JPMorgan Chase & Co. Lowers MVB Financial (NASDAQ:MVBF) Price Target to $28.00

MVB Financial (NASDAQ:MVBF - Get Free Report) had its price objective lowered by equities research analysts at JPMorgan Chase & Co. from $30.00 to $28.00 in a report issued on Thursday, Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 32.08% from the stock's previous close.

Separately, Keefe, Bruyette & Woods dropped their price target on MVB Financial from $26.00 to $25.00 and set an "outperform" rating for the company in a research note on Friday, March 1st.

MVB Financial Stock Down 0.7 %

Shares of NASDAQ MVBF traded down $0.14 during trading hours on Thursday, hitting $21.20. The company had a trading volume of 19,405 shares, compared to its average volume of 32,834. The stock has a market capitalization of $272.21 million, a P/E ratio of 8.83 and a beta of 1.00. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.25. MVB Financial has a 1-year low of $16.26 and a 1-year high of $27.23. The firm's 50 day moving average is $21.48 and its 200-day moving average is $21.49.

MVB Financial (NASDAQ:MVBF - Get Free Report) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.25. MVB Financial had a return on equity of 8.12% and a net margin of 14.91%. The business had revenue of $35.55 million during the quarter, compared to the consensus estimate of $38.05 million. On average, analysts expect that MVB Financial will post 1.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MVB Financial

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC raised its position in shares of MVB Financial by 122.4% during the third quarter. Tower Research Capital LLC TRC now owns 2,039 shares of the company's stock worth $57,000 after purchasing an additional 1,122 shares during the period. Barclays PLC raised its position in shares of MVB Financial by 533.6% during the fourth quarter. Barclays PLC now owns 2,750 shares of the company's stock worth $60,000 after purchasing an additional 2,316 shares during the period. UBS Group AG acquired a new position in shares of MVB Financial during the fourth quarter worth approximately $62,000. Citigroup Inc. raised its position in shares of MVB Financial by 338,100.0% during the second quarter. Citigroup Inc. now owns 3,382 shares of the company's stock worth $71,000 after purchasing an additional 3,381 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new position in shares of MVB Financial during the third quarter worth approximately $87,000. 52.72% of the stock is currently owned by institutional investors.

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.