Mvb Financial (NASDAQ:MVBF) CFO Acquires $52,000.00 in Stock

Mvb Financial Corp. (NASDAQ:MVBF) CFO Michael Robert Sumbs acquired 2,000 shares of Mvb Financial stock in a transaction that occurred on Monday, November 3rd. The shares were bought at an average price of $26.00 per share, for a total transaction of $52,000.00. Following 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Mvb Financial Stock Down 0.1%

Shares of MVBF opened at $26.50 on Friday. Mvb Financial Corp. has a 52-week low of $15.59 and a 52-week high of $27.49. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.24. The stock has a fifty day simple moving average of $25.38 and a two-hundred day simple moving average of $22.64. The company has a market capitalization of $337.35 million, a PE ratio of 10.77 and a beta of 1.09.

Mvb Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 1st were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.6%. The ex-dividend date was Friday, August 29th. Mvb Financial’s payout ratio is presently 27.64%.

Institutional Trading of Mvb Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC lifted 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 purchasing an additional 521 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Mvb Financial in the second quarter valued at $32,000. Tower Research Capital LLC TRC raised its holdings in shares of Mvb Financial by 200.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,870 shares of the company’s stock valued at $42,000 after buying an additional 1,248 shares during the period. Versant Capital Management Inc lifted its stake in Mvb Financial by 317.6% during the 3rd quarter. Versant Capital Management Inc now owns 2,063 shares of the company’s stock worth $52,000 after acquiring an additional 1,569 shares in the last quarter. Finally, City Holding Co. lifted its stake in Mvb Financial by 872.6% during the 3rd quarter. City Holding Co. now owns 3,696 shares of the company’s stock worth $93,000 after acquiring an additional 3,316 shares in the last quarter. Hedge funds and other institutional investors own 52.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods increased their price target on shares of Mvb Financial from $23.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday, August 4th. Raymond James Financial set a $30.00 price objective on Mvb Financial and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. TD Cowen started coverage on Mvb Financial in a research note on Thursday, September 25th. They set a “buy” rating and a $35.00 target price for the company. Weiss Ratings restated a “hold (c)” rating on shares of Mvb Financial in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised Mvb Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.25.

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.