Mvb Financial (NASDAQ:MVBF) Announces Quarterly Earnings Results

Mvb Financial (NASDAQ:MVBF) released its quarterly earnings data on Tuesday. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.59, FiscalAI reports. Mvb Financial had a return on equity of 2.54% and a net margin of 13.98%.The business had revenue of $51.07 million during the quarter, compared to analysts’ expectations of $36.94 million.

Mvb Financial Stock Up 2.2%

NASDAQ MVBF traded up $0.64 during trading hours on Tuesday, reaching $29.78. 32,399 shares of the company’s stock traded hands, compared to its average volume of 43,873. Mvb Financial has a 52-week low of $22.14 and a 52-week high of $30.24. The firm has a market cap of $382.67 million, a PE ratio of 13.66 and a beta of 0.80. The firm has a 50-day simple moving average of $27.96 and a 200 day simple moving average of $27.03. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.92 and a quick ratio of 0.92.

Mvb Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Monday, June 1st. Mvb Financial’s dividend payout ratio (DPR) is presently 31.19%.

Hedge Funds Weigh In On Mvb Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. lifted its holdings in shares of Mvb Financial by 2,673.2% during the third 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. Raymond James Financial Inc. purchased a new stake in shares of Mvb Financial in the 2nd quarter worth approximately $32,000. Tower Research Capital LLC TRC increased its position in Mvb Financial by 200.6% during 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 in the last quarter. Strs Ohio bought a new position in Mvb Financial during the 1st quarter valued at approximately $132,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Mvb Financial during the third quarter valued at $202,000. Institutional investors own 52.72% of the company’s stock.

Analyst Ratings Changes

MVBF has been the subject of a number of recent analyst reports. Weiss Ratings upgraded Mvb Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 2nd. Zacks Research lowered shares of Mvb Financial from a “hold” rating to a “strong sell” rating in a report on Monday, June 29th. Raymond James Financial cut shares of Mvb Financial from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 30th. Wall Street Zen upgraded shares of Mvb Financial from a “sell” rating to a “hold” rating in a research report on Monday, June 1st. Finally, TD Cowen lowered their price objective on shares of Mvb Financial from $35.00 to $32.00 and set a “buy” rating for the company in a report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Mvb Financial has an average rating of “Moderate Buy” and an average price target of $31.25.

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.