Empowered Funds LLC Makes New Investment in Mvb Financial Corp. $MVBF

Empowered Funds LLC purchased a new stake in Mvb Financial Corp. (NASDAQ:MVBF) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 40,816 shares of the company’s stock, valued at approximately $1,184,000.

Several other large investors also recently made changes to their positions in MVBF. Russell Investments Group Ltd. raised its stake in shares of Mvb Financial by 2,673.2% during the third quarter. Russell Investments Group Ltd. now owns 1,137 shares of the company’s stock valued at $28,000 after purchasing an additional 1,096 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of Mvb Financial in the second quarter valued at $35,000. Raymond James Financial Inc. acquired a new stake in shares of Mvb Financial in the second quarter worth $32,000. Public Employees Retirement System of Ohio purchased a new position in shares of Mvb Financial during the second quarter valued at $48,000. Finally, Tower Research Capital LLC TRC raised its position in Mvb Financial by 200.6% during 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 during the period. Institutional investors and hedge funds own 52.72% of the company’s stock.

Mvb Financial Stock Up 1.0%

Mvb Financial stock opened at $31.23 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16. Mvb Financial Corp. has a 1-year low of $23.58 and a 1-year high of $31.99. The firm’s fifty day simple moving average is $29.86 and its 200-day simple moving average is $27.59. The company has a market capitalization of $405.05 million, a P/E ratio of 10.55 and a beta of 0.81.

Mvb Financial (NASDAQ:MVBF) last posted its earnings results on Tuesday, July 28th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.34 by $0.59. The firm had revenue of $50.73 million for the quarter, compared to the consensus estimate of $36.94 million. Mvb Financial had a net margin of 17.53% and a return on equity of 2.86%. Sell-side analysts forecast that Mvb Financial Corp. will post 1.63 earnings per share for the current fiscal year.

Mvb Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.2%. Mvb Financial’s dividend payout ratio is currently 22.97%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MVBF. Zacks Research downgraded Mvb Financial from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. Keefe, Bruyette & Woods raised their price target on shares of Mvb Financial from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. TD Cowen upped their price objective 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. 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. Finally, Wall Street Zen upgraded shares of Mvb Financial from a “sell” rating to a “hold” rating in a report on Monday, June 1st. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Mvb Financial presently has a consensus rating of “Moderate Buy” and an average price target of $32.75.

Mvb Financial Company 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.