Michael Louis Giorgio Acquires 5,700 Shares of MVB Financial Corp. (NASDAQ:MVBF) Stock

MVB Financial Corp. (NASDAQ:MVBF - Get Free Report) insider Michael Louis Giorgio bought 5,700 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average cost of $17.60 per share, for a total transaction of $100,320.00. Following the transaction, the insider now directly owns 7,504 shares of the company's stock, valued at $132,070.40. This trade represents a 315.96 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

MVB Financial Stock Performance

Shares of NASDAQ MVBF traded up $0.37 during trading hours on Monday, reaching $17.37. The stock had a trading volume of 54,421 shares, compared to its average volume of 26,981. The company has a market cap of $224.79 million, a price-to-earnings ratio of 11.35 and a beta of 1.03. MVB Financial Corp. has a twelve month low of $16.81 and a twelve month high of $25.24. The business's fifty day moving average is $19.09 and its two-hundred day moving average is $19.99. 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 (NASDAQ:MVBF - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.39. MVB Financial had a net margin of 8.78% and a return on equity of 6.76%. The company had revenue of $46.18 million during the quarter, compared to analysts' expectations of $33.60 million. As a group, research analysts expect that MVB Financial Corp. will post 1.4 EPS for the current year.

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MVB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were paid a $0.17 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.68 annualized dividend and a dividend yield of 3.91%. MVB Financial's dividend payout ratio is currently 44.44%.

Analyst Ratings Changes

Separately, 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.

Hedge Funds Weigh In On MVB Financial

A number of hedge funds have recently modified their holdings of MVBF. SG Americas Securities LLC bought a new stake in MVB Financial in the fourth quarter valued at $111,000. Wells Fargo & Company MN boosted its stake in shares of MVB Financial by 20.3% in the 4th 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 in the last quarter. Empowered Funds LLC grew its holdings in shares of MVB Financial by 4.5% in the 3rd quarter. Empowered Funds LLC now owns 12,354 shares of the company's stock worth $239,000 after purchasing an additional 536 shares during the last quarter. Natixis Advisors LLC bought a new position in MVB Financial during the 3rd quarter valued at about $242,000. Finally, Deutsche Bank AG acquired a new position in MVB Financial in the fourth quarter valued at about $272,000. 52.72% of the stock is owned by institutional investors and hedge funds.

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.