Mvb Financial (NASDAQ:MVBF) Issues Earnings Results, Beats Estimates By $0.59 EPS

Key Points

• MVB Financial beat quarterly earnings expectations: The company reported EPS of $0.93 versus the $0.34 consensus estimate and revenue of $51.07 million, above analyst expectations of $36.94 million.
• Shares rose to $29.78, near the company’s one-year high of $30.24. MVB Financial also maintains a quarterly dividend of $0.17, or $0.68 annually, yielding approximately 2.3%.
• Analysts maintain a consensus “Moderate Buy” rating with a $31.25 target price, although recent recommendations have ranged from “Strong Sell” to “Buy.” Institutional investors own 52.72% of the stock.

Mvb Financial (NASDAQ:MVBF - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.59, FiscalAI reports. The business had revenue of $51.07 million for the quarter, compared to analyst estimates of $36.94 million. Mvb Financial had a return on equity of 2.54% and a net margin of 13.98%.

Mvb Financial Price Performance

MVBF traded up $0.64 during trading on Tuesday, reaching $29.78. The stock had a trading volume of 32,399 shares, compared to its average volume of 43,873. The business has a 50-day moving average of $27.96 and a 200-day moving average of $27.03. Mvb Financial has a one year low of $22.14 and a one year high of $30.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market cap of $382.67 million, a PE ratio of 13.66 and a beta of 0.80.

Mvb Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.3%. Mvb Financial's dividend payout ratio is presently 31.19%.

Institutional Investors Weigh In On Mvb Financial

A number of institutional investors have recently made changes to their positions in MVBF. Russell Investments Group Ltd. grew its position in Mvb Financial by 2,673.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,137 shares of the company's stock worth $28,000 after acquiring an additional 1,096 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Mvb Financial during the 2nd quarter valued at $32,000. Tower Research Capital LLC TRC grew its holdings in Mvb Financial by 200.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,870 shares of the company's stock worth $42,000 after acquiring an additional 1,248 shares during the last quarter. Strs Ohio purchased a new position in shares of Mvb Financial in the first quarter valued at about $132,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Mvb Financial in the third quarter valued at about $202,000. Hedge funds and other institutional investors own 52.72% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on MVBF shares. Weiss Ratings upgraded shares of Mvb Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, July 2nd. TD Cowen dropped their target price on shares of Mvb Financial from $35.00 to $32.00 and set a "buy" rating on the stock in a research note on Friday, May 1st. Wall Street Zen raised Mvb Financial from a "sell" rating to a "hold" rating in a research report on Monday, June 1st. Raymond James Financial downgraded Mvb Financial from an "outperform" rating to a "market perform" rating in a research note on Thursday, April 30th. Finally, Zacks Research lowered Mvb Financial from a "hold" rating to a "strong sell" rating in a report on Monday, June 29th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Mvb Financial has a consensus rating of "Moderate Buy" and a consensus target price of $31.25.

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.

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