McKinley Carter Wealth Services Inc. Grows Position in MVB Financial Corp. (NASDAQ:MVBF)

McKinley Carter Wealth Services Inc. increased its holdings in MVB Financial Corp. (NASDAQ:MVBF) by 15.5% in the first quarter, Holdings Channel reports. The fund owned 29,876 shares of the company’s stock after purchasing an additional 4,000 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in MVB Financial were worth $517,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. TimesSquare Capital Management LLC lifted its stake in MVB Financial by 19.3% in the fourth quarter. TimesSquare Capital Management LLC now owns 924,053 shares of the company’s stock worth $19,128,000 after acquiring an additional 149,464 shares during the period. Dimensional Fund Advisors LP lifted its stake in MVB Financial by 5.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 388,990 shares of the company’s stock worth $8,052,000 after acquiring an additional 20,992 shares during the period. Banco Santander S.A. purchased a new stake in MVB Financial in the fourth quarter worth about $7,558,000. Northern Trust Corp raised its holdings in MVB Financial by 3.6% in the fourth quarter. Northern Trust Corp now owns 99,258 shares of the company’s stock worth $2,055,000 after purchasing an additional 3,409 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in MVB Financial by 29.8% in the fourth quarter. Bank of New York Mellon Corp now owns 81,969 shares of the company’s stock worth $1,697,000 after purchasing an additional 18,825 shares in the last quarter. 52.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Larry F. Mazza sold 6,962 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $17.49, for a total value of $121,765.38. Following the transaction, the chief executive officer now owns 626,358 shares in the company, valued at approximately $10,955,001.42. This represents a 1.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph Ryan Rodriguez purchased 4,125 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The stock was acquired at an average price of $18.00 per share, for a total transaction of $74,250.00. Following the acquisition, the insider now owns 4,125 shares in the company, valued at $74,250. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 6,700 shares of company stock worth $120,777 over the last 90 days. 11.66% of the stock is currently owned by corporate insiders.

MVB Financial Stock Performance

MVBF opened at $20.23 on Thursday. MVB Financial Corp. has a 52-week low of $15.59 and a 52-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 0.24. The company has a market cap of $262.89 million, a P/E ratio of 13.22 and a beta of 0.96. The firm’s 50-day moving average price is $17.89 and its 200-day moving average price is $18.91.

MVB Financial (NASDAQ:MVBF) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.06. MVB Financial had a net margin of 8.78% and a return on equity of 6.76%. The firm had revenue of $33.68 million for the quarter, compared to the consensus estimate of $34.48 million. As a group, equities analysts anticipate that MVB Financial Corp. will post 1.4 EPS for the current fiscal year.

MVB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, May 30th. This represents a $0.68 annualized dividend and a dividend yield of 3.36%. MVB Financial’s dividend payout ratio (DPR) is currently 46.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Raymond James reduced their target price on shares of MVB Financial from $24.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods reduced their target price on shares of MVB Financial from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, March 3rd.

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.