JPMorgan Chase & Co. Cuts MVB Financial (NASDAQ:MVBF) Price Target to $25.00

MVB Financial (NASDAQ:MVBF) had its price objective decreased by JPMorgan Chase & Co. from $28.00 to $25.00 in a research note issued to investors on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Separately, Keefe, Bruyette & Woods dropped their price target on shares of MVB Financial from $26.00 to $25.00 and set an outperform rating on the stock in a research report on Friday, March 1st.

MVB Financial Price Performance

MVB Financial stock opened at $18.39 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market capitalization of $236.13 million, a price-to-earnings ratio of 9.83 and a beta of 1.04. The stock’s 50 day moving average price is $20.70 and its two-hundred day moving average price is $21.17. MVB Financial has a 52-week low of $16.43 and a 52-week high of $27.23.

MVB Financial (NASDAQ:MVBF) last released its quarterly earnings data on Monday, April 29th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). MVB Financial had a return on equity of 8.76% and a net margin of 11.10%. The company had revenue of $57.86 million for the quarter, compared to the consensus estimate of $37.47 million. On average, equities analysts predict that MVB Financial will post 1.81 earnings per share for the current year.

MVB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.68 dividend on an annualized basis and a yield of 3.70%. MVB Financial’s payout ratio is 36.36%.

Hedge Funds Weigh In On MVB Financial

Several hedge funds have recently made changes to their positions in MVBF. BNP Paribas Financial Markets boosted its stake in MVB Financial by 515.9% in the 1st quarter. BNP Paribas Financial Markets now owns 20,195 shares of the company’s stock worth $451,000 after purchasing an additional 16,916 shares during the period. Quadrature Capital Ltd purchased a new position in MVB Financial during the fourth quarter valued at approximately $231,000. Wellington Management Group LLP grew its stake in MVB Financial by 3.8% during the fourth quarter. Wellington Management Group LLP now owns 1,353,624 shares of the company’s stock valued at $30,538,000 after acquiring an additional 49,007 shares in the last quarter. TimesSquare Capital Management LLC increased its stake in MVB Financial by 16.9% in the 4th quarter. TimesSquare Capital Management LLC now owns 615,935 shares of the company’s stock worth $13,895,000 after acquiring an additional 88,975 shares during the last quarter. Finally, Cerity Partners LLC increased its holdings in shares of MVB Financial by 11.7% in the 4th quarter. Cerity Partners LLC now owns 31,216 shares of the company’s stock worth $704,000 after buying an additional 3,282 shares during the last quarter. 52.72% of the stock is currently owned by hedge funds and other institutional investors.

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.