MVB Financial Corp. (NASDAQ:MVBF) Shares Purchased by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC raised its stake in MVB Financial Corp. (NASDAQ:MVBF) by 16.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 615,935 shares of the company’s stock after buying an additional 88,975 shares during the quarter. TimesSquare Capital Management LLC owned about 4.83% of MVB Financial worth $13,895,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Wellington Management Group LLP boosted its position in shares of MVB Financial by 4.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,304,617 shares of the company’s stock worth $29,458,000 after purchasing an additional 51,342 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of MVB Financial during the fourth quarter worth $736,000. SG Americas Securities LLC grew its stake in shares of MVB Financial by 23.9% in the fourth quarter. SG Americas Securities LLC now owns 5,957 shares of the company’s stock valued at $134,000 after buying an additional 1,151 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of MVB Financial by 101.0% in the 3rd quarter. New York State Common Retirement Fund now owns 4,795 shares of the company’s stock valued at $108,000 after buying an additional 2,409 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in MVB Financial by 4.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 84,867 shares of the company’s stock worth $1,916,000 after acquiring an additional 3,261 shares in the last quarter. Hedge funds and other institutional investors own 52.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MVBF. Hovde Group dropped their target price on MVB Financial from $27.00 to $23.00 and set an “outperform” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of MVB Financial from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Finally, Keefe, Bruyette & Woods reduced their target price on shares of MVB Financial from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $25.75.

MVB Financial Stock Down 0.1 %

Shares of MVB Financial stock traded down $0.02 on Friday, reaching $18.84. 248 shares of the company were exchanged, compared to its average volume of 28,192. The stock’s 50 day moving average price is $20.39 and its 200-day moving average price is $21.04. The company has a market cap of $241.91 million, a P/E ratio of 10.09 and a beta of 1.04. MVB Financial Corp. has a 1-year low of $16.50 and a 1-year high of $27.23. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.94.

MVB Financial (NASDAQ:MVBF) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). The firm had revenue of $57.86 million during the quarter, compared to analysts’ expectations of $37.47 million. MVB Financial had a net margin of 11.10% and a return on equity of 8.76%. As a group, equities analysts forecast that MVB Financial Corp. will post 1.64 EPS for the current year.

MVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Thursday, February 29th. MVB Financial’s dividend payout ratio (DPR) is 36.36%.

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.