Mvb Financial Corp. (NASDAQ:MVBF – Get Free Report) shares shot up 2.5% during trading on Thursday. The stock traded as high as $30.00 and last traded at $29.79. Approximately 96,321 shares traded hands during mid-day trading, an increase of 115% from the average session volume of 44,724 shares. The stock had previously closed at $29.06.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on MVBF. Weiss Ratings reiterated a “buy (b)” rating on shares of Mvb Financial in a research report on Tuesday. Keefe, Bruyette & Woods upped their price target on shares of Mvb Financial from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Zacks Research raised shares of Mvb Financial from a “strong sell” rating to a “hold” rating in a report on Monday, September 7th. Finally, TD Cowen boosted their target price on shares of Mvb Financial from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.75.
Read Our Latest Report on Mvb Financial
Mvb Financial Price Performance
Mvb Financial (NASDAQ:MVBF – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $36.94 million. Sell-side analysts expect that Mvb Financial Corp. will post 1.63 EPS for the current fiscal year.
Mvb Financial Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Tuesday, September 1st. Mvb Financial’s dividend payout ratio (DPR) is currently 22.97%.
Hedge Funds Weigh In On Mvb Financial
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Mvb Financial in the 2nd quarter valued at about $30,152,000. Basswood Capital Management L.L.C. bought a new stake in Mvb Financial in the second quarter valued at approximately $7,477,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Mvb Financial in the second quarter worth $3,253,000. Pure Financial Advisors LLC acquired a new stake in Mvb Financial in the second quarter worth $2,461,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Mvb Financial during the second quarter worth $1,780,000. Institutional investors and hedge funds own 52.72% of the company’s stock.
About Mvb Financial
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