Basswood Capital Management L.L.C. Takes $7.48 Million Position in Mvb Financial Corp. $MVBF

Basswood Capital Management L.L.C. purchased a new stake in Mvb Financial Corp. (NASDAQ:MVBF) in the second quarter, HoldingsChannel reports. The firm purchased 257,731 shares of the company’s stock, valued at approximately $7,477,000.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in Mvb Financial by 56.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,782,385 shares of the company’s stock worth $44,667,000 after buying an additional 643,551 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Mvb Financial in the 2nd quarter valued at $30,152,000. Dimensional Fund Advisors LP raised its position in shares of Mvb Financial by 4.0% during the first quarter. Dimensional Fund Advisors LP now owns 506,608 shares of the company’s stock worth $12,580,000 after acquiring an additional 19,650 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Mvb Financial by 0.8% during the second quarter. Geode Capital Management LLC now owns 277,417 shares of the company’s stock worth $6,252,000 after acquiring an additional 2,160 shares during the last quarter. Finally, Ameriprise Financial Inc. acquired a new position in shares of Mvb Financial during the third quarter valued at $4,716,000. Institutional investors own 52.72% of the company’s stock.

Wall Street Analysts Forecast Growth

MVBF has been the topic of several recent research reports. Keefe, Bruyette & Woods raised their price target on Mvb Financial from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Raymond James Financial cut Mvb Financial from an “outperform” rating to a “market perform” rating in a report on Thursday, April 30th. Zacks Research downgraded shares of Mvb Financial from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. TD Cowen raised their target price on shares of Mvb Financial from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Finally, Weiss Ratings upgraded shares of Mvb Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 2nd. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.75.

Mvb Financial Stock Down 0.6%

NASDAQ:MVBF opened at $29.95 on Thursday. Mvb Financial Corp. has a 12-month low of $23.58 and a 12-month high of $31.99. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $388.45 million, a P/E ratio of 10.12 and a beta of 0.80. The stock’s fifty day simple moving average is $29.52 and its 200-day simple moving average is $27.47.

Mvb Financial (NASDAQ:MVBF) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.59. The business had revenue of $50.73 million during the quarter, compared to analysts’ expectations of $36.94 million. Mvb Financial had a return on equity of 2.86% and a net margin of 17.53%. Equities research analysts expect that Mvb Financial Corp. will post 1.63 earnings per share for the current year.

Mvb Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 1st. Mvb Financial’s payout ratio is presently 22.97%.

Mvb Financial Profile

MVB Financial Corp is a bank holding company based in Fairmont, West Virginia, serving individuals and businesses through its subsidiary, MVB Bank, Inc The company operates under a “Local First Banking” philosophy, emphasizing personalized service across its branch network. Its core business activities include deposit-taking, commercial lending, residential mortgage origination, and wealth management services.

On the deposit side, MVB Bank offers a range of products such as checking and savings accounts, money market accounts, and certificates of deposit.