Bank of New York Mellon Corp Acquires 18,825 Shares of MVB Financial Corp. (NASDAQ:MVBF)

Bank of New York Mellon Corp boosted its holdings in MVB Financial Corp. (NASDAQ:MVBF) by 29.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,969 shares of the company’s stock after purchasing an additional 18,825 shares during the period. Bank of New York Mellon Corp owned approximately 0.63% of MVB Financial worth $1,697,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in MVB Financial in the fourth quarter worth $111,000. Empowered Funds LLC raised its stake in shares of MVB Financial by 4.5% during the third quarter. Empowered Funds LLC now owns 12,354 shares of the company’s stock valued at $239,000 after acquiring an additional 536 shares during the last quarter. Natixis Advisors LLC bought a new position in shares of MVB Financial during the third quarter valued at about $242,000. Martingale Asset Management L P bought a new position in shares of MVB Financial during the third quarter valued at about $376,000. Finally, Barclays PLC raised its stake in MVB Financial by 99.5% in the third quarter. Barclays PLC now owns 24,436 shares of the company’s stock worth $474,000 after buying an additional 12,190 shares in the last quarter. 52.72% of the stock is owned by institutional investors.

MVB Financial Price Performance

Shares of NASDAQ MVBF opened at $17.34 on Friday. The company has a market capitalization of $224.54 million, a price-to-earnings ratio of 11.33 and a beta of 1.03. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.94 and a current ratio of 0.94. The company has a 50 day simple moving average of $18.91 and a two-hundred day simple moving average of $19.87. MVB Financial Corp. has a fifty-two week low of $16.81 and a fifty-two week high of $25.24.

MVB Financial (NASDAQ:MVBF) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.39. The company had revenue of $46.18 million during the quarter, compared to the consensus estimate of $33.60 million. MVB Financial had a net margin of 8.78% and a return on equity of 6.76%. Analysts expect that MVB Financial Corp. will post 1.4 EPS for the current fiscal year.

MVB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date of this dividend was Friday, February 28th. MVB Financial’s dividend payout ratio (DPR) is presently 44.44%.

Insiders Place Their Bets

In related news, insider Michael Louis Giorgio bought 5,700 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $17.60 per share, with a total value of $100,320.00. Following the transaction, the insider now owns 7,504 shares in the company, valued at approximately $132,070.40. This trade represents a 315.96 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In the last quarter, insiders purchased 7,400 shares of company stock valued at $129,574. Company insiders own 11.10% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods decreased their price target on shares of MVB Financial from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd.

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.