MVB Financial Corp. (NASDAQ:MVBF) Insider Michael Louis Giorgio Buys 5,700 Shares

MVB Financial Corp. (NASDAQ:MVBF) insider Michael Louis Giorgio acquired 5,700 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average cost of $17.60 per share, for a total transaction of $100,320.00. Following the completion of the transaction, the insider now directly owns 7,504 shares in the company, valued at $132,070.40. This represents a 315.96 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

MVB Financial Price Performance

MVB Financial stock opened at $17.00 on Friday. The business has a 50-day simple moving average of $19.16 and a 200 day simple moving average of $20.04. MVB Financial Corp. has a 52 week low of $16.81 and a 52 week high of $25.24. The stock has a market cap of $220.00 million, a price-to-earnings ratio of 11.11 and a beta of 1.03. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.24.

MVB Financial (NASDAQ:MVBF) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.39. The firm had revenue of $46.18 million during the quarter, compared to analyst estimates of $33.60 million. MVB Financial had a net margin of 8.78% and a return on equity of 6.76%. On average, research analysts forecast that MVB Financial Corp. will post 1.4 earnings per share for the current fiscal year.

MVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.00%. The ex-dividend date is Friday, February 28th. MVB Financial’s dividend payout ratio (DPR) is 44.44%.

Hedge Funds Weigh In On MVB Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. Two Sigma Advisers LP increased its stake in shares of MVB Financial by 11.6% in the 4th quarter. Two Sigma Advisers LP now owns 13,500 shares of the company’s stock worth $279,000 after purchasing an additional 1,400 shares in the last quarter. Two Sigma Investments LP grew its holdings in MVB Financial by 47.4% during the 4th quarter. Two Sigma Investments LP now owns 22,409 shares of the company’s stock valued at $464,000 after buying an additional 7,211 shares in the last quarter. Deutsche Bank AG bought a new stake in MVB Financial in the 4th quarter valued at $272,000. Bank of America Corp DE lifted its position in shares of MVB Financial by 85.2% in the fourth quarter. Bank of America Corp DE now owns 27,652 shares of the company’s stock worth $572,000 after buying an additional 12,723 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of MVB Financial by 3.6% during the 4th quarter. Northern Trust Corp now owns 99,258 shares of the company’s stock valued at $2,055,000 after acquiring an additional 3,409 shares during the last quarter. 52.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods dropped their price objective on shares of MVB Financial from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, March 3rd.

About MVB Financial

MVB Financial Corp. operates as bank holding company for MVB Bank, Inc that provides financial services to individuals and corporate clients. The company operates through three segments: CoRe Banking, Mortgage Banking, and The Financial Holding Company. It offers various demand deposit accounts, savings accounts, money market accounts, and certificates of deposit; and commercial, consumer, and real estate mortgage loans, as well as lines of credit.