MVB Financial Corp. (NASDAQ:MVBF) Sees Large Decrease in Short Interest

MVB Financial Corp. (NASDAQ:MVBF - Get Free Report) saw a large decline in short interest during the month of April. As of April 30th, there was short interest totalling 80,300 shares, a decline of 20.9% from the April 15th total of 101,500 shares. Based on an average daily volume of 25,500 shares, the days-to-cover ratio is currently 3.1 days.

MVB Financial Stock Down 1.2 %

Shares of NASDAQ:MVBF traded down $0.22 during trading on Friday, hitting $18.64. The company's stock had a trading volume of 6,921 shares, compared to its average volume of 18,305. The company has a market capitalization of $240.27 million, a PE ratio of 9.97 and a beta of 1.04. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.94 and a current ratio of 0.95. MVB Financial has a fifty-two week low of $16.50 and a fifty-two week high of $27.23. The business has a 50 day moving average price of $20.34 and a two-hundred day moving average price of $21.03.

MVB Financial (NASDAQ:MVBF - Get Free Report) last released its earnings results on Monday, April 29th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.04). The company had revenue of $57.86 million for the quarter, compared to analyst estimates of $37.47 million. MVB Financial had a return on equity of 8.65% and a net margin of 11.10%. As a group, research analysts expect that MVB Financial will post 1.65 EPS for the current fiscal year.

MVB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.17 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.68 annualized dividend and a yield of 3.65%. MVB Financial's dividend payout ratio (DPR) is 36.36%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. TimesSquare Capital Management LLC raised its position in shares of MVB Financial by 53.5% during the 1st 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 in the last quarter. Wellington Management Group LLP raised its holdings 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 worth $29,458,000 after purchasing an additional 51,342 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in MVB Financial during the fourth quarter worth approximately $736,000. Vanguard Group Inc. boosted its holdings in shares of MVB Financial by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 558,946 shares of the company's stock valued at $12,470,000 after buying an additional 29,237 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of MVB Financial by 515.9% in the 1st quarter. BNP Paribas Financial Markets now owns 20,195 shares of the company's stock valued at $451,000 after buying an additional 16,916 shares in the last quarter. Hedge funds and other institutional investors own 52.72% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on MVBF shares. JPMorgan Chase & Co. lowered their price objective on MVB Financial from $28.00 to $25.00 and set an "overweight" rating for the company in a research report on Wednesday, May 1st. Hovde Group lowered their price target on MVB Financial from $27.00 to $23.00 and set an "outperform" rating for the company in a report on Wednesday. Finally, Keefe, Bruyette & Woods reduced their price target on shares of MVB Financial from $26.00 to $25.00 and set an "outperform" rating on the stock in a research note on Friday, March 1st. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, MVB Financial presently has a consensus rating of "Buy" and an average target price of $25.75.

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.