TD Cowen Upgrades Mvb Financial (NASDAQ:MVBF) to "Strong-Buy"

Key Points

• TD Cowen upgraded Mvb Financial (NASDAQ:MVBF) to a strong-buy, and the street consensus remains an average Buy rating with a $32.00 average price target.
• MVB reported $0.32 EPS last quarter—beating estimates by $0.01—and revenue of $39.08M versus $35.13M expected; the stock trades around $26.32 with a market cap of $338.2M and a P/E of 12.78.
• Institutional ownership is significant at 52.72%, led by Wellington Management which raised its position 56.5% to about 1.78M shares (≈$44.7M).

Mvb Financial (NASDAQ:MVBF - Get Free Report) was upgraded by equities researchers at TD Cowen to a "strong-buy" rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other analysts have also commented on MVBF. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Mvb Financial in a research note on Monday, December 29th. Hovde Group increased their target price on Mvb Financial from $31.00 to $33.00 and gave the company an "outperform" rating in a report on Friday, February 13th. Zacks Research upgraded Mvb Financial from a "strong sell" rating to a "hold" rating in a report on Friday, January 2nd. Finally, Wall Street Zen lowered Mvb Financial from a "hold" rating to a "sell" rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $32.00.

Mvb Financial Price Performance

Shares of NASDAQ:MVBF opened at $26.32 on Monday. Mvb Financial has a one year low of $15.59 and a one year high of $29.59. The stock has a fifty day moving average of $26.42 and a 200-day moving average of $26.58. The company has a market capitalization of $338.21 million, a PE ratio of 12.78 and a beta of 0.90. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.93 and a current ratio of 0.93.

Mvb Financial (NASDAQ:MVBF - Get Free Report) last announced its quarterly earnings data on Thursday, February 12th. The company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.01. Mvb Financial had a return on equity of 2.09% and a net margin of 13.37%.The company had revenue of $39.08 million during the quarter, compared to the consensus estimate of $35.13 million. As a group, equities analysts anticipate that Mvb Financial will post 1.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Mvb Financial

A number of institutional investors have recently modified their holdings of the company. Wellington Management Group LLP raised its position in shares of Mvb Financial by 56.5% in the third quarter. Wellington Management Group LLP now owns 1,782,385 shares of the company's stock valued at $44,667,000 after purchasing an additional 643,551 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Mvb Financial by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 486,958 shares of the company's stock valued at $12,579,000 after purchasing an additional 17,244 shares during the period. Geode Capital Management LLC raised its position in shares of Mvb Financial by 0.8% in the second quarter. Geode Capital Management LLC now owns 277,417 shares of the company's stock valued at $6,252,000 after purchasing an additional 2,160 shares during the period. Ameriprise Financial Inc. bought a new position in shares of Mvb Financial in the third quarter valued at approximately $4,716,000. Finally, Kennedy Capital Management LLC bought a new position in shares of Mvb Financial in the fourth quarter valued at approximately $3,118,000. Institutional investors own 52.72% of the company's stock.

About Mvb Financial

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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