Mvb Financial (NASDAQ:MVBF) Upgraded at Hovde Group

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 reports. They currently have $28.00 target price on the stock, up from their prior target price of $21.50.

Other equities analysts have also issued reports about the company. Wall Street Zen lowered Mvb Financial from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Raymond James Financial reissued an "outperform" rating and issued a $25.00 price objective (up from $20.00) on shares of Mvb Financial in a report on Tuesday, July 8th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.75.

Mvb Financial Stock Performance

Shares of NASDAQ:MVBF traded up $0.39 during trading on Monday, hitting $23.68. 565,580 shares of the company traded hands, compared to its average volume of 36,035. The stock has a market capitalization of $307.60 million, a price-to-earnings ratio of 16.22 and a beta of 0.99. The business's fifty day moving average is $20.78 and its 200-day moving average is $19.09. Mvb Financial has a one year low of $15.59 and a one year high of $25.24. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.24.

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

Mvb Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st were given a $0.17 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.68 dividend on an annualized basis and a yield of 2.87%. Mvb Financial's dividend payout ratio (DPR) is 46.58%.

Insiders Place Their Bets

In other news, CEO Larry F. Mazza sold 6,962 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $17.49, for a total value of $121,765.38. Following the transaction, the chief executive officer directly owned 626,358 shares of the company's stock, valued at approximately $10,955,001.42. This represents a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph Ryan Rodriguez purchased 4,125 shares of the company's stock in a transaction dated 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 completion of the purchase, the insider directly owned 4,125 shares of the company's stock, valued at $74,250. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 11.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mvb Financial

A number of hedge funds have recently modified their holdings of MVBF. Empowered Funds LLC increased its position in Mvb Financial by 9.0% during 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. Two Sigma Advisers LP increased its position in Mvb Financial by 11.6% during the fourth quarter. Two Sigma Advisers LP now owns 13,500 shares of the company's stock worth $279,000 after buying an additional 1,400 shares during the last quarter. Wells Fargo & Company MN increased its position in Mvb Financial by 20.3% during the fourth quarter. Wells Fargo & Company MN now owns 8,705 shares of the company's stock worth $180,000 after buying an additional 1,467 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Mvb Financial by 5.4% during 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. Finally, Northern Trust Corp increased its position in Mvb Financial by 3.6% during the fourth quarter. Northern Trust Corp now owns 99,258 shares of the company's stock worth $2,055,000 after buying an additional 3,409 shares during the last quarter. 52.72% of the stock is owned by institutional investors and hedge funds.

About Mvb Financial

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.