Raymond James Cuts MVB Financial (NASDAQ:MVBF) Price Target to $20.00

MVB Financial (NASDAQ:MVBF) had its price target reduced by Raymond James from $24.00 to $20.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

Separately, Keefe, Bruyette & Woods decreased their target price on MVB Financial from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, March 3rd.

MVB Financial Trading Up 0.2 %

Shares of MVBF opened at $17.29 on Wednesday. The firm has a fifty day simple moving average of $18.61 and a two-hundred day simple moving average of $19.74. MVB Financial has a twelve month low of $16.81 and a twelve month high of $25.24. The stock has a market capitalization of $223.89 million, a P/E ratio of 11.30 and a beta of 1.03. 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 (NASDAQ:MVBF) last posted its earnings results on Thursday, February 13th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.39. MVB Financial had a net margin of 8.78% and a return on equity of 6.76%. The company had revenue of $46.18 million during the quarter, compared to analyst estimates of $33.60 million. On average, research analysts anticipate that MVB Financial will post 1.4 EPS for the current year.

MVB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were issued a dividend of $0.17 per share. The ex-dividend date was Friday, February 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.93%. MVB Financial’s dividend payout ratio (DPR) is 44.44%.

Insider Activity

In other MVB Financial news, insider Michael Louis Giorgio purchased 5,700 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average cost of $17.60 per share, for a total transaction of $100,320.00. Following the purchase, the insider now directly owns 7,504 shares in the company, valued at $132,070.40. The trade was a 315.96 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought a total of 7,400 shares of company stock worth $129,574 in the last quarter. 11.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On MVB Financial

Several hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in shares of MVB Financial during the fourth quarter valued at approximately $111,000. Wells Fargo & Company MN grew its stake in shares of MVB Financial by 20.3% in the 4th quarter. Wells Fargo & Company MN now owns 8,705 shares of the company’s stock worth $180,000 after buying an additional 1,467 shares during the last quarter. Empowered Funds LLC increased its position in MVB Financial by 5.1% during the 4th quarter. Empowered Funds LLC now owns 12,979 shares of the company’s stock valued at $269,000 after buying an additional 625 shares in the last quarter. Deutsche Bank AG purchased a new position in MVB Financial during the fourth quarter valued at $272,000. Finally, Two Sigma Advisers LP boosted its holdings in MVB Financial by 11.6% in the fourth quarter. Two Sigma Advisers LP now owns 13,500 shares of the company’s stock worth $279,000 after acquiring an additional 1,400 shares in the last quarter. Institutional investors own 52.72% of the company’s stock.

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.