Mvb Financial (NASDAQ:MVBF) Price Target Raised to $33.00 at Hovde Group

Mvb Financial (NASDAQ:MVBF) had its price objective boosted by research analysts at Hovde Group from $31.00 to $33.00 in a research note issued to investors on Friday. The firm currently has an “outperform” rating on the stock. Hovde Group’s price objective points to a potential upside of 18.07% from the stock’s previous close.

A number of other equities analysts have also commented on MVBF. Weiss Ratings reissued a “buy (b-)” rating on shares of Mvb Financial in a research note on Monday, December 29th. Zacks Research raised Mvb Financial from a “strong sell” rating to a “hold” rating in a report on Friday, January 2nd. Wall Street Zen downgraded Mvb Financial from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Mvb Financial from $25.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, November 10th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.00.

Mvb Financial Stock Performance

MVBF opened at $27.95 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $355.52 million, a price-to-earnings ratio of 11.36 and a beta of 0.94. The company has a fifty day moving average of $27.33 and a 200 day moving average of $25.84. Mvb Financial has a fifty-two week low of $15.59 and a fifty-two week high of $29.59.

Mvb Financial (NASDAQ:MVBF) last released its quarterly earnings data on Thursday, February 12th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. The business had revenue of $39.08 million during the quarter, compared to the consensus estimate of $35.13 million. Mvb Financial had a net margin of 15.34% and a return on equity of 3.81%. As a group, sell-side analysts forecast that Mvb Financial will post 1.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mvb Financial

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. increased its position in shares of Mvb Financial by 2,673.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,137 shares of the company’s stock valued at $28,000 after purchasing an additional 1,096 shares during the last quarter. CWM LLC boosted its stake in Mvb Financial by 75.8% during the second quarter. CWM LLC now owns 1,208 shares of the company’s stock worth $27,000 after buying an additional 521 shares during the period. Raymond James Financial Inc. purchased a new position in Mvb Financial during the second quarter worth $32,000. Tower Research Capital LLC TRC increased its position in Mvb Financial by 200.6% during the second quarter. Tower Research Capital LLC TRC now owns 1,870 shares of the company’s stock valued at $42,000 after acquiring an additional 1,248 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in Mvb Financial by 317.6% during the third quarter. Versant Capital Management Inc now owns 2,063 shares of the company’s stock valued at $52,000 after acquiring an additional 1,569 shares during 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.