Bridgeway Capital Management LLC Sells 34,375 Shares of MVB Financial Corp. (NASDAQ:MVBF)

Bridgeway Capital Management LLC lowered its stake in MVB Financial Corp. (NASDAQ:MVBF) by 18.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 150,179 shares of the company’s stock after selling 34,375 shares during the quarter. Bridgeway Capital Management LLC’s holdings in MVB Financial were worth $3,109,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in MVBF. SG Americas Securities LLC bought a new stake in MVB Financial during the 4th quarter worth approximately $111,000. Wells Fargo & Company MN increased its stake in shares of MVB Financial by 20.3% in the fourth quarter. Wells Fargo & Company MN now owns 8,705 shares of the company’s stock worth $180,000 after purchasing an additional 1,467 shares in the last quarter. Empowered Funds LLC raised its position in shares of MVB Financial by 5.1% during the 4th quarter. Empowered Funds LLC now owns 12,979 shares of the company’s stock valued at $269,000 after purchasing an additional 625 shares during the period. Trexquant Investment LP purchased a new position in shares of MVB Financial during the 4th quarter valued at $311,000. Finally, Fourthstone LLC bought a new position in MVB Financial in the 4th quarter worth $343,000. 52.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Larry F. Mazza sold 6,962 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $17.49, for a total transaction of $121,765.38. Following the transaction, the chief executive officer now directly owns 626,358 shares in the company, valued at approximately $10,955,001.42. This represents a 1.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael Louis Giorgio acquired 5,700 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was purchased at an average cost of $17.60 per share, with a total value of $100,320.00. Following the purchase, the insider now owns 7,504 shares of the company’s stock, valued at $132,070.40. The trade was a 315.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 7,400 shares of company stock worth $129,574. 11.66% of the stock is currently owned by corporate insiders.

MVB Financial Trading Up 1.6 %

Shares of MVB Financial stock opened at $17.94 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.24. The firm has a market cap of $232.32 million, a price-to-earnings ratio of 11.73 and a beta of 0.92. MVB Financial Corp. has a twelve month low of $15.59 and a twelve month high of $25.24. The business has a 50-day moving average price of $17.00 and a 200-day moving average price of $19.19.

MVB Financial (NASDAQ:MVBF) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.06. MVB Financial had a return on equity of 6.76% and a net margin of 8.78%. The business had revenue of $33.68 million for the quarter, compared to analysts’ expectations of $34.48 million. Equities research analysts anticipate that MVB Financial Corp. will post 1.4 EPS for the current fiscal year.

MVB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were paid a $0.17 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.79%. MVB Financial’s payout ratio is currently 46.58%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods dropped their price objective on MVB Financial from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Raymond James dropped their price target on MVB Financial from $24.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, April 2nd.

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.