Mvb Financial (NASDAQ:MVBF) Upgraded to Hold at Zacks Research

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

Other equities research analysts also recently issued research reports about the stock. TD Cowen raised their price objective on shares of Mvb Financial from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Wall Street Zen upgraded Mvb Financial from a “sell” rating to a “hold” rating in a research report on Monday, June 1st. Keefe, Bruyette & Woods raised their price target on Mvb Financial from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded Mvb Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, July 2nd. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.75.

Mvb Financial Stock Down 2.0%

Shares of Mvb Financial stock opened at $30.59 on Monday. Mvb Financial has a one year low of $23.58 and a one year high of $31.99. The company has a market cap of $396.69 million, a P/E ratio of 10.33 and a beta of 0.81. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a fifty day moving average of $29.93 and a two-hundred day moving average of $27.63.

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

Mvb Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.17 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.68 annualized dividend and a dividend yield of 2.2%. Mvb Financial’s dividend payout ratio (DPR) is 22.97%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System increased its holdings in Mvb Financial by 652.9% in the second quarter. California State Teachers Retirement System now owns 4,555 shares of the company’s stock valued at $132,000 after buying an additional 3,950 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of Mvb Financial during the 2nd quarter valued at approximately $1,184,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Mvb Financial during the 2nd quarter worth approximately $48,000. Pure Financial Advisors LLC acquired a new stake in shares of Mvb Financial in the 2nd quarter worth approximately $2,461,000. Finally, Bank of America Corp DE acquired a new stake in shares of Mvb Financial in the 2nd quarter worth approximately $270,000. 52.72% of the stock is currently owned by institutional investors and hedge funds.

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.