Keefe, Bruyette & Woods Increases Mvb Financial (NASDAQ:MVBF) Price Target to $34.00

Mvb Financial (NASDAQ:MVBF) had its price target lifted by research analysts at Keefe, Bruyette & Woods from $32.00 to $34.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 11.02% from the stock’s previous close.

A number of other research firms have also weighed in on MVBF. Raymond James Financial lowered shares of Mvb Financial from an “outperform” rating to a “market perform” rating in a report on Thursday, April 30th. TD Cowen boosted their price target on Mvb Financial from $32.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Zacks Research lowered Mvb Financial from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. Weiss Ratings upgraded Mvb Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 2nd. Finally, Wall Street Zen upgraded Mvb Financial from a “sell” rating to a “hold” rating in a research report on Monday, June 1st. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $32.75.

Mvb Financial Price Performance

Shares of Mvb Financial stock opened at $30.63 on Thursday. The firm has a market capitalization of $393.54 million, a PE ratio of 10.35 and a beta of 0.80. 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 has a 12 month low of $22.85 and a 12 month high of $31.99. The business’s 50-day moving average price is $28.63 and its 200-day moving average price is $27.25.

Mvb Financial (NASDAQ:MVBF) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.59. Mvb Financial had a net margin of 17.53% and a return on equity of 2.89%. The business had revenue of $50.73 million during the quarter, compared to analyst estimates of $36.94 million. Sell-side analysts forecast that Mvb Financial will post 1.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its position in shares of Mvb Financial by 56.5% in the third quarter. Wellington Management Group LLP now owns 1,782,385 shares of the company’s stock worth $44,667,000 after purchasing an additional 643,551 shares during the period. Dimensional Fund Advisors LP boosted its stake in Mvb Financial by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 506,608 shares of the company’s stock worth $12,580,000 after purchasing an additional 19,650 shares during the period. Geode Capital Management LLC boosted 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. Ameriprise Financial Inc. bought a new stake in Mvb Financial in the 3rd quarter valued at $4,716,000. Finally, Kennedy Capital Management LLC purchased a new stake in Mvb Financial in the 4th quarter worth $3,118,000. 52.72% of the stock is owned by hedge funds and other institutional investors.

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.