MVB Financial Corp. (NASDAQ:MVBF) Short Interest Down 21.4% in September

by · The Cerbat Gem

MVB Financial Corp. (NASDAQ:MVBF – Get Free Report) saw a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 52,600 shares, a decline of 21.4% from the September 15th total of 66,900 shares. Based on an average daily volume of 26,500 shares, the short-interest ratio is presently 2.0 days.

MVB Financial Trading Up 1.3 %

Shares of NASDAQ MVBF traded up $0.26 during trading hours on Monday, hitting $19.63. The company’s stock had a trading volume of 22,655 shares, compared to its average volume of 26,535. MVB Financial has a 12 month low of $17.51 and a 12 month high of $25.24. The stock has a market cap of $252.95 million, a price-to-earnings ratio of 10.50 and a beta of 1.05. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.94 and a current ratio of 0.94. The business has a 50-day simple moving average of $19.97 and a 200-day simple moving average of $19.83.

MVB Financial (NASDAQ:MVBF – Get Free Report) last announced its quarterly earnings data on Monday, July 29th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.09). MVB Financial had a net margin of 9.28% and a return on equity of 7.08%. The firm had revenue of $53.27 million for the quarter, compared to analysts’ expectations of $38.20 million. On average, analysts anticipate that MVB Financial will post 1.38 earnings per share for the current fiscal year.

MVB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were issued a $0.17 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.68 annualized dividend and a yield of 3.46%. MVB Financial’s payout ratio is 36.36%.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. upped their target price on MVB Financial from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st.

Read Our Latest Analysis on MVBF

Institutional Investors Weigh In On MVB Financial

A number of hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its position in shares of MVB Financial by 3.8% in the fourth quarter. Wellington Management Group LLP now owns 1,353,624 shares of the company’s stock worth $30,538,000 after purchasing an additional 49,007 shares during the period. Quadrature Capital Ltd bought a new position in MVB Financial in the 4th quarter worth $231,000. BNP Paribas Financial Markets raised its holdings in MVB Financial by 515.9% during the first quarter. BNP Paribas Financial Markets now owns 20,195 shares of the company’s stock valued at $451,000 after acquiring an additional 16,916 shares during the period. Sippican Capital Advisors purchased a new position in shares of MVB Financial in the first quarter valued at about $308,000. Finally, Empowered Funds LLC bought a new position in shares of MVB Financial in the first quarter worth about $248,000. 52.72% of the stock is currently owned by hedge funds and other institutional investors.

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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