Raymond James Cuts MVB Financial (NASDAQ:MVBF) Price Target to $20.00

MVB Financial (NASDAQ:MVBF - Free Report) had its target price reduced by Raymond James from $24.00 to $20.00 in a research report released on Wednesday morning, MarketBeat Ratings reports. They currently have an outperform rating on the stock.

Separately, Keefe, Bruyette & Woods cut 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.

MVB Financial Price Performance

Shares of NASDAQ MVBF traded down $0.38 during trading on Wednesday, reaching $16.01. The company had a trading volume of 13,645 shares, compared to its average volume of 33,103. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24. MVB Financial has a twelve month low of $15.84 and a twelve month high of $25.24. The stock has a 50-day moving average price of $18.48 and a two-hundred day moving average price of $19.67. The stock has a market capitalization of $207.37 million, a PE ratio of 10.47 and a beta of 0.89.

MVB Financial (NASDAQ:MVBF - Get Free Report) last released its earnings results 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. The company had revenue of $46.18 million for the quarter, compared to analyst estimates of $33.60 million. MVB Financial had a net margin of 8.78% and a return on equity of 6.76%. As a group, sell-side analysts predict that MVB Financial will post 1.4 earnings per share for the current 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 issued a $0.17 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.68 dividend on an annualized basis and a yield of 4.25%. MVB Financial's dividend payout ratio is currently 44.44%.

Insider Transactions at MVB Financial

In other MVB Financial news, insider Michael Louis Giorgio acquired 5,700 shares of the company's stock in a transaction 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 acquisition, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have acquired 7,400 shares of company stock valued at $129,574. 11.10% of the stock is currently owned by insiders.

Institutional Trading of MVB Financial

A number of hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC raised its stake in MVB Financial by 5.1% during the fourth quarter. Empowered Funds LLC now owns 12,979 shares of the company's stock valued at $269,000 after buying an additional 625 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of MVB Financial by 11.6% in the 4th quarter. Two Sigma Advisers LP now owns 13,500 shares of the company's stock valued at $279,000 after acquiring an additional 1,400 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of MVB Financial by 20.3% during the 4th 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 in the last quarter. Northern Trust Corp lifted its stake in MVB Financial by 3.6% during the fourth quarter. Northern Trust Corp now owns 99,258 shares of the company's stock worth $2,055,000 after purchasing an additional 3,409 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in MVB Financial by 8.4% in the fourth quarter. Prudential Financial Inc. now owns 54,315 shares of the company's stock worth $1,124,000 after buying an additional 4,200 shares during the period. Institutional investors and hedge funds own 52.72% of the company's stock.

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.