Mvb Financial Corp. (NASDAQ:MVBF) Given Average Recommendation of “Moderate Buy” by Brokerages

Mvb Financial Corp. (NASDAQ:MVBF) has been given an average recommendation of “Moderate Buy” by the six research firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $31.50.

A number of equities analysts have recently issued reports on the stock. Raymond James Financial set a $30.00 target price on shares of Mvb Financial and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Mvb Financial in a research note on Monday, December 29th. Zacks Research raised shares of Mvb Financial from a “strong sell” rating to a “hold” rating in a report on Friday, January 2nd. Hovde Group raised their price target on Mvb Financial from $27.00 to $31.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Finally, Keefe, Bruyette & Woods upped their price objective on Mvb Financial from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, November 10th.

Mvb Financial Stock Up 1.2%

Shares of NASDAQ MVBF opened at $28.38 on Wednesday. The company has a market capitalization of $357.13 million, a P/E ratio of 11.54 and a beta of 0.94. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.96 and a quick ratio of 0.96. The company has a 50 day simple moving average of $26.87 and a 200-day simple moving average of $25.49. Mvb Financial has a 1 year low of $15.59 and a 1 year high of $28.96.

Mvb Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a dividend of $0.17 per share. The ex-dividend date was Monday, December 1st. This represents a $0.68 annualized dividend and a yield of 2.4%. Mvb Financial’s payout ratio is presently 27.64%.

Insider Buying and Selling

In related news, CFO Michael Robert Sumbs bought 2,000 shares of the stock in a transaction on Monday, November 3rd. The shares were bought at an average cost of $26.00 per share, for a total transaction of $52,000.00. Following the completion of the transaction, the chief financial officer owned 2,000 shares of the company’s stock, valued at $52,000. This represents a ? increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 11.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MVBF. Wellington Management Group LLP lifted its holdings 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 in the last quarter. Fourthstone LLC grew its holdings in Mvb Financial by 275.2% in the second quarter. Fourthstone LLC now owns 259,356 shares of the company’s stock valued at $5,843,000 after purchasing an additional 190,223 shares during the period. Ameriprise Financial Inc. acquired a new stake in shares of Mvb Financial during the 3rd quarter worth $4,716,000. Ategra Capital Management LLC acquired a new stake in Mvb Financial during the third quarter worth about $1,375,000. Finally, Dimensional Fund Advisors LP increased its position in Mvb Financial by 4.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 469,714 shares of the company’s stock worth $11,771,000 after purchasing an additional 22,103 shares in the last quarter. Hedge funds and other institutional investors own 52.72% of the company’s stock.

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.