MVB Financial (NASDAQ:MVBF) Price Target Increased to $29.00 by Analysts at JPMorgan Chase & Co.

MVB Financial (NASDAQ:MVBF) had its price objective lifted by JPMorgan Chase & Co. from $25.00 to $29.00 in a research report released on Wednesday, Benzinga reports. The firm currently has an overweight rating on the stock.

Separately, Hovde Group downgraded MVB Financial from an outperform rating to a market perform rating and set a $21.00 target price for the company. in a research report on Wednesday, May 15th.

MVB Financial Price Performance

Shares of MVBF stock opened at $22.97 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.25. MVB Financial has a twelve month low of $17.51 and a twelve month high of $27.23. The company has a market cap of $296.08 million, a P/E ratio of 12.28 and a beta of 1.05. The business has a fifty day simple moving average of $19.75 and a 200 day simple moving average of $20.42.

MVB Financial (NASDAQ:MVBF) last announced its quarterly earnings data on Monday, July 29th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.09). MVB Financial had a return on equity of 7.16% and a net margin of 9.28%. The business had revenue of $53.27 million for the quarter, compared to the consensus estimate of $38.20 million. On average, sell-side analysts forecast that MVB Financial will post 1.65 EPS for the current fiscal year.

MVB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.68 annualized dividend and a dividend yield of 2.96%. MVB Financial’s payout ratio is 36.36%.

Institutional Investors Weigh In On MVB Financial

Several large investors have recently added to or reduced their stakes in MVBF. EntryPoint Capital LLC bought a new position in shares of MVB Financial in the first quarter valued at approximately $107,000. SG Americas Securities LLC lifted its holdings in shares of MVB Financial by 23.9% in the fourth quarter. SG Americas Securities LLC now owns 5,957 shares of the company’s stock valued at $134,000 after purchasing an additional 1,151 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of MVB Financial in the first quarter valued at approximately $180,000. Quadrature Capital Ltd bought a new position in shares of MVB Financial in the fourth quarter valued at approximately $231,000. Finally, Empowered Funds LLC bought a new position in shares of MVB Financial in the first quarter valued at approximately $248,000. Institutional investors and hedge funds own 52.72% of the company’s stock.

About MVB Financial

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.