Michael Louis Giorgio Acquires 5,700 Shares of MVB Financial Corp. (NASDAQ:MVBF) Stock

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

MVB Financial Trading Down 2.6 %

Shares of NASDAQ:MVBF traded down $0.46 during midday trading on Thursday, hitting $17.00. 17,717 shares of the stock were exchanged, compared to its average volume of 33,730. The business’s 50-day moving average price is $19.22 and its 200 day moving average price is $20.06. MVB Financial Corp. has a 12 month low of $16.81 and a 12 month high of $25.24. The stock has a market capitalization of $220.00 million, a price-to-earnings ratio of 11.11 and a beta of 1.03. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.94 and a current ratio of 0.94.

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

MVB Financial Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MVBF. Banco Santander S.A. purchased a new position in MVB Financial during the 4th quarter valued at about $7,558,000. TimesSquare Capital Management LLC lifted its position in MVB Financial by 19.3% in the 4th quarter. TimesSquare Capital Management LLC now owns 924,053 shares of the company’s stock worth $19,128,000 after buying an additional 149,464 shares during the last quarter. Kennedy Capital Management LLC bought a new stake in MVB Financial in the 4th quarter worth approximately $769,000. Dimensional Fund Advisors LP lifted its position in MVB Financial by 5.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 388,990 shares of the company’s stock valued at $8,052,000 after purchasing an additional 20,992 shares during the last quarter. Finally, Martingale Asset Management L P bought a new stake in MVB Financial in the third quarter valued at approximately $376,000. Institutional investors own 52.72% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.