MVB Financial (NASDAQ:MVBF) Price Target Cut to $20.00 by Analysts at Raymond James

MVB Financial (NASDAQ:MVBF) had its price target cut by research analysts at Raymond James from $24.00 to $20.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price objective points to a potential upside of 17.02% from the stock’s current price.

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

MVB Financial Trading Down 0.9 %

NASDAQ:MVBF traded down $0.16 on Wednesday, reaching $17.09. 3,750 shares of the stock traded hands, compared to its average volume of 28,228. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24. MVB Financial has a 1-year low of $16.81 and a 1-year high of $25.24. The company’s 50 day moving average is $18.65 and its 200-day moving average is $19.76. The firm has a market capitalization of $221.31 million, a price-to-earnings ratio of 11.19 and a beta of 1.03.

MVB Financial (NASDAQ:MVBF) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.72 earnings per share for the quarter, topping 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 company had revenue of $46.18 million during the quarter, compared to analysts’ expectations of $33.60 million. Equities research analysts anticipate that MVB Financial will post 1.4 EPS for the current fiscal year.

Insider Activity

In other news, insider Michael Louis Giorgio bought 5,700 shares of the stock in a transaction dated Wednesday, March 12th. The shares were bought at an average cost of $17.60 per share, with a total value of $100,320.00. Following the completion of the transaction, the insider now directly owns 7,504 shares of the company’s stock, valued at $132,070.40. This trade represents a 315.96 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have purchased 7,400 shares of company stock worth $129,574. Company insiders own 11.10% of the company’s stock.

Institutional Trading of MVB Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of MVBF. Empowered Funds LLC increased its position in shares of MVB Financial by 5.1% during the fourth quarter. Empowered Funds LLC now owns 12,979 shares of the company’s stock worth $269,000 after acquiring an additional 625 shares in the last quarter. Two Sigma Advisers LP raised its stake in shares of MVB Financial by 11.6% in the fourth quarter. Two Sigma Advisers LP now owns 13,500 shares of the company’s stock worth $279,000 after purchasing an additional 1,400 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of MVB Financial by 20.3% in the fourth quarter. Wells Fargo & Company MN now owns 8,705 shares of the company’s stock valued at $180,000 after purchasing an additional 1,467 shares in the last quarter. Northern Trust Corp boosted its position in shares of MVB Financial by 3.6% during the fourth quarter. Northern Trust Corp now owns 99,258 shares of the company’s stock valued at $2,055,000 after buying an additional 3,409 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of MVB Financial by 8.4% during the fourth quarter. Prudential Financial Inc. now owns 54,315 shares of the company’s stock valued at $1,124,000 after buying an additional 4,200 shares during the last quarter. Institutional investors own 52.72% of the company’s stock.

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.