Bank of New York Mellon Corp Has $1.70 Million Stake in MVB Financial Corp. (NASDAQ:MVBF)

Bank of New York Mellon Corp increased its holdings in shares of MVB Financial Corp. (NASDAQ:MVBF - Free Report) by 29.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 81,969 shares of the company's stock after purchasing an additional 18,825 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.63% of MVB Financial worth $1,697,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MVBF. Empowered Funds LLC raised its stake in MVB Financial by 4.5% in the 3rd quarter. Empowered Funds LLC now owns 12,354 shares of the company's stock valued at $239,000 after acquiring an additional 536 shares during the period. Natixis Advisors LLC acquired a new stake in shares of MVB Financial during the 3rd quarter worth about $242,000. Martingale Asset Management L P bought a new stake in shares of MVB Financial during the 3rd quarter worth about $376,000. State Street Corp raised its holdings in MVB Financial by 2.9% in the 3rd quarter. State Street Corp now owns 225,727 shares of the company's stock valued at $4,370,000 after acquiring an additional 6,274 shares during the period. Finally, Barclays PLC lifted its position in MVB Financial by 99.5% during the third quarter. Barclays PLC now owns 24,436 shares of the company's stock worth $474,000 after acquiring an additional 12,190 shares during the last quarter. Institutional investors own 52.72% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods decreased their target price on MVB Financial from $26.00 to $25.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd.

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Insider Transactions at MVB Financial

In other news, insider Michael Louis Giorgio acquired 5,700 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average cost 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 of the company's stock, valued at $132,070.40. The trade was a 315.96 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have purchased 7,400 shares of company stock valued at $129,574. 11.10% of the stock is owned by corporate insiders.

MVB Financial Stock Performance

NASDAQ:MVBF traded up $0.01 during mid-day trading on Wednesday, reaching $17.46. 9,881 shares of the company's stock were exchanged, compared to its average volume of 26,974. MVB Financial Corp. has a one year low of $16.81 and a one year high of $25.24. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.94 and a current ratio of 0.94. The business's fifty day simple moving average is $18.87 and its two-hundred day simple moving average is $19.84. The firm has a market capitalization of $226.09 million, a PE ratio of 11.41 and a beta of 1.03.

MVB Financial (NASDAQ:MVBF - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.33 by $0.39. The company had revenue of $46.18 million for the quarter, compared to analysts' expectations of $33.60 million. MVB Financial had a net margin of 8.78% and a return on equity of 6.76%. Analysts anticipate that MVB Financial Corp. will post 1.4 earnings per share for the current fiscal year.

MVB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.89%. MVB Financial's payout ratio is 44.44%.

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.