MVB Financial Corp. (MVBF) to Issue Quarterly Dividend of $0.17 on December 15th

MVB Financial Corp. (NASDAQ:MVBF) declared a quarterly dividend on Friday, November 22nd,Wall Street Journal reports. Stockholders of record on Sunday, December 1st will be given a dividend of 0.17 per share on Sunday, December 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Friday, November 29th.

MVB Financial has raised its dividend payment by an average of 23.6% annually over the last three years. MVB Financial has a dividend payout ratio of 39.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect MVB Financial to earn $1.70 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 40.0%.

MVB Financial Stock Performance

MVBF stock opened at $22.30 on Friday. The company has a market cap of $288.56 million, a P/E ratio of 15.70 and a beta of 1.05. MVB Financial has a 1 year low of $17.51 and a 1 year high of $25.24. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.94. The stock’s fifty day moving average price is $20.16 and its 200-day moving average price is $19.97.

MVB Financial (NASDAQ:MVBF) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.19). MVB Financial had a return on equity of 6.29% and a net margin of 8.49%. The firm had revenue of $53.28 million during the quarter, compared to analysts’ expectations of $35.90 million. On average, equities analysts forecast that MVB Financial will post 1.08 earnings per share for the current year.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. raised their target price on MVB Financial from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st.

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.