JPMorgan Chase & Co. Acquires 18,318 Shares of MVB Financial Corp. (NASDAQ:MVBF)

JPMorgan Chase & Co. increased its stake in shares of MVB Financial Corp. (NASDAQ:MVBF - Free Report) by 39.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 64,244 shares of the company's stock after acquiring an additional 18,318 shares during the period. JPMorgan Chase & Co. owned about 0.50% of MVB Financial worth $1,330,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Banco Santander S.A. bought a new stake in shares of MVB Financial during the 4th quarter worth approximately $7,558,000. TimesSquare Capital Management LLC increased its holdings in MVB Financial by 19.3% during the fourth quarter. TimesSquare Capital Management LLC now owns 924,053 shares of the company's stock worth $19,128,000 after buying an additional 149,464 shares during the last quarter. Bank of New York Mellon Corp raised its position in MVB Financial by 29.8% during the fourth quarter. Bank of New York Mellon Corp now owns 81,969 shares of the company's stock worth $1,697,000 after acquiring an additional 18,825 shares in the last quarter. Barclays PLC lifted its stake in MVB Financial by 99.5% in the third quarter. Barclays PLC now owns 24,436 shares of the company's stock valued at $474,000 after acquiring an additional 12,190 shares during the last quarter. Finally, Inspire Investing LLC grew its position in shares of MVB Financial by 18.7% in the 4th quarter. Inspire Investing LLC now owns 47,302 shares of the company's stock valued at $979,000 after acquiring an additional 7,447 shares during the period. 52.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Raymond James cut their price target on MVB Financial from $24.00 to $20.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods cut their price objective on shares of MVB Financial from $26.00 to $25.00 and set an "outperform" rating for the company in a research report on Monday, March 3rd.

MVB Financial Price Performance

MVBF traded up $0.43 on Tuesday, reaching $17.05. The stock had a trading volume of 21,526 shares, compared to its average volume of 29,406. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $220.80 million, a price-to-earnings ratio of 11.14 and a beta of 0.89. MVB Financial Corp. has a fifty-two week low of $15.59 and a fifty-two week high of $25.24. The firm has a 50-day moving average of $17.19 and a 200-day moving average of $19.31.

MVB Financial (NASDAQ:MVBF - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.39. MVB Financial had a return on equity of 6.76% and a net margin of 8.78%. The company had revenue of $46.18 million during the quarter, compared to the consensus estimate of $33.60 million. As a group, sell-side analysts anticipate that MVB Financial Corp. will post 1.4 EPS for the current year.

MVB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were given a $0.17 dividend. 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 3.99%. MVB Financial's dividend payout ratio (DPR) is presently 44.44%.

Insider Activity

In other news, insider Michael Louis Giorgio acquired 5,700 shares of MVB Financial stock in a transaction dated Wednesday, March 12th. The shares were bought at an average cost of $17.60 per share, with a total value of $100,320.00. Following the purchase, the insider now owns 7,504 shares in the company, valued at $132,070.40. This trade represents a 315.96 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders purchased 7,400 shares of company stock valued at $129,574. Company insiders own 11.66% of the company's stock.

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.