TimesSquare Capital Management LLC Reduces Holdings in Mvb Financial Corp. $MVBF

TimesSquare Capital Management LLC reduced its stake in Mvb Financial Corp. (NASDAQ:MVBF) by 23.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 594,548 shares of the company’s stock after selling 181,222 shares during the quarter. TimesSquare Capital Management LLC owned about 4.58% of Mvb Financial worth $13,395,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of MVBF. Goldman Sachs Group Inc. raised its holdings in shares of Mvb Financial by 5.4% in the first quarter. Goldman Sachs Group Inc. now owns 62,462 shares of the company’s stock worth $1,082,000 after buying an additional 3,213 shares during the last quarter. Nuveen LLC purchased a new position in Mvb Financial in the 1st quarter worth $815,000. American Century Companies Inc. lifted its position in Mvb Financial by 13.7% during the 1st quarter. American Century Companies Inc. now owns 111,369 shares of the company’s stock worth $1,929,000 after acquiring an additional 13,418 shares during the period. Bridgeway Capital Management LLC grew its stake in Mvb Financial by 9.0% during the 1st quarter. Bridgeway Capital Management LLC now owns 163,744 shares of the company’s stock valued at $2,836,000 after purchasing an additional 13,565 shares during the last quarter. Finally, Sippican Capital Advisors raised its stake in shares of Mvb Financial by 12.0% in the second quarter. Sippican Capital Advisors now owns 42,755 shares of the company’s stock worth $963,000 after purchasing an additional 4,580 shares during the last quarter. Hedge funds and other institutional investors own 52.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MVBF. Zacks Research lowered Mvb Financial from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 4th. Hovde Group increased their price objective on shares of Mvb Financial from $27.00 to $31.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Cowen started coverage on shares of Mvb Financial in a report on Wednesday, September 24th. They issued a “buy” rating on the stock. Keefe, Bruyette & Woods raised their target price on Mvb Financial from $25.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Mvb Financial in a report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.50.

Mvb Financial Stock Down 0.3%

MVBF stock opened at $26.45 on Thursday. The stock has a market capitalization of $332.85 million, a P/E ratio of 10.75 and a beta of 1.09. Mvb Financial Corp. has a 52 week low of $15.59 and a 52 week high of $27.49. The firm has a 50-day simple moving average of $25.53 and a 200-day simple moving average of $22.89. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.23.

Mvb Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 1st were issued a $0.17 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.68 dividend on an annualized basis and a yield of 2.6%. Mvb Financial’s dividend payout ratio (DPR) is presently 27.64%.

Insider Activity

In other Mvb Financial news, CFO Michael Robert Sumbs bought 2,000 shares of Mvb Financial stock in a transaction dated Monday, November 3rd. The stock was acquired at an average cost of $26.00 per share, for a total transaction of $52,000.00. Following the completion of the transaction, the chief financial officer directly owned 2,000 shares of the company’s stock, valued at approximately $52,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 11.66% of the stock is owned by insiders.

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.