JPMorgan Chase & Co. raised its position in shares of MVB Financial Corp. (NASDAQ:MVBF – Free Report) by 30.2% during the third quarter, HoldingsChannel reports. The fund owned 45,926 shares of the company’s stock after acquiring an additional 10,649 shares during the quarter. JPMorgan Chase & Co.’s holdings in MVB Financial were worth $889,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the company. Inspire Investing LLC purchased a new position in MVB Financial during the 3rd quarter valued at $772,000. Martingale Asset Management L P bought a new stake in shares of MVB Financial during the third quarter worth $376,000. Dimensional Fund Advisors LP lifted its position in shares of MVB Financial by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 343,623 shares of the company’s stock worth $6,405,000 after purchasing an additional 18,649 shares during the last quarter. Natixis Advisors LLC bought a new stake in shares of MVB Financial during the third quarter worth $242,000. Finally, Barclays PLC boosted its stake in shares of MVB Financial by 99.5% during the third quarter. Barclays PLC now owns 24,436 shares of the company’s stock valued at $474,000 after purchasing an additional 12,190 shares during the period. Institutional investors own 52.72% of the company’s stock.
Analyst Ratings Changes
Separately, Keefe, Bruyette & Woods raised their price target on shares of MVB Financial from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th.
Get Our Latest Stock Report on MVB Financial
MVB Financial Trading Up 0.8 %
MVBF opened at $19.55 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 stock’s fifty day moving average is $20.63 and its two-hundred day moving average is $20.63. The company has a market capitalization of $252.98 million, a P/E ratio of 13.77 and a beta of 1.06. MVB Financial Corp. has a 52 week low of $17.51 and a 52 week high of $25.24.
MVB Financial (NASDAQ:MVBF – Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.19). MVB Financial had a net margin of 8.49% and a return on equity of 6.29%. The firm had revenue of $53.28 million for the quarter, compared to analysts’ expectations of $35.90 million. Analysts forecast that MVB Financial Corp. will post 1.08 earnings per share for the current year.
MVB Financial Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were given a $0.17 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.68 annualized dividend and a dividend yield of 3.48%. MVB Financial’s payout ratio is presently 47.89%.
MVB Financial Profile
(Free Report)
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.
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