TimesSquare Capital Management LLC Reduces Stock Holdings in Mvb Financial Corp. $MVBF

TimesSquare Capital Management LLC trimmed its position in Mvb Financial Corp. (NASDAQ:MVBF) by 23.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 594,548 shares of the company’s stock after selling 181,222 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Mvb Financial were worth $13,395,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Bridgeway Capital Management LLC increased its stake in Mvb Financial by 9.0% during the first quarter. Bridgeway Capital Management LLC now owns 163,744 shares of the company’s stock worth $2,836,000 after acquiring an additional 13,565 shares during the last quarter. American Century Companies Inc. increased its position in shares of Mvb Financial by 13.7% during the 1st quarter. American Century Companies Inc. now owns 111,369 shares of the company’s stock worth $1,929,000 after purchasing an additional 13,418 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Mvb Financial by 5.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 62,462 shares of the company’s stock worth $1,082,000 after purchasing an additional 3,213 shares during the last quarter. Nuveen LLC purchased a new stake in Mvb Financial in the 1st quarter valued at about $815,000. Finally, Sippican Capital Advisors lifted its position in Mvb Financial by 12.0% in the second quarter. Sippican Capital Advisors now owns 42,755 shares of the company’s stock valued at $963,000 after buying an additional 4,580 shares during the last quarter. 52.72% of the stock is currently owned by institutional investors and hedge funds.

Mvb Financial Trading Down 0.3%

NASDAQ:MVBF opened at $26.45 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.23. The firm has a market cap of $332.85 million, a PE ratio of 10.75 and a beta of 1.09. The stock has a fifty day moving average price of $25.53 and a 200 day moving average price of $22.89. Mvb Financial Corp. has a 12-month low of $15.59 and a 12-month high of $27.49.

Mvb Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 1st were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.6%. The ex-dividend date was Friday, August 29th. Mvb Financial’s payout ratio is 27.64%.

Insiders Place Their Bets

In other Mvb Financial news, CFO Michael Robert Sumbs purchased 2,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was bought at an average cost of $26.00 per share, with a total value of $52,000.00. Following the acquisition, the chief financial officer directly owned 2,000 shares of the company’s stock, valued at approximately $52,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.66% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on MVBF. TD Cowen started coverage on shares of Mvb Financial in a research note on Thursday, September 25th. They issued a “buy” rating and a $35.00 price target on the stock. Wall Street Zen raised Mvb Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Keefe, Bruyette & Woods upped their price target on Mvb Financial from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday. Hovde Group lifted their price objective on Mvb Financial from $27.00 to $31.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Finally, Raymond James Financial set a $30.00 price objective on Mvb Financial and gave the company an “outperform” rating in a report on Tuesday, October 7th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.50.

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.