Hovde Group Cuts MVB Financial (NASDAQ:MVBF) Price Target to $23.00

MVB Financial (NASDAQ:MVBF - Free Report) had its price target decreased by Hovde Group from $27.00 to $23.00 in a report published on Wednesday, Marketbeat.com reports. Hovde Group currently has an outperform rating on the stock.

MVBF has been the subject of several other research reports. Keefe, Bruyette & Woods reduced their price target on shares of MVB Financial from $26.00 to $25.00 and set an outperform rating for the company in a research report on Friday, March 1st. JPMorgan Chase & Co. decreased their price target on shares of MVB Financial from $28.00 to $25.00 and set an overweight rating on the stock in a research note on Wednesday, May 1st. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of Buy and an average target price of $25.75.

MVB Financial Stock Down 1.4 %

MVBF traded down $0.27 during trading on Wednesday, hitting $18.37. 15,044 shares of the company's stock traded hands, compared to its average volume of 28,524. MVB Financial has a 12-month low of $16.50 and a 12-month high of $27.23. The company's 50 day simple moving average is $20.50 and its two-hundred day simple moving average is $21.07. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $235.87 million, a price-to-earnings ratio of 9.89 and a beta of 1.04.

MVB Financial (NASDAQ:MVBF - Get Free Report) last released its quarterly earnings data on Monday, April 29th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.04). MVB Financial had a net margin of 11.10% and a return on equity of 8.76%. The company had revenue of $57.86 million for the quarter, compared to analysts' expectations of $37.47 million. Analysts predict that MVB Financial will post 1.64 earnings per share for the current fiscal year.

MVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.17 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.68 annualized dividend and a dividend yield of 3.70%. MVB Financial's dividend payout ratio is presently 36.36%.

Institutional Investors Weigh In On MVB Financial

Several institutional investors have recently bought and sold shares of MVBF. TimesSquare Capital Management LLC boosted its stake in shares of MVB Financial by 53.5% in the first quarter. TimesSquare Capital Management LLC now owns 945,290 shares of the company's stock worth $21,089,000 after acquiring an additional 329,355 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of MVB Financial by 4.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,304,617 shares of the company's stock worth $29,458,000 after acquiring an additional 51,342 shares during the period. Assenagon Asset Management S.A. purchased a new position in MVB Financial during the 4th quarter valued at about $736,000. BNP Paribas Financial Markets increased its stake in MVB Financial by 515.9% during the first quarter. BNP Paribas Financial Markets now owns 20,195 shares of the company's stock worth $451,000 after purchasing an additional 16,916 shares during the period. Finally, Sippican Capital Advisors purchased a new stake in MVB Financial during the 1st quarter worth approximately $308,000. 52.72% of the stock is currently owned by institutional investors and hedge funds.

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.