MVB Financial Corp. Declares Quarterly Dividend of $0.17 (NASDAQ:MVBF)

MVB Financial Corp. (NASDAQ:MVBF) announced a quarterly dividend on Friday, November 22nd,Wall Street Journal reports. Investors of record on Sunday, December 1st will be paid a dividend of 0.17 per share on Sunday, December 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend is Friday, November 29th.

MVB Financial has raised its dividend payment 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 Stock Up 2.7 %

NASDAQ:MVBF opened at $22.30 on Friday. MVB Financial has a 1 year low of $17.51 and a 1 year high of $25.24. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24. The stock has a market cap of $288.56 million, a price-to-earnings ratio of 15.70 and a beta of 1.05. The stock has a 50-day moving average price of $20.16 and a two-hundred day moving average price of $19.96.

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

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. boosted their target price on MVB Financial from $25.00 to $29.00 and gave the company an “overweight” rating in a research note 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.