MVB Financial (NASDAQ:MVBF) Price Target Raised to $26.00 at Keefe, Bruyette & Woods

MVB Financial (NASDAQ:MVBF) had its price target lifted by Keefe, Bruyette & Woods from $24.00 to $26.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 21.10% from the company’s previous close.

MVB Financial Trading Up 1.5 %

Shares of MVBF traded up $0.32 during trading hours on Wednesday, reaching $21.47. The stock had a trading volume of 20,316 shares, compared to its average volume of 26,960. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.24. MVB Financial has a 52 week low of $17.51 and a 52 week high of $25.24. The firm has a 50-day moving average of $20.36 and a 200 day moving average of $20.13. The company has a market cap of $277.82 million, a P/E ratio of 15.12 and a beta of 1.08.

MVB Financial (NASDAQ:MVBF) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.19). The firm had revenue of $53.28 million during the quarter, compared to the consensus estimate of $35.90 million. MVB Financial had a net margin of 8.49% and a return on equity of 6.29%. On average, sell-side analysts expect that MVB Financial will post 1.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MVB Financial

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of MVB Financial by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 558,946 shares of the company’s stock valued at $12,470,000 after purchasing an additional 29,237 shares during the period. Boston Partners raised its holdings in MVB Financial by 11.5% in the 1st quarter. Boston Partners now owns 17,447 shares of the company’s stock valued at $389,000 after acquiring an additional 1,793 shares during the period. Bank of New York Mellon Corp raised its holdings in MVB Financial by 25.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 70,492 shares of the company’s stock valued at $1,314,000 after acquiring an additional 14,176 shares during the period. Rhumbline Advisers raised its holdings in MVB Financial by 3.2% in the 2nd quarter. Rhumbline Advisers now owns 17,888 shares of the company’s stock valued at $333,000 after acquiring an additional 549 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in MVB Financial by 20.0% in the 2nd quarter. Acadian Asset Management LLC now owns 9,764 shares of the company’s stock valued at $181,000 after acquiring an additional 1,629 shares during the period. 52.72% of the stock is currently owned by institutional investors and hedge funds.

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.