Insider Buying: Mvb Financial (NASDAQ:MVBF) Director Acquires $13,850.00 in Stock

Mvb Financial Corp. (NASDAQ:MVBF) Director Richard James Cordella, Jr. bought 500 shares of the firm’s stock in a transaction on Friday, December 5th. The shares were bought at an average cost of $27.70 per share, with a total value of $13,850.00. Following the purchase, the director directly owned 500 shares in the company, valued at approximately $13,850. This trade 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 hyperlink.

Mvb Financial Stock Up 5.2%

Shares of MVBF stock opened at $28.37 on Thursday. The stock’s 50 day simple moving average is $26.42 and its 200 day simple moving average is $24.08. Mvb Financial Corp. has a twelve month low of $15.59 and a twelve month high of $28.45. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $356.89 million, a price-to-earnings ratio of 11.53 and a beta of 0.95.

Mvb Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $0.17 dividend. The ex-dividend date is Monday, December 1st. This represents a $0.68 dividend on an annualized basis and a yield of 2.4%. Mvb Financial’s dividend payout ratio (DPR) is presently 27.64%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MVBF. Nuveen LLC acquired a new stake in Mvb Financial during the first quarter valued at approximately $815,000. American Century Companies Inc. raised its holdings in shares of Mvb Financial by 13.7% in the 1st quarter. American Century Companies Inc. now owns 111,369 shares of the company’s stock worth $1,929,000 after buying an additional 13,418 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of Mvb Financial by 42.4% during the 1st quarter. Hsbc Holdings PLC now owns 24,257 shares of the company’s stock worth $420,000 after buying an additional 7,219 shares during the period. Bridgeway Capital Management LLC lifted its position in shares of Mvb Financial by 9.0% during the 1st quarter. Bridgeway Capital Management LLC now owns 163,744 shares of the company’s stock worth $2,836,000 after buying an additional 13,565 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Mvb Financial by 5.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 62,462 shares of the company’s stock valued at $1,082,000 after buying an additional 3,213 shares in the last quarter. Institutional investors and hedge funds own 52.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MVBF. Cowen started coverage on Mvb Financial in a research report on Wednesday, September 24th. They issued a “buy” rating on the stock. TD Cowen initiated coverage on Mvb Financial in a research report on Thursday, September 25th. They set a “buy” rating and a $35.00 target price on the stock. Keefe, Bruyette & Woods boosted their price target on Mvb Financial from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, November 10th. Hovde Group raised their price objective on Mvb Financial from $27.00 to $31.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Finally, Zacks Research lowered Mvb Financial from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $31.50.

Mvb Financial Company Profile

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.