TD Cowen Lowers Mvb Financial (NASDAQ:MVBF) Price Target to $32.00

Key Points

• TD Cowen lowered its price target on MVB Financial from $35 to $32 while keeping a "buy" rating, implying about a 22.8% upside from the current share price.
• MarketBeat's analyst consensus is a Moderate Buy with an average target of $31.25, though recent notes are mixed (four Buys and two Holds, plus some downgrades).
• Shares traded at $26.06 after MVB reported Q1 EPS of $0.39 (beat by $0.02) while revenue slightly missed expectations; market cap is roughly $335 million and institutional ownership is about 52.7%.

Mvb Financial (NASDAQ:MVBF - Get Free Report) had its price target lowered by stock analysts at TD Cowen from $35.00 to $32.00 in a research note issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. TD Cowen's price objective suggests a potential upside of 22.82% from the stock's current price.

Other equities analysts have also recently issued reports about the stock. Zacks Research upgraded shares of Mvb Financial from a "strong sell" rating to a "hold" rating in a research note on Friday, January 2nd. Wall Street Zen cut shares of Mvb Financial from a "hold" rating to a "sell" rating in a research note on Saturday, April 11th. Raymond James Financial cut shares of Mvb Financial from an "outperform" rating to a "market perform" rating in a research note on Thursday. Finally, Hovde Group boosted their target price on shares of Mvb Financial from $31.00 to $33.00 and gave the company an "outperform" rating in a research note on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Mvb Financial currently has a consensus rating of "Moderate Buy" and an average target price of $31.25.

Mvb Financial Stock Performance

Shares of MVBF stock traded down $0.08 during trading hours on Friday, hitting $26.06. The company's stock had a trading volume of 59,702 shares, compared to its average volume of 40,415. The company has a 50 day moving average of $25.91 and a 200 day moving average of $26.58. The stock has a market cap of $334.81 million, a PE ratio of 11.95 and a beta of 0.90. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.22. Mvb Financial has a 12-month low of $17.13 and a 12-month high of $29.59.

Mvb Financial (NASDAQ:MVBF - Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. Mvb Financial had a net margin of 13.98% and a return on equity of 2.57%. The firm had revenue of $36.66 million during the quarter, compared to analysts' expectations of $37.72 million. On average, sell-side analysts forecast that Mvb Financial will post 1.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Mvb Financial

A number of large investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC raised its position in Mvb Financial by 21.9% during the fourth quarter. Empowered Funds LLC now owns 34,425 shares of the company's stock worth $889,000 after acquiring an additional 6,191 shares during the period. Bridgeway Capital Management LLC raised its position in Mvb Financial by 5.6% during the fourth quarter. Bridgeway Capital Management LLC now owns 117,125 shares of the company's stock worth $3,025,000 after acquiring an additional 6,191 shares during the period. AQR Capital Management LLC raised its position in shares of Mvb Financial by 3.6% in the fourth quarter. AQR Capital Management LLC now owns 27,396 shares of the company's stock valued at $708,000 after buying an additional 958 shares during the last quarter. Trexquant Investment LP raised its position in shares of Mvb Financial by 52.1% in the fourth quarter. Trexquant Investment LP now owns 29,464 shares of the company's stock valued at $761,000 after buying an additional 10,088 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Mvb Financial by 3.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,153 shares of the company's stock valued at $934,000 after buying an additional 1,120 shares during the last quarter. 52.72% of the stock is currently owned by institutional investors and hedge funds.

Mvb Financial Company Profile

MVB Financial Corp is a bank holding company based in Fairmont, West Virginia, serving individuals and businesses through its subsidiary, MVB Bank, Inc The company operates under a “Local First Banking” philosophy, emphasizing personalized service across its branch network. Its core business activities include deposit-taking, commercial lending, residential mortgage origination, and wealth management services.

On the deposit side, MVB Bank offers a range of products such as checking and savings accounts, money market accounts, and certificates of deposit.

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