Mvb Financial (NASDAQ:MVBF) CFO Purchases $52,000.00 in Stock

by · The Markets Daily

Mvb Financial Corp. (NASDAQ:MVBF – Get Free Report) CFO Michael Robert Sumbs purchased 2,000 shares of Mvb Financial stock in a transaction dated Monday, November 3rd. The stock was acquired at an average cost of $26.00 per share, with a total value of $52,000.00. Following the completion of the acquisition, the chief financial officer directly owned 2,000 shares in the company, valued at approximately $52,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Mvb Financial Price Performance

Shares of MVBF traded up $0.74 during trading hours on Wednesday, reaching $26.74. The company had a trading volume of 45,251 shares, compared to its average volume of 41,705. The firm has a 50 day simple moving average of $25.23 and a 200-day simple moving average of $22.51. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $340.40 million, a price-to-earnings ratio of 10.87 and a beta of 1.09. Mvb Financial Corp. has a 12-month low of $15.59 and a 12-month high of $27.49.

Mvb Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 1st were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Friday, August 29th. Mvb Financial’s dividend payout ratio (DPR) is currently 27.64%.

Analyst Ratings Changes

MVBF has been the subject of several research reports. Keefe, Bruyette & Woods lifted their price objective on Mvb Financial from $23.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, August 4th. TD Cowen initiated coverage on Mvb Financial in a report on Thursday, September 25th. They set a “buy” rating and a $35.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mvb Financial in a report on Wednesday, October 8th. Hovde Group lifted their price objective on Mvb Financial from $27.00 to $31.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Finally, Zacks Research raised Mvb Financial from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Mvb Financial presently has an average rating of “Moderate Buy” and an average target price of $30.25.

View Our Latest Stock Analysis on MVBF

Institutional Investors Weigh In On Mvb Financial

Several hedge funds have recently modified their holdings of the company. CWM LLC boosted its stake in shares of Mvb Financial by 75.8% during the 2nd quarter. CWM LLC now owns 1,208 shares of the company’s stock worth $27,000 after purchasing an additional 521 shares during the last quarter. Empowered Funds LLC increased its stake in Mvb Financial by 9.0% in the first quarter. Empowered Funds LLC now owns 14,144 shares of the company’s stock valued at $245,000 after purchasing an additional 1,165 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Mvb Financial by 200.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,870 shares of the company’s stock valued at $42,000 after purchasing an additional 1,248 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Mvb Financial in the second quarter valued at $32,000. Finally, Versant Capital Management Inc increased its stake in Mvb Financial by 317.6% in the third quarter. Versant Capital Management Inc now owns 2,063 shares of the company’s stock valued at $52,000 after purchasing an additional 1,569 shares during the last quarter. 52.72% of the stock is owned by institutional investors and hedge funds.

Mvb Financial Company Profile

(Get Free Report)

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.

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