Mvb Financial (NASDAQ:MVBF) Price Target Raised to $30.00

Mvb Financial (NASDAQ:MVBF) had its price target upped by Keefe, Bruyette & Woods from $25.00 to $30.00 in a report released on Monday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Other analysts have also issued reports about the stock. Wall Street Zen raised shares of Mvb Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. TD Cowen assumed coverage on shares of Mvb Financial in a research note on Thursday, September 25th. They set a “buy” rating and a $35.00 price objective on the stock. Zacks Research downgraded shares of Mvb Financial from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. Raymond James Financial set a $30.00 price objective on Mvb Financial and gave the company an “outperform” rating in a research report on Tuesday, October 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Mvb Financial in a report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.50.

Mvb Financial Price Performance

NASDAQ:MVBF opened at $26.45 on Monday. Mvb Financial has a 52-week low of $15.59 and a 52-week high of $27.49. The company has a market cap of $332.85 million, a P/E ratio of 10.75 and a beta of 1.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.96 and a current ratio of 0.96. The stock’s 50-day simple moving average is $25.53 and its 200 day simple moving average is $22.89.

Mvb Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 1st were paid a $0.17 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.68 annualized dividend and a yield of 2.6%. Mvb Financial’s payout ratio is 27.64%.

Insiders Place Their Bets

In other news, CFO Michael Robert Sumbs acquired 2,000 shares of the stock in a transaction on Monday, November 3rd. The shares were purchased at an average price of $26.00 per share, for a total transaction of $52,000.00. Following the transaction, the chief financial officer directly owned 2,000 shares of the company’s stock, valued at approximately $52,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 11.66% of the stock is owned by insiders.

Hedge Funds Weigh In On Mvb Financial

A number of hedge funds have recently bought and sold shares of the business. CWM LLC raised its stake in Mvb Financial by 75.8% in the 2nd quarter. CWM LLC now owns 1,208 shares of the company’s stock worth $27,000 after purchasing an additional 521 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Mvb Financial by 9.0% during the first quarter. Empowered Funds LLC now owns 14,144 shares of the company’s stock worth $245,000 after purchasing an additional 1,165 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Mvb Financial by 200.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,870 shares of the company’s stock valued at $42,000 after buying an additional 1,248 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Mvb Financial in the second quarter valued at approximately $32,000. Finally, Versant Capital Management Inc boosted its stake in shares of Mvb Financial by 317.6% in the third quarter. Versant Capital Management Inc now owns 2,063 shares of the company’s stock valued at $52,000 after buying an additional 1,569 shares during the period. 52.72% of the stock is owned by institutional investors.

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.