Zacks: Brokerages Anticipate MVB Financial Corp. (NASDAQ:MVBF) Will Announce Earnings of $0.37 Per Share

Wall Street brokerages predict that MVB Financial Corp. (NASDAQ:MVBFGet Rating) will report earnings per share (EPS) of $0.37 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for MVB Financial’s earnings, with the lowest EPS estimate coming in at $0.34 and the highest estimate coming in at $0.40. MVB Financial posted earnings of $0.73 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 49.3%. The company is scheduled to report its next earnings report on Monday, January 1st.

On average, analysts expect that MVB Financial will report full year earnings of $1.60 per share for the current fiscal year, with EPS estimates ranging from $1.51 to $1.69. For the next financial year, analysts anticipate that the business will post earnings of $3.05 per share, with EPS estimates ranging from $2.85 to $3.25. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow MVB Financial.

MVB Financial (NASDAQ:MVBFGet Rating) last announced its quarterly earnings results on Monday, May 2nd. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.13). MVB Financial had a net margin of 22.65% and a return on equity of 12.85%.

A number of equities analysts have recently issued reports on MVBF shares. Raymond James began coverage on shares of MVB Financial in a research report on Friday, April 1st. They set a “strong-buy” rating and a $64.00 target price on the stock. Piper Sandler raised their target price on MVB Financial from $43.00 to $44.50 and gave the company a “neutral” rating in a report on Thursday, March 17th. Finally, Zacks Investment Research downgraded MVB Financial from a “hold” rating to a “sell” rating in a report on Wednesday, May 18th.

Shares of MVBF opened at $35.65 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.28. The firm has a market cap of $433.04 million, a PE ratio of 13.50 and a beta of 0.89. The company’s 50 day simple moving average is $39.66 and its 200-day simple moving average is $40.23. MVB Financial has a 12-month low of $34.98 and a 12-month high of $45.44.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.91%. The ex-dividend date is Tuesday, May 31st. MVB Financial’s payout ratio is 25.76%.

A number of hedge funds have recently made changes to their positions in MVBF. Citigroup Inc. raised its stake in MVB Financial by 145.2% in the 3rd quarter. Citigroup Inc. now owns 1,150 shares of the company’s stock valued at $49,000 after purchasing an additional 681 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in MVB Financial by 113.5% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,464 shares of the company’s stock valued at $106,000 after purchasing an additional 1,310 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in MVB Financial in the 4th quarter valued at about $133,000. Barclays PLC grew its holdings in MVB Financial by 231.8% in the 3rd quarter. Barclays PLC now owns 4,131 shares of the company’s stock valued at $177,000 after buying an additional 2,886 shares during the period. Finally, MetLife Investment Management LLC grew its holdings in MVB Financial by 58.5% in the 1st quarter. MetLife Investment Management LLC now owns 6,009 shares of the company’s stock valued at $249,000 after buying an additional 2,218 shares during the period. 46.31% of the stock is owned by hedge funds and other institutional investors.

About MVB Financial (Get Rating)

MVB Financial Corp., through its subsidiaries, provides financial services to individuals and corporate clients in the Mid-Atlantic region and internationally. The company operates through three segments: CoRe Banking, Mortgage Banking, and 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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Earnings History and Estimates for MVB Financial (NASDAQ:MVBF)

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