Kennedy Capital Management LLC Acquires Shares of 37,154 MVB Financial Corp. (NASDAQ:MVBF)

Kennedy Capital Management LLC acquired a new position in MVB Financial Corp. (NASDAQ:MVBF - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 37,154 shares of the company's stock, valued at approximately $769,000. Kennedy Capital Management LLC owned approximately 0.29% of MVB Financial as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of MVBF. Wells Fargo & Company MN lifted 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 purchasing an additional 1,467 shares during the period. Trexquant Investment LP bought a new position in MVB Financial in the 4th quarter worth $311,000. JPMorgan Chase & Co. boosted its stake in shares of MVB Financial by 39.9% in the fourth quarter. JPMorgan Chase & Co. now owns 64,244 shares of the company's stock worth $1,330,000 after acquiring an additional 18,318 shares during the period. Prudential Financial Inc. grew its holdings in MVB Financial by 8.4% during the 4th quarter. Prudential Financial Inc. now owns 54,315 shares of the company's stock valued at $1,124,000 after buying an additional 4,200 shares in the last quarter. Finally, Banco Santander S.A. purchased a new position in MVB Financial during the fourth quarter valued at $7,558,000. Hedge funds and other institutional investors own 52.72% of the company's stock.

Insider Buying and Selling at MVB Financial

In other news, insider Michael Louis Giorgio purchased 5,700 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased 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 approximately $132,070.40. This trade represents a 315.96 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought 7,400 shares of company stock worth $129,574 over the last quarter. Insiders own 11.10% of the company's stock.

Analyst Upgrades and Downgrades

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

MVB Financial Price Performance

Shares of NASDAQ MVBF traded up $0.12 during mid-day trading on Friday, hitting $15.84. 24,936 shares of the company's stock traded hands, compared to its average volume of 29,027. 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 company's 50-day moving average is $17.69 and its two-hundred day moving average is $19.42. The company has a market capitalization of $205.13 million, a P/E ratio of 10.35 and a beta of 0.89.

MVB Financial (NASDAQ:MVBF - Get Free Report) last posted 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. The business had revenue of $46.18 million during the quarter, compared to analyst estimates of $33.60 million. MVB Financial had a return on equity of 6.76% and a net margin of 8.78%. On average, equities analysts anticipate that MVB Financial Corp. will post 1.4 EPS for the current fiscal year.

MVB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.29%. The ex-dividend date was Friday, February 28th. 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.