PNC Financial Services Group Inc. Cuts Stake in MVB Financial Corp. (NASDAQ:MVBF)

PNC Financial Services Group Inc. trimmed its position in shares of MVB Financial Corp. (NASDAQ:MVBF) by 37.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 10,102 shares of the company’s stock after selling 6,007 shares during the quarter. PNC Financial Services Group Inc. owned about 0.08% of MVB Financial worth $228,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC boosted its holdings in shares of MVB Financial by 23.9% during the 4th quarter. SG Americas Securities LLC now owns 5,957 shares of the company’s stock valued at $134,000 after acquiring an additional 1,151 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of MVB Financial by 11.7% during the 4th quarter. Cerity Partners LLC now owns 31,216 shares of the company’s stock valued at $704,000 after acquiring an additional 3,282 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of MVB Financial during the 4th quarter valued at about $736,000. Wellington Management Group LLP boosted its holdings in shares of MVB Financial by 3.8% during the 4th quarter. Wellington Management Group LLP now owns 1,353,624 shares of the company’s stock valued at $30,538,000 after acquiring an additional 49,007 shares during the last quarter. Finally, TimesSquare Capital Management LLC boosted its holdings in shares of MVB Financial by 16.9% during the 4th quarter. TimesSquare Capital Management LLC now owns 615,935 shares of the company’s stock valued at $13,895,000 after acquiring an additional 88,975 shares during the last quarter. 52.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MVBF. JPMorgan Chase & Co. dropped their price target on shares of MVB Financial from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Hovde Group downgraded shares of MVB Financial from an “outperform” rating to a “market perform” rating and set a $21.00 price objective on the stock. in a report on Wednesday, May 15th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.25.

MVB Financial Price Performance

NASDAQ MVBF opened at $18.39 on Tuesday. MVB Financial Corp. has a 12 month low of $17.51 and a 12 month high of $27.23. The stock has a market cap of $237.05 million, a price-to-earnings ratio of 9.83 and a beta of 1.05. The company’s 50 day moving average is $18.55 and its two-hundred day moving average is $20.57. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.25.

MVB Financial (NASDAQ:MVBF) last released its earnings results on Monday, April 29th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). MVB Financial had a return on equity of 8.65% and a net margin of 11.10%. The firm had revenue of $57.86 million for the quarter, compared to the consensus estimate of $37.47 million. As a group, research analysts anticipate that MVB Financial Corp. will post 1.68 earnings per share for the current year.

MVB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend was Friday, May 31st. MVB Financial’s payout ratio is 36.36%.

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.