MVB Financial Corp. (NASDAQ:MVBF) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in shares of MVB Financial Corp. (NASDAQ:MVBF) by 2.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 265,272 shares of the company’s stock after buying an additional 6,002 shares during the period. Geode Capital Management LLC owned about 2.05% of MVB Financial worth $5,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in MVBF. Acadian Asset Management LLC lifted its holdings in MVB Financial by 20.0% during the second quarter. Acadian Asset Management LLC now owns 9,764 shares of the company’s stock valued at $181,000 after purchasing an additional 1,629 shares in the last quarter. Empowered Funds LLC raised its position 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 purchasing an additional 536 shares during the last quarter. Natixis Advisors LLC purchased a new position in MVB Financial in the 3rd quarter valued at about $242,000. Squarepoint Ops LLC boosted its holdings in MVB Financial by 75.2% in the 2nd quarter. Squarepoint Ops LLC now owns 16,748 shares of the company’s stock worth $312,000 after buying an additional 7,191 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in MVB Financial by 3.2% during the 2nd quarter. Rhumbline Advisers now owns 17,888 shares of the company’s stock worth $333,000 after buying an additional 549 shares in the last quarter. Institutional investors and hedge funds own 52.72% of the company’s stock.

MVB Financial Stock Performance

NASDAQ:MVBF opened at $20.42 on Friday. MVB Financial Corp. has a twelve month low of $17.51 and a twelve month high of $25.24. The company has a market cap of $264.26 million, a P/E ratio of 14.38 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 company’s 50-day moving average price is $21.09 and its 200-day moving average price is $20.53.

MVB Financial (NASDAQ:MVBF) last released its earnings results on Wednesday, October 30th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $35.90 million. On average, sell-side 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 announced a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.33%. The ex-dividend date was Friday, November 29th. MVB Financial’s payout ratio is currently 47.89%.

Wall Street Analyst Weigh In

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

MVB Financial 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.