State Street Corp Purchases 6,274 Shares of MVB Financial Corp. (NASDAQ:MVBF)

State Street Corp grew its stake in MVB Financial Corp. (NASDAQ:MVBF) by 2.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 225,727 shares of the company’s stock after purchasing an additional 6,274 shares during the quarter. State Street Corp owned about 1.74% of MVB Financial worth $4,370,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Martingale Asset Management L P bought a new position in shares of MVB Financial during the 3rd quarter valued at about $376,000. Natixis Advisors LLC bought a new stake in shares of MVB Financial in the third quarter worth $242,000. Empowered Funds LLC boosted its stake in shares of MVB Financial by 4.5% during the 3rd quarter. Empowered Funds LLC now owns 12,354 shares of the company’s stock worth $239,000 after buying an additional 536 shares during the last quarter. Sippican Capital Advisors grew its stake in MVB Financial by 11.4% in the third quarter. Sippican Capital Advisors now owns 23,820 shares of the company’s stock valued at $461,000 after purchasing an additional 2,440 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of MVB Financial by 19.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 19,258 shares of the company’s stock valued at $373,000 after buying an additional 3,077 shares during the last quarter. Institutional investors and hedge funds own 52.72% of the company’s stock.

MVB Financial Stock Down 0.5 %

Shares of NASDAQ MVBF opened at $20.59 on Monday. The company has a market cap of $266.46 million, a price-to-earnings ratio of 14.50 and a beta of 1.08. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24. The stock has a 50-day moving average price of $21.02 and a two-hundred day moving average price of $20.48. MVB Financial Corp. has a 12 month low of $17.51 and a 12 month high of $25.24.

MVB Financial (NASDAQ:MVBF) last posted its earnings results on Wednesday, October 30th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.19). MVB Financial had a return on equity of 6.29% and a net margin of 8.49%. The business had revenue of $53.28 million for the quarter, compared to analyst estimates of $35.90 million. As a group, analysts forecast that MVB Financial Corp. will post 1.08 earnings per share for the current fiscal year.

MVB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 1st were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend was Friday, November 29th. MVB Financial’s dividend payout ratio is currently 47.89%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods boosted their target price on MVB Financial from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th.

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.