Mvb Financial (NASDAQ:MVBF) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research downgraded shares of Mvb Financial (NASDAQ:MVBF) from a hold rating to a strong sell rating in a research report released on Monday,Zacks.com reports.

Several other equities analysts have also commented on MVBF. Weiss Ratings lowered Mvb Financial from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Wall Street Zen raised Mvb Financial from a “sell” rating to a “hold” rating in a report on Monday, June 1st. Raymond James Financial lowered Mvb Financial from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 30th. Finally, TD Cowen lowered their price objective on Mvb Financial from $35.00 to $32.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Four 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $31.25.

Mvb Financial Stock Down 0.5%

Shares of NASDAQ:MVBF opened at $29.01 on Monday. The company’s fifty day moving average is $26.77 and its two-hundred day moving average is $26.73. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 0.92. Mvb Financial has a 1-year low of $22.14 and a 1-year high of $29.59. The stock has a market capitalization of $372.78 million, a price-to-earnings ratio of 13.31 and a beta of 0.82.

Mvb Financial (NASDAQ:MVBF) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. The business had revenue of $36.53 million during the quarter, compared to analyst estimates of $37.72 million. Mvb Financial had a net margin of 13.98% and a return on equity of 2.54%. Equities analysts anticipate that Mvb Financial will post 1.69 EPS for the current year.

Mvb Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, June 1st. Mvb Financial’s payout ratio is 31.19%.

Institutional Trading of Mvb Financial

Hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. boosted its position in 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 acquiring an additional 3,213 shares during the period. Empowered Funds LLC increased its holdings in shares of Mvb Financial by 9.0% during the first quarter. Empowered Funds LLC now owns 14,144 shares of the company’s stock valued at $245,000 after purchasing an additional 1,165 shares during the period. Jane Street Group LLC acquired a new position in shares of Mvb Financial during the first quarter valued at $230,000. Strs Ohio bought a new stake in shares of Mvb Financial during the first quarter valued at about $132,000. Finally, Geode Capital Management LLC raised its stake in shares of Mvb Financial by 0.8% during the second quarter. Geode Capital Management LLC now owns 277,417 shares of the company’s stock valued at $6,252,000 after purchasing an additional 2,160 shares in the last quarter. Institutional investors own 52.72% of the company’s stock.

Mvb Financial Company Profile

MVB Financial Corp is a bank holding company based in Fairmont, West Virginia, serving individuals and businesses through its subsidiary, MVB Bank, Inc The company operates under a “Local First Banking” philosophy, emphasizing personalized service across its branch network. Its core business activities include deposit-taking, commercial lending, residential mortgage origination, and wealth management services.

On the deposit side, MVB Bank offers a range of products such as checking and savings accounts, money market accounts, and certificates of deposit.