Mvb Financial (NASDAQ:MVBF) Posts Earnings Results, Beats Estimates By $0.06 EPS

Key Points

• EPS beat: MVB Financial reported $0.41 EPS for the quarter, beating estimates by $0.06 (consensus $0.35) while revenue came in at $36.66M versus $37.52M expected.
• Shares fell about 2.3% to $25.93 after the report; the company has a market cap of $333M and a P/E of 12.59, and it pays a quarterly dividend of $0.17 (annualized $0.68, ~2.6% yield; payout ratio 33%).
• Analysts are generally positive with an average "Buy" rating and a $32 average price target (Hovde raised its target to $33 and TD Cowen upgraded to "strong-buy"), and institutional investors own roughly 52.72% of the stock.

Mvb Financial (NASDAQ:MVBF - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.06, FiscalAI reports. The company had revenue of $36.66 million during the quarter, compared to the consensus estimate of $37.52 million. Mvb Financial had a net margin of 13.37% and a return on equity of 2.09%.

Mvb Financial Trading Down 2.3%

Shares of MVBF traded down $0.62 during trading hours on Wednesday, hitting $25.93. The company had a trading volume of 25,761 shares, compared to its average volume of 39,764. Mvb Financial has a 52-week low of $16.60 and a 52-week high of $29.59. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.22. The stock's 50 day moving average price is $25.98 and its 200 day moving average price is $26.58. The firm has a market cap of $333.07 million, a P/E ratio of 12.59 and a beta of 0.90.

Mvb Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, March 15th. Stockholders of record on Sunday, March 1st were issued a $0.17 dividend. The ex-dividend date was Friday, February 27th. This represents a $0.68 annualized dividend and a dividend yield of 2.6%. Mvb Financial's payout ratio is currently 33.01%.

Hedge Funds Weigh In On Mvb Financial

Several institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC increased its stake in Mvb Financial by 3.6% in the 4th quarter. AQR Capital Management LLC now owns 27,396 shares of the company's stock worth $708,000 after purchasing an additional 958 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Mvb Financial by 2,673.2% during the third quarter. Russell Investments Group Ltd. now owns 1,137 shares of the company's stock valued at $28,000 after purchasing an additional 1,096 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Mvb Financial by 3.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,153 shares of the company's stock worth $934,000 after purchasing an additional 1,120 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Mvb Financial by 9.0% in the first quarter. Empowered Funds LLC now owns 14,144 shares of the company's stock worth $245,000 after buying an additional 1,165 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in shares of Mvb Financial by 200.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,870 shares of the company's stock worth $42,000 after buying an additional 1,248 shares during the period. 52.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MVBF shares. Hovde Group lifted their price target on Mvb Financial from $31.00 to $33.00 and gave the stock an "outperform" rating in a research note on Friday, February 13th. Wall Street Zen cut Mvb Financial from a "hold" rating to a "sell" rating in a report on Saturday, April 11th. TD Cowen upgraded Mvb Financial to a "strong-buy" rating in a research report on Monday, April 13th. Finally, Zacks Research upgraded shares of Mvb Financial from a "strong sell" rating to a "hold" rating in a research report on Friday, January 2nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Mvb Financial currently has an average rating of "Buy" and an average price target of $32.00.

Mvb Financial Company Profile

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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