MVB Financial (NASDAQ:MVBF – Free Report) had its price objective reduced by JPMorgan Chase & Co. from $28.00 to $25.00 in a research note issued to investors on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.
Separately, Keefe, Bruyette & Woods cut their price target on MVB Financial from $26.00 to $25.00 and set an outperform rating for the company in a research note on Friday, March 1st.
View Our Latest Stock Report on MVB Financial
MVB Financial Stock Up 2.3 %
MVB Financial (NASDAQ:MVBF – Get Free Report) last released its earnings results on Monday, April 29th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). MVB Financial had a net margin of 11.10% and a return on equity of 8.76%. The business had revenue of $57.86 million during the quarter, compared to analysts’ expectations of $37.47 million. As a group, research analysts expect that MVB Financial will post 1.81 earnings per share for the current year.
MVB Financial Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.17 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.68 annualized dividend and a yield of 3.70%. MVB Financial’s dividend payout ratio (DPR) is 36.36%.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its position in shares of MVB Financial by 4.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,304,617 shares of the company’s stock valued at $29,458,000 after acquiring an additional 51,342 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of MVB Financial in the 4th quarter worth approximately $736,000. SG Americas Securities LLC raised its holdings in shares of MVB Financial by 23.9% in the 4th quarter. SG Americas Securities LLC now owns 5,957 shares of the company’s stock worth $134,000 after buying an additional 1,151 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of MVB Financial by 101.0% during the 3rd quarter. New York State Common Retirement Fund now owns 4,795 shares of the company’s stock worth $108,000 after buying an additional 2,409 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in MVB Financial by 4.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 84,867 shares of the company’s stock valued at $1,916,000 after buying an additional 3,261 shares in the last quarter. 52.72% of the stock is currently owned by institutional investors and hedge funds.
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.
Featured Stories
- Five stocks we like better than MVB Financial
- Best Stocks Under $10.00
- Kraft Heinz: Serving Up A Tasty Dip for Investors to Snack On
- What to Know About Investing in Penny Stocks
- Yum! Brands: Can Digital Strength Offset Same-Store Declines?
- How to Invest in Insurance Companies: A Guide
- Wall Street Believes in First Solar Stock’s Bull Cycle
Receive News & Ratings for MVB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MVB Financial and related companies with MarketBeat.com's FREE daily email newsletter.