had a return on equity of 2.86% and a net margin of 17.53%. As a group, sell-side analysts forecast that Mvb Financial will post 1.63 earnings per share for the current year.

Mvb Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, June 1st. Mvb Financial's payout ratio is 22.97%.

About Mvb Financial

MVB Financial Corp is a bank holding company based in Fairmont, West Virginia, serving individuals and businesses through its subsidiary, MVB Bank, Inc The company operates under a “Local First Banking” philosophy, emphasizing personalized service across its branch network. Its core business activities include deposit-taking, commercial lending, residential mortgage origination, and wealth management services.

On the deposit side, MVB Bank offers a range of products such as checking and savings accounts, money market accounts, and certificates of deposit.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source