Mvb Financial (NASDAQ:MVBF) Upgraded by Wall Street Zen to Hold Rating

Mvb Financial (NASDAQ:MVBF - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Sunday.

A number of other research firms have also issued reports on MVBF. Hovde Group raised shares of Mvb Financial from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $21.50 to $28.00 in a report on Monday, July 14th. Raymond James Financial reissued an "outperform" rating and issued a $25.00 target price (up from $20.00) on shares of Mvb Financial in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $26.75.

Mvb Financial Stock Up 3.6%

NASDAQ:MVBF opened at $24.54 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.92 and a quick ratio of 0.92. The company's fifty day moving average price is $20.91 and its 200-day moving average price is $19.11. Mvb Financial has a 1-year low of $15.59 and a 1-year high of $25.24. The firm has a market capitalization of $318.77 million, a P/E ratio of 16.81 and a beta of 0.99.

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

Insider Buying and Selling

In related news, CEO Larry F. Mazza sold 6,962 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was 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 in the company, 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 is accessible through this link. Also, insider Joseph Ryan Rodriguez acquired 4,125 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were acquired at an average cost of $18.00 per share, with a total value of $74,250.00. Following the completion of the transaction, the insider directly owned 4,125 shares in the company, valued at approximately $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 owned by company insiders.

Institutional Investors Weigh In On Mvb Financial

Several large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its position in shares of Mvb Financial by 29.8% during the 4th quarter. Bank of New York Mellon Corp now owns 81,969 shares of the company's stock worth $1,697,000 after purchasing an additional 18,825 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Mvb Financial by 8.4% during the 4th quarter. Prudential Financial Inc. now owns 54,315 shares of the company's stock worth $1,124,000 after acquiring an additional 4,200 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Mvb Financial by 39.9% during the fourth quarter. JPMorgan Chase & Co. now owns 64,244 shares of the company's stock worth $1,330,000 after purchasing an additional 18,318 shares during the last quarter. Trexquant Investment LP acquired a new position in Mvb Financial in the fourth quarter valued at approximately $311,000. Finally, Wells Fargo & Company MN boosted its holdings in Mvb Financial by 20.3% in the fourth quarter. Wells Fargo & Company MN now owns 8,705 shares of the company's stock valued at $180,000 after purchasing an additional 1,467 shares in the last quarter. 52.72% of the stock is owned by hedge funds and other 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.

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