MVB Financial Corp. (NASDAQ:MVBF) Insider Purchases $100,320.00 in Stock

MVB Financial Corp. (NASDAQ:MVBF) insider Michael Louis Giorgio purchased 5,700 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were bought at an average price of $17.60 per share, for a total transaction of $100,320.00. Following the purchase, the insider now directly owns 7,504 shares in the company, valued at $132,070.40. This represents a 315.96 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

MVB Financial Stock Down 2.6 %

Shares of MVB Financial stock opened at $17.00 on Friday. The firm has a fifty day moving average of $19.16 and a two-hundred day moving average of $20.04. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market cap of $220.00 million, a P/E ratio of 11.11 and a beta of 1.03. MVB Financial Corp. has a one year low of $16.81 and a one year high of $25.24.

MVB Financial (NASDAQ:MVBF) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.39. MVB Financial had a net margin of 8.78% and a return on equity of 6.76%. The firm had revenue of $46.18 million for the quarter, compared to analysts’ expectations of $33.60 million. On average, analysts forecast that MVB Financial Corp. will post 1.4 earnings per share for the current year.

MVB Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be paid a dividend of $0.17 per share. The ex-dividend date is Friday, February 28th. This represents a $0.68 annualized dividend and a yield of 4.00%. MVB Financial’s dividend payout ratio is 44.44%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods cut their target price on shares of MVB Financial from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, March 3rd.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MVBF. Empowered Funds LLC increased its position in shares of MVB Financial by 4.5% during the third quarter. Empowered Funds LLC now owns 12,354 shares of the company’s stock worth $239,000 after acquiring an additional 536 shares in the last quarter. Natixis Advisors LLC bought a new stake in shares of MVB Financial during the third quarter worth about $242,000. Martingale Asset Management L P bought a new position in MVB Financial during the 3rd quarter worth approximately $376,000. State Street Corp increased its stake in MVB Financial by 2.9% in the third quarter. State Street Corp now owns 225,727 shares of the company’s stock valued at $4,370,000 after purchasing an additional 6,274 shares in the last quarter. Finally, Barclays PLC grew its position in MVB Financial by 99.5% in the 3rd quarter. Barclays PLC now owns 24,436 shares of the company’s stock valued at $474,000 after purchasing an additional 12,190 shares during the period. 52.72% of the stock is owned by 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.