Mvb Financial (NASDAQ:MVBF) Stock Jumps 2.5% - Should You Buy?

Key Points

• MVB Financial shares rose 2.5% to $29.79, with trading volume more than doubling the average session volume.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $32.75; recent targets were raised to $34.
• The company exceeded quarterly expectations, reporting $0.93 earnings per share versus the $0.34 estimate and $50.73 million in revenue versus the $36.94 million consensus. It also pays a $0.17 quarterly dividend, yielding about 2.3%.

Mvb Financial Corp. (NASDAQ:MVBF - Get Free Report) shares shot up 2.5% during trading on Thursday. The stock traded as high as $30.00 and last traded at $29.79. Approximately 96,321 shares traded hands during mid-day trading, an increase of 115% from the average session volume of 44,724 shares. The stock had previously closed at $29.06.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MVBF. Weiss Ratings reiterated a "buy (b)" rating on shares of Mvb Financial in a research report on Tuesday. Keefe, Bruyette & Woods upped their price target on shares of Mvb Financial from $32.00 to $34.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. Zacks Research raised shares of Mvb Financial from a "strong sell" rating to a "hold" rating in a report on Monday, September 7th. Finally, TD Cowen boosted their target price on shares of Mvb Financial from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $32.75.

Mvb Financial Price Performance

The stock has a market capitalization of $386.38 million, a P/E ratio of 10.06 and a beta of 0.87. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16. The company has a fifty day simple moving average of $30.41 and a two-hundred day simple moving average of $28.09.

Mvb Financial (NASDAQ:MVBF - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.93 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.59. Mvb Financial had a net margin of 17.53% and a return on equity of 2.86%. The business had revenue of $50.73 million during the quarter, compared to the consensus estimate of $36.94 million. Sell-side analysts expect that Mvb Financial Corp. will post 1.63 EPS for the current fiscal year.

Mvb Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Tuesday, September 1st. Mvb Financial's dividend payout ratio (DPR) is currently 22.97%.

Hedge Funds Weigh In On Mvb Financial

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Mvb Financial in the 2nd quarter valued at about $30,152,000. Basswood Capital Management L.L.C. bought a new stake in Mvb Financial in the second quarter valued at approximately $7,477,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Mvb Financial in the second quarter worth $3,253,000. Pure Financial Advisors LLC acquired a new stake in Mvb Financial in the second quarter worth $2,461,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Mvb Financial during the second quarter worth $1,780,000. Institutional investors and hedge funds own 52.72% of the company's stock.

About Mvb Financial

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.