MVB Financial Corp. Announces Quarterly Dividend of $0.17 (NASDAQ:MVBF)

MVB Financial Corp. (NASDAQ:MVBF) announced a quarterly dividend on Wednesday, May 22nd, investing.com reports. Stockholders of record on Saturday, June 1st will be given a dividend of 0.17 per share on Saturday, June 15th. This represents a $0.68 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Friday, May 31st.

MVB Financial has increased its dividend payment by an average of 23.6% annually over the last three years. MVB Financial has a payout ratio of 32.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect MVB Financial to earn $2.11 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 32.2%.

MVB Financial Trading Down 2.7 %

Shares of MVB Financial stock opened at $18.32 on Friday. MVB Financial has a fifty-two week low of $17.25 and a fifty-two week high of $27.23. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $236.14 million, a price-to-earnings ratio of 9.80 and a beta of 1.04. The stock has a 50 day moving average of $19.97 and a 200 day moving average of $20.93.

MVB Financial (NASDAQ:MVBF) last released its quarterly earnings results on Monday, April 29th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates 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 8.65% and a net margin of 11.10%. As a group, research analysts predict that MVB Financial will post 1.65 earnings per share for the current year.

Wall Street Analyst Weigh In

MVBF has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of MVB Financial from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Keefe, Bruyette & Woods dropped their price objective on MVB Financial from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. Finally, Hovde Group cut MVB Financial from an “outperform” rating to a “market perform” rating and set a $21.00 target price on the stock. in a research report on Wednesday, May 15th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.25.

About MVB Financial

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.