MVB Financial Corp. (MVBF) to Issue Quarterly Dividend of $0.17 on December 15th

MVB Financial Corp. (NASDAQ:MVBF) declared a quarterly dividend on Tuesday, November 19th,Wall Street Journal reports. Investors of record on Sunday, December 1st will be given a dividend of 0.17 per share on Sunday, December 15th. This represents a $0.68 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Friday, November 29th.

MVB Financial has increased its dividend by an average of 23.6% per year over the last three years. MVB Financial has a payout ratio of 39.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect MVB Financial to earn $1.70 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 40.0%.

MVB Financial Price Performance

MVBF stock opened at $21.51 on Wednesday. The company’s 50-day moving average price is $20.20 and its two-hundred day moving average price is $20.03. The firm has a market cap of $278.34 million, a P/E ratio of 15.15 and a beta of 1.05. 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 has a 12 month low of $17.51 and a 12 month high of $25.24.

MVB Financial (NASDAQ:MVBF) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.19). MVB Financial had a return on equity of 6.29% and a net margin of 8.49%. The firm had revenue of $53.28 million for the quarter, compared to analyst estimates of $35.90 million. On average, analysts anticipate that MVB Financial will post 1.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.