JPMorgan Chase & Co. Lowers MVB Financial (NASDAQ:MVBF) Price Target to $25.00

MVB Financial (NASDAQ:MVBF) had its price objective reduced by JPMorgan Chase & Co. from $28.00 to $25.00 in a research report report published on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

Separately, Keefe, Bruyette & Woods lowered their target price on shares of MVB Financial from $26.00 to $25.00 and set an outperform rating on the stock in a research note on Friday, March 1st.

MVB Financial Trading Up 0.2 %

NASDAQ:MVBF opened at $18.52 on Wednesday. The company has a 50 day simple moving average of $20.60 and a two-hundred day simple moving average of $21.13. The company has a market cap of $237.80 million, a PE ratio of 9.90 and a beta of 1.04. MVB Financial has a 12 month low of $16.43 and a 12 month high of $27.23. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.25.

MVB Financial (NASDAQ:MVBF) last issued its quarterly earnings results on Monday, April 29th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.04). The business had revenue of $57.86 million for the quarter, compared to analysts’ expectations of $37.47 million. MVB Financial had a return on equity of 8.76% and a net margin of 11.10%. Research analysts forecast that MVB Financial will post 1.64 earnings per share for the current year.

MVB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend was Thursday, February 29th. MVB Financial’s payout ratio is currently 36.36%.

Institutional Trading of MVB Financial

A number of large investors have recently made changes to their positions in MVBF. TimesSquare Capital Management LLC increased its holdings in shares of MVB Financial by 16.9% in the 4th quarter. TimesSquare Capital Management LLC now owns 615,935 shares of the company’s stock worth $13,895,000 after buying an additional 88,975 shares during the last quarter. Wellington Management Group LLP grew its holdings in MVB Financial by 4.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,304,617 shares of the company’s stock valued at $29,458,000 after purchasing an additional 51,342 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in MVB Financial during the 4th quarter valued at about $736,000. BNP Paribas Financial Markets grew its holdings in MVB Financial by 515.9% during the 1st quarter. BNP Paribas Financial Markets now owns 20,195 shares of the company’s stock valued at $451,000 after purchasing an additional 16,916 shares during the last quarter. Finally, Sippican Capital Advisors bought a new position in MVB Financial during the 1st quarter valued at about $308,000. 52.72% of the stock is currently owned by institutional investors.

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.