Mvb Financial (NASDAQ:MVBF) Announces Quarterly Earnings Results

Key Points

• Mvb Financial reported earnings of $0.15 per share for the quarter, which missed analysts' expectations by $0.17.
• The company declared a quarterly dividend of $0.17, which results in an annualized dividend of $0.68 and a yield of 2.91%.
• Recent analyst ratings saw Hovde Group upgrade Mvb Financial from "market perform" to "outperform," raising the target price from $21.50 to $28.00.

Mvb Financial (NASDAQ:MVBF - Get Free Report) announced its quarterly earnings data on Monday. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.16), Zacks reports. The business had revenue of $33.72 million during the quarter, compared to analyst estimates of $35.80 million. Mvb Financial had a return on equity of 5.58% and a net margin of 7.84%.

Mvb Financial Stock Down 1.8%

Shares of MVBF stock traded down $0.42 during trading on Friday, hitting $22.32. 13,025 shares of the company were exchanged, compared to its average volume of 42,012. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $290.09 million, a price-to-earnings ratio of 17.23 and a beta of 0.99. The business's 50-day simple moving average is $21.80 and its 200 day simple moving average is $19.38. Mvb Financial has a twelve month low of $15.59 and a twelve month high of $25.13.

Mvb Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Sunday, June 1st were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, May 30th. Mvb Financial's dividend payout ratio (DPR) is currently 52.31%.

Insider Activity at Mvb Financial

In related news, insider Joseph Ryan Rodriguez purchased 4,125 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was acquired at an average cost of $18.00 per share, for a total transaction of $74,250.00. Following the completion of the acquisition, the insider owned 4,125 shares in the company, valued at $74,250. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 11.66% of the company's stock.

Institutional Trading of Mvb Financial

A number of institutional investors have recently added to or reduced their stakes in the business. Strs Ohio acquired a new stake in shares of Mvb Financial in the first quarter worth $132,000. Jane Street Group LLC acquired a new stake in shares of Mvb Financial in the first quarter worth $230,000. Empowered Funds LLC lifted 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 last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Mvb Financial by 5.4% in the first quarter. Goldman Sachs Group Inc. now owns 62,462 shares of the company's stock worth $1,082,000 after buying an additional 3,213 shares during the last quarter. 52.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MVBF shares. Raymond James Financial reaffirmed an "outperform" rating and issued a $25.00 price objective (up previously from $20.00) on shares of Mvb Financial in a research note on Tuesday, July 8th. Hovde Group decreased their target price on shares of Mvb Financial from $28.00 to $27.00 and set an "outperform" rating for the company in a report on Thursday. Finally, Wall Street Zen upgraded shares of Mvb Financial from a "sell" rating to a "hold" rating in a report on Sunday, July 20th.

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.