MVB Financial (NASDAQ:MVBF) Downgraded to Market Perform at Hovde Group

Hovde Group lowered shares of MVB Financial (NASDAQ:MVBF - Free Report) from an outperform rating to a market perform rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage currently has $21.00 price target on the stock.

Other research analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods decreased their price target on shares of MVB Financial from $26.00 to $25.00 and set an outperform rating for the company in a report on Friday, March 1st. JPMorgan Chase & Co. reduced their target price on shares of MVB Financial from $28.00 to $25.00 and set an overweight rating for the company in a report on Wednesday, May 1st. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $25.25.

MVB Financial Stock Up 0.4 %

NASDAQ:MVBF traded up $0.08 during midday trading on Wednesday, reaching $18.67. 15,738 shares of the stock traded hands, compared to its average volume of 27,748. MVB Financial has a 12-month low of $16.50 and a 12-month high of $27.23. The business has a 50-day moving average of $20.25 and a two-hundred day moving average of $21.01. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $240.66 million, a PE ratio of 9.94 and a beta of 1.04.

MVB Financial (NASDAQ:MVBF - Get Free Report) last posted its earnings results on Monday, April 29th. The company reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.04). MVB Financial had a net margin of 11.10% and a return on equity of 8.65%. The firm had revenue of $57.86 million for the quarter, compared to analysts' expectations of $37.47 million. On average, equities analysts forecast that MVB Financial will post 1.65 earnings per share for the current fiscal year.

MVB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.17 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.68 annualized dividend and a dividend yield of 3.64%. MVB Financial's dividend payout ratio (DPR) is presently 36.36%.

Institutional Trading of MVB Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MVBF. TimesSquare Capital Management LLC grew its position in MVB Financial by 53.5% during the first quarter. TimesSquare Capital Management LLC now owns 945,290 shares of the company's stock valued at $21,089,000 after buying an additional 329,355 shares during the period. Wellington Management Group LLP grew its position in MVB Financial by 4.1% during the third quarter. Wellington Management Group LLP now owns 1,304,617 shares of the company's stock valued at $29,458,000 after buying an additional 51,342 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of MVB Financial in the fourth quarter valued at about $736,000. Vanguard Group Inc. grew its position in shares of MVB Financial by 5.5% in the first quarter. Vanguard Group Inc. now owns 558,946 shares of the company's stock valued at $12,470,000 after purchasing an additional 29,237 shares during the period. Finally, BNP Paribas Financial Markets grew its position in shares of MVB Financial by 515.9% in the first quarter. BNP Paribas Financial Markets now owns 20,195 shares of the company's stock valued at $451,000 after purchasing an additional 16,916 shares during the period. Institutional investors and hedge funds own 52.72% of the company's stock.

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.