Zacks Research Downgrades Mvb Financial (NASDAQ:MVBF) to Strong Sell

Mvb Financial (NASDAQ:MVBF) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Wall Street Zen upgraded shares of Mvb Financial from a “sell” rating to a “hold” rating in a research note on Monday, June 1st. TD Cowen dropped their price target on Mvb Financial from $35.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, May 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, Weiss Ratings downgraded Mvb Financial from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Four 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.25.

Mvb Financial Stock Down 0.5%

Shares of NASDAQ MVBF opened at $29.01 on Monday. The stock has a market cap of $372.78 million, a P/E ratio of 13.31 and a beta of 0.82. The business’s fifty day simple moving average is $26.77 and its 200-day simple moving average is $26.73. Mvb Financial has a 12-month low of $22.14 and a 12-month high of $29.59. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16.

Mvb Financial (NASDAQ:MVBF) last released its earnings results on Wednesday, April 29th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.37 by $0.02. The firm had revenue of $36.53 million during the quarter, compared to analysts’ expectations of $37.72 million. Mvb Financial had a return on equity of 2.54% and a net margin of 13.98%. As a group, equities analysts predict that Mvb Financial will post 1.69 EPS for the current fiscal year.

Institutional Trading of Mvb Financial

A number of institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. increased its holdings in Mvb Financial by 2,673.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,137 shares of the company’s stock valued at $28,000 after acquiring an additional 1,096 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Mvb Financial during the 2nd quarter worth $32,000. Tower Research Capital LLC TRC grew its position in shares of Mvb Financial by 200.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,870 shares of the company’s stock valued at $42,000 after purchasing an additional 1,248 shares during the period. Huntington National Bank acquired a new position in Mvb Financial in the third quarter valued at $138,000. Finally, Strs Ohio purchased a new position in Mvb Financial during the first quarter worth about $132,000. 52.72% of the stock is currently owned by hedge funds and other institutional investors.

About Mvb Financial

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.