MVB Financial Corp. (NASDAQ:MVBF) Sees Significant Drop in Short Interest

MVB Financial Corp. (NASDAQ:MVBF) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 52,600 shares, a drop of 21.4% from the September 15th total of 66,900 shares. Based on an average daily volume of 26,500 shares, the short-interest ratio is presently 2.0 days.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. upped their price target on MVB Financial from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st.

MVB Financial Stock Performance

MVBF traded up $0.26 during trading on Monday, reaching $19.63. 22,655 shares of the company’s stock were exchanged, compared to its average volume of 26,535. The business has a 50 day moving average price of $19.97 and a 200 day moving average price of $19.83. The company has a market capitalization of $252.95 million, a P/E ratio of 10.50 and a beta of 1.05. MVB Financial has a fifty-two week low of $17.51 and a fifty-two week high of $25.24. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.25.

MVB Financial (NASDAQ:MVBF) last announced its quarterly earnings data on Monday, July 29th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.09). The firm had revenue of $53.27 million during the quarter, compared to the consensus estimate of $38.20 million. MVB Financial had a net margin of 9.28% and a return on equity of 7.08%. As a group, analysts predict that MVB Financial will post 1.38 earnings per share for the current fiscal year.

MVB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.68 annualized dividend and a yield of 3.46%. MVB Financial’s dividend payout ratio is 36.36%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. EntryPoint Capital LLC bought a new stake in shares of MVB Financial during the 1st quarter worth approximately $107,000. Acadian Asset Management LLC bought a new position in shares of MVB Financial in the 1st quarter valued at $180,000. Quadrature Capital Ltd bought a new stake in shares of MVB Financial during the 4th quarter worth $231,000. Empowered Funds LLC bought a new stake in shares of MVB Financial during the 1st quarter worth $248,000. Finally, Sippican Capital Advisors bought a new position in MVB Financial in the first quarter valued at about $308,000. 52.72% of the stock is owned by institutional investors.

MVB Financial Company Profile

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.