Assenagon Asset Management S.A. Decreases Position in MVB Financial Corp. (NASDAQ:MVBF)

Assenagon Asset Management S.A. trimmed its position in MVB Financial Corp. (NASDAQ:MVBF) by 27.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,951 shares of the company’s stock after selling 5,307 shares during the period. Assenagon Asset Management S.A. owned about 0.11% of MVB Financial worth $289,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Empowered Funds LLC boosted its position in MVB Financial by 4.5% during the third quarter. Empowered Funds LLC now owns 12,354 shares of the company’s stock worth $239,000 after acquiring an additional 536 shares during the last quarter. 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 last quarter. Sippican Capital Advisors lifted its stake in MVB Financial by 11.4% in the 3rd quarter. Sippican Capital Advisors now owns 23,820 shares of the company’s stock worth $461,000 after purchasing an additional 2,440 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of MVB Financial by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 265,272 shares of the company’s stock worth $5,136,000 after purchasing an additional 6,002 shares during the last quarter. Finally, State Street Corp grew its position in shares of MVB Financial by 2.9% in the third quarter. State Street Corp now owns 225,727 shares of the company’s stock valued at $4,370,000 after purchasing an additional 6,274 shares in the last quarter. 52.72% of the stock is currently owned by hedge funds and other institutional investors.

MVB Financial Stock Up 0.8 %

Shares of NASDAQ MVBF opened at $19.55 on Friday. MVB Financial Corp. has a 1 year low of $17.51 and a 1 year high of $25.24. The company has a market capitalization of $252.98 million, a price-to-earnings ratio of 13.77 and a beta of 1.06. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.94. The business has a 50-day moving average of $20.63 and a two-hundred day moving average of $20.63.

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

MVB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 1st were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.48%. 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 upped their price objective on shares of MVB Financial from $24.00 to $26.00 and gave the company 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.