112,129 Shares in Mvb Financial Corp. $MVBF Purchased by Diamond Hill Capital Management LLC Investment Advisor

Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in Mvb Financial Corp. (NASDAQ:MVBF) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 112,129 shares of the company’s stock, valued at approximately $3,253,000.

Several other institutional investors also recently bought and sold shares of MVBF. Bank of New York Mellon Corp purchased a new stake in Mvb Financial during the 2nd quarter worth approximately $1,780,000. Empowered Funds LLC raised its holdings in shares of Mvb Financial by 9.9% during the first quarter. Empowered Funds LLC now owns 37,845 shares of the company’s stock valued at $940,000 after acquiring an additional 3,420 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Mvb Financial by 6.3% in the first quarter. Bank of America Corp DE now owns 11,627 shares of the company’s stock valued at $289,000 after acquiring an additional 686 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of Mvb Financial by 2.6% in the first quarter. Quantinno Capital Management LP now owns 28,537 shares of the company’s stock valued at $709,000 after acquiring an additional 722 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Mvb Financial by 7.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 54,309 shares of the company’s stock valued at $1,348,000 after acquiring an additional 3,806 shares in the last quarter. 52.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on MVBF. TD Cowen boosted their price target on Mvb Financial from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Keefe, Bruyette & Woods raised their price objective on Mvb Financial from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Weiss Ratings raised shares of Mvb Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 2nd. Raymond James Financial cut shares of Mvb Financial from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 30th. Finally, Wall Street Zen raised shares of Mvb Financial from a “sell” rating to a “hold” rating in a research note on Monday, June 1st. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.75.

Mvb Financial Stock Down 0.1%

Shares of NASDAQ:MVBF opened at $30.69 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.16. The business has a fifty day moving average of $29.17 and a two-hundred day moving average of $27.39. The stock has a market cap of $398.05 million, a P/E ratio of 10.37 and a beta of 0.80. Mvb Financial Corp. has a 52-week low of $22.85 and a 52-week high of $31.99.

Mvb Financial (NASDAQ:MVBF) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.34 by $0.59. The business had revenue of $50.73 million for the quarter, compared to analyst estimates of $36.94 million. Mvb Financial had a return on equity of 2.86% and a net margin of 17.53%. On average, research analysts expect that Mvb Financial Corp. will post 1.63 earnings per share for the current year.

Mvb Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.68 dividend on an annualized basis and a yield of 2.2%. Mvb Financial’s payout ratio is 22.97%.

Mvb Financial 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.