Sippican Capital Advisors Has $461,000 Stock Position in MVB Financial Corp. (NASDAQ:MVBF)

Sippican Capital Advisors lifted its stake in MVB Financial Corp. (NASDAQ:MVBFFree Report) by 11.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,820 shares of the company’s stock after acquiring an additional 2,440 shares during the period. Sippican Capital Advisors’ holdings in MVB Financial were worth $461,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. TimesSquare Capital Management LLC boosted its stake in MVB Financial by 53.5% during the first quarter. TimesSquare Capital Management LLC now owns 945,290 shares of the company’s stock worth $21,089,000 after buying an additional 329,355 shares in the last quarter. Vanguard Group Inc. boosted its stake in MVB Financial by 5.5% during the first quarter. Vanguard Group Inc. now owns 558,946 shares of the company’s stock worth $12,470,000 after buying an additional 29,237 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in MVB Financial by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 343,623 shares of the company’s stock worth $6,405,000 after buying an additional 18,649 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in MVB Financial by 8.0% during the first quarter. Russell Investments Group Ltd. now owns 80,552 shares of the company’s stock worth $1,797,000 after buying an additional 5,973 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in MVB Financial by 25.2% during the second quarter. Bank of New York Mellon Corp now owns 70,492 shares of the company’s stock worth $1,314,000 after buying an additional 14,176 shares in the last quarter. Institutional investors and hedge funds own 52.72% of the company’s stock.

Analysts Set New Price Targets

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

Get Our Latest Stock Report on MVBF

MVB Financial Price Performance

Shares of MVB Financial stock traded down $1.40 during trading on Thursday, reaching $19.11. The company’s stock had a trading volume of 1,258 shares, compared to its average volume of 26,540. The stock has a 50-day moving average price of $19.94 and a two-hundred day moving average price of $19.76. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.25. MVB Financial Corp. has a one year low of $17.51 and a one year high of $25.24. The stock has a market capitalization of $247.05 million, a P/E ratio of 13.23 and a beta of 1.05.

MVB Financial (NASDAQ:MVBFGet Free Report) last released its quarterly earnings results on Monday, July 29th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.09). The business had revenue of $53.27 million during the quarter, compared to the consensus estimate of $38.20 million. MVB Financial had a net margin of 9.28% and a return on equity of 7.08%. As a group, sell-side analysts anticipate that MVB Financial Corp. will post 1.38 EPS for the current fiscal year.

MVB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.68 annualized dividend and a yield of 3.56%. MVB Financial’s dividend payout ratio is currently 43.87%.

MVB Financial Profile

(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.

See Also

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Institutional Ownership by Quarter for MVB Financial (NASDAQ:MVBF)

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