JPMorgan Chase & Co. Boosts MVB Financial (NASDAQ:MVBF) Price Target to $29.00

MVB Financial (NASDAQ:MVBF) had its target price raised by JPMorgan Chase & Co. from $25.00 to $29.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 24.30% from the stock’s current price.

Separately, Hovde Group downgraded shares of MVB Financial from an “outperform” rating to a “market perform” rating and set a $21.00 price objective for the company. in a research note on Wednesday, May 15th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $26.25.

MVB Financial Trading Down 1.8 %

NASDAQ MVBF traded down $0.43 during trading on Wednesday, hitting $23.33. 12,957 shares of the company’s stock traded hands, compared to its average volume of 27,415. The stock has a fifty day moving average of $19.66 and a two-hundred day moving average of $20.40. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.95 and a quick ratio of 0.95. MVB Financial has a 12-month low of $17.51 and a 12-month high of $27.23. The firm has a market cap of $300.72 million, a P/E ratio of 12.48 and a beta of 1.05.

MVB Financial (NASDAQ:MVBF) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.09). MVB Financial had a net margin of 9.28% and a return on equity of 7.16%. The business had revenue of $53.27 million for the quarter, compared to analysts’ expectations of $38.20 million. As a group, sell-side analysts expect that MVB Financial will post 1.68 EPS for the current year.

Hedge Funds Weigh In On MVB Financial

Institutional investors have recently bought and sold shares of the stock. TimesSquare Capital Management LLC raised its stake in MVB Financial by 53.5% in the first quarter. TimesSquare Capital Management LLC now owns 945,290 shares of the company’s stock worth $21,089,000 after buying an additional 329,355 shares in the last quarter. Empowered Funds LLC bought a new position in shares of MVB Financial during the first quarter valued at approximately $248,000. Assenagon Asset Management S.A. purchased a new stake in shares of MVB Financial during the fourth quarter valued at approximately $736,000. SG Americas Securities LLC grew its holdings in shares of MVB Financial by 23.9% during the fourth quarter. SG Americas Securities LLC now owns 5,957 shares of the company’s stock valued at $134,000 after buying an additional 1,151 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of MVB Financial during the first quarter valued at approximately $180,000. 52.72% of the stock is owned by institutional investors.

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.