Zacks Research Upgrades Mvb Financial (NASDAQ:MVBF) to Hold

by · The Markets Daily

Mvb Financial (NASDAQ:MVBF – Get Free Report) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday, Zacks reports.

Several other brokerages also recently weighed in on MVBF. TD Cowen upped their target price on shares of Mvb Financial from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods upped their price objective on shares of Mvb Financial from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Weiss Ratings upgraded Mvb Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, July 2nd. Finally, Wall Street Zen raised Mvb Financial from a “sell” rating to a “hold” rating in a report on Monday, June 1st. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Mvb Financial has an average rating of “Moderate Buy” and an average price target of $32.75.

Read Our Latest Research Report on MVBF

Mvb Financial Trading Down 2.0%

Shares of MVBF opened at $30.59 on Monday. The stock’s 50-day moving average is $29.93 and its two-hundred day moving average is $27.63. The stock has a market cap of $396.69 million, a PE ratio of 10.33 and a beta of 0.81. Mvb Financial has a 12 month low of $23.58 and a 12 month high of $31.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.92 and a quick ratio of 0.92.

Mvb Financial (NASDAQ:MVBF – Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.59. The company had revenue of $50.73 million during the quarter, compared to the consensus estimate of $36.94 million. Mvb Financial had a return on equity of 2.86% and a net margin of 17.53%. Equities analysts forecast that Mvb Financial will post 1.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mvb Financial

Several hedge funds and other institutional investors have recently modified their holdings of MVBF. BlackRock Inc. bought a new position in shares of Mvb Financial during the second quarter worth about $30,152,000. Basswood Capital Management L.L.C. bought a new stake in Mvb Financial in the second quarter valued at about $7,477,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Mvb Financial during the second quarter valued at approximately $3,253,000. Empowered Funds LLC bought a new position in Mvb Financial during the 2nd quarter worth approximately $1,184,000. Finally, Pure Financial Advisors LLC bought a new position in Mvb Financial during the 2nd quarter worth approximately $2,461,000. Institutional investors own 52.72% of the company’s stock.

About Mvb Financial

(Get Free Report)

MVB Financial Corp is a bank holding company based in Fairmont, West Virginia, serving individuals and businesses through its subsidiary, MVB Bank, Inc The company operates under a “Local First Banking” philosophy, emphasizing personalized service across its branch network. Its core business activities include deposit-taking, commercial lending, residential mortgage origination, and wealth management services.

On the deposit side, MVB Bank offers a range of products such as checking and savings accounts, money market accounts, and certificates of deposit.

Featured Articles