Mvb Financial (NASDAQ:MVBF) Upgraded by Hovde Group to "Outperform" Rating

Hovde Group upgraded shares of Mvb Financial (NASDAQ:MVBF - Free Report) from a market perform rating to an outperform rating in a report released on Monday, Marketbeat.com reports. They currently have $28.00 price target on the stock, up from their prior price target of $21.50.

Several other brokerages have also recently weighed in on MVBF. Wall Street Zen cut shares of Mvb Financial from a "hold" rating to a "sell" rating in a research report on Saturday. Raymond James Financial restated an "outperform" rating and set a $25.00 price objective (up from $20.00) on shares of Mvb Financial in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, Mvb Financial currently has an average rating of "Moderate Buy" and a consensus target price of $26.75.

Mvb Financial Trading Up 3.0%

MVBF stock traded up $0.70 during mid-day trading on Monday, reaching $23.88. The company's stock had a trading volume of 80,618 shares, compared to its average volume of 35,431. Mvb Financial has a 12 month low of $15.59 and a 12 month high of $25.24. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24. The business's 50 day moving average price is $20.32 and its 200 day moving average price is $18.99. The company has a market cap of $310.20 million, a price-to-earnings ratio of 16.36 and a beta of 0.99.

Mvb Financial (NASDAQ:MVBF - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.06. Mvb Financial had a net margin of 8.68% and a return on equity of 6.31%. The business had revenue of $33.68 million for the quarter, compared to analyst estimates of $34.48 million. On average, equities research analysts predict that Mvb Financial will post 1.4 EPS for the current year.

Mvb Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Sunday, June 1st were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend was Friday, May 30th. Mvb Financial's payout ratio is 46.58%.

Insiders Place Their Bets

In other news, CEO Larry F. Mazza sold 6,962 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $17.49, for a total transaction of $121,765.38. Following the completion of the transaction, the chief executive officer directly owned 626,358 shares of the company's stock, valued at $10,955,001.42. This represents a 1.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph Ryan Rodriguez purchased 4,125 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was bought at an average cost of $18.00 per share, for a total transaction of $74,250.00. Following the acquisition, the insider directly owned 4,125 shares in the company, valued at $74,250. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 11.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mvb Financial

Several institutional investors and hedge funds have recently bought and sold shares of MVBF. Dimensional Fund Advisors LP grew its stake in shares of Mvb Financial by 5.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 388,990 shares of the company's stock worth $8,052,000 after acquiring an additional 20,992 shares during the period. Bridgeway Capital Management LLC increased its stake in shares of Mvb Financial by 9.0% in the first quarter. Bridgeway Capital Management LLC now owns 163,744 shares of the company's stock worth $2,836,000 after purchasing an additional 13,565 shares in the last quarter. American Century Companies Inc. raised its position in shares of Mvb Financial by 13.7% in the first quarter. American Century Companies Inc. now owns 111,369 shares of the company's stock valued at $1,929,000 after purchasing an additional 13,418 shares during the period. Northern Trust Corp lifted its stake in shares of Mvb Financial by 3.6% during the 4th quarter. Northern Trust Corp now owns 99,258 shares of the company's stock valued at $2,055,000 after buying an additional 3,409 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Mvb Financial by 29.8% in the 4th quarter. Bank of New York Mellon Corp now owns 81,969 shares of the company's stock worth $1,697,000 after buying an additional 18,825 shares during the period. 52.72% of the stock is owned by institutional investors.

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.