Hsbc Holdings PLC Makes New Investment in MVB Financial Corp. (NASDAQ:MVBF)

Hsbc Holdings PLC purchased a new stake in shares of MVB Financial Corp. (NASDAQ:MVBF) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 17,038 shares of the company’s stock, valued at approximately $348,000. Hsbc Holdings PLC owned about 0.13% of MVB Financial as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in MVB Financial in the 4th quarter worth approximately $111,000. Wells Fargo & Company MN increased its position in MVB Financial by 20.3% during the fourth quarter. Wells Fargo & Company MN now owns 8,705 shares of the company’s stock valued at $180,000 after acquiring an additional 1,467 shares during the last quarter. Empowered Funds LLC lifted its holdings in MVB Financial by 5.1% in the fourth quarter. Empowered Funds LLC now owns 12,979 shares of the company’s stock valued at $269,000 after acquiring an additional 625 shares during the period. Trexquant Investment LP purchased a new position in MVB Financial in the fourth quarter worth about $311,000. Finally, Fourthstone LLC bought a new stake in shares of MVB Financial during the 4th quarter valued at about $343,000. 52.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MVBF has been the topic of a number of research reports. Keefe, Bruyette & Woods dropped their price objective on shares of MVB Financial from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Raymond James reduced their price objective on MVB Financial from $24.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, April 2nd.

Insider Buying and Selling

In other MVB Financial news, insider Michael Louis Giorgio purchased 5,700 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average price of $17.60 per share, with a total value of $100,320.00. Following the completion of the purchase, the insider now directly owns 7,504 shares in the company, valued at $132,070.40. This trade represents a 315.96 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Larry F. Mazza sold 6,962 shares of MVB Financial stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $17.49, for a total transaction of $121,765.38. Following the completion of the transaction, the chief executive officer now directly owns 626,358 shares of the company’s stock, valued at $10,955,001.42. The trade was a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 7,400 shares of company stock worth $129,574. 11.66% of the stock is owned by insiders.

MVB Financial Stock Performance

Shares of NASDAQ MVBF opened at $17.94 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.94. MVB Financial Corp. has a 1 year low of $15.59 and a 1 year high of $25.24. The firm has a fifty day moving average price of $17.00 and a 200-day moving average price of $19.19. The stock has a market cap of $232.32 million, a PE ratio of 11.73 and a beta of 0.92.

MVB Financial (NASDAQ:MVBF) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.21 by $0.06. MVB Financial had a return on equity of 6.76% and a net margin of 8.78%. The business had revenue of $33.68 million for the quarter, compared to the consensus estimate of $34.48 million. Equities analysts anticipate that MVB Financial Corp. will post 1.4 earnings per share for the current fiscal year.

MVB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.79%. The ex-dividend date was Friday, February 28th. MVB Financial’s dividend payout ratio (DPR) is presently 46.58%.

MVB Financial 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.