Mvb Financial (NASDAQ:MVBF – Get Free Report) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday, Zacks reports.
A number of other brokerages have also recently issued reports on MVBF. Wall Street Zen upgraded shares of Mvb Financial from a “sell” rating to a “hold” rating in a research report on Monday, June 1st. Weiss Ratings raised shares of Mvb Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, July 2nd. TD Cowen raised their price objective on shares of Mvb Financial from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Mvb Financial from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.75.
Get Our Latest Stock Report on MVBF
Mvb Financial Stock Performance
Mvb Financial (NASDAQ:MVBF – Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.59. Mvb Financial had a return on equity of 2.86% and a net margin of 17.53%.The company had revenue of $50.73 million during the quarter, compared to analysts’ expectations of $36.94 million. As a group, analysts predict that Mvb Financial will post 1.63 EPS for the current fiscal year.
Institutional Investors Weigh In On Mvb Financial
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System raised its stake in shares of Mvb Financial by 652.9% in the second quarter. California State Teachers Retirement System now owns 4,555 shares of the company’s stock worth $132,000 after acquiring an additional 3,950 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Mvb Financial during the second quarter valued at approximately $1,184,000. Public Employees Retirement System of Ohio acquired a new position in Mvb Financial during the 2nd quarter worth $48,000. Pure Financial Advisors LLC acquired a new position in Mvb Financial during the 2nd quarter worth $2,461,000. Finally, Bank of America Corp DE bought a new position in Mvb Financial in the 2nd quarter valued at $270,000. Institutional investors and hedge funds own 52.72% of the company’s stock.
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.
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