Hsbc Holdings PLC Buys Shares of 17,038 MVB Financial Corp. (NASDAQ:MVBF)

Hsbc Holdings PLC purchased a new position in shares of MVB Financial Corp. (NASDAQ:MVBF) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,038 shares of the company’s stock, valued at approximately $348,000.

Several other institutional investors have also recently made changes to their positions in MVBF. SG Americas Securities LLC bought a new position in shares of MVB Financial during the fourth quarter valued at approximately $111,000. Wells Fargo & Company MN boosted its position in MVB Financial by 20.3% during the 4th quarter. Wells Fargo & Company MN now owns 8,705 shares of the company’s stock valued at $180,000 after acquiring an additional 1,467 shares in the last quarter. Empowered Funds LLC boosted its position in MVB Financial by 5.1% during the 4th quarter. Empowered Funds LLC now owns 12,979 shares of the company’s stock valued at $269,000 after acquiring an additional 625 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of MVB Financial in the 4th quarter valued at $311,000. Finally, Fourthstone LLC bought a new position in shares of MVB Financial in the 4th quarter worth $343,000. Hedge funds and other institutional investors own 52.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MVBF shares. Keefe, Bruyette & Woods lowered their price target on shares of MVB Financial from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Raymond James cut their price target on shares of MVB Financial from $24.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, April 2nd.

Insider Activity at MVB Financial

In related news, insider Michael Louis Giorgio acquired 5,700 shares of MVB Financial stock in a transaction on Wednesday, March 12th. The stock was bought at an average cost of $17.60 per share, for a total transaction of $100,320.00. Following the completion of the transaction, the insider now owns 7,504 shares of the company’s stock, valued at approximately $132,070.40. The trade was a 315.96 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Larry F. Mazza sold 6,962 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $17.49, for a total transaction of $121,765.38. Following the transaction, the chief executive officer now directly owns 626,358 shares in the company, valued at approximately $10,955,001.42. The trade was a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders acquired a total of 7,400 shares of company stock worth $129,574 in the last 90 days. Corporate insiders own 11.66% of the company’s stock.

MVB Financial Stock Up 1.6 %

Shares of MVBF stock opened at $17.94 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24. MVB Financial Corp. has a twelve month low of $15.59 and a twelve month high of $25.24. The stock has a 50 day moving average of $17.00 and a 200 day moving average of $19.19. The stock has a market cap of $232.32 million, a P/E ratio of 11.73 and a beta of 0.92.

MVB Financial (NASDAQ:MVBF) last posted its earnings results on Wednesday, April 30th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.06. The firm had revenue of $33.68 million during the quarter, compared to analysts’ expectations of $34.48 million. MVB Financial had a net margin of 8.78% and a return on equity of 6.76%. As a group, sell-side analysts expect that MVB Financial Corp. will post 1.4 EPS for the current year.

MVB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date was Friday, February 28th. MVB Financial’s dividend payout ratio (DPR) is presently 46.58%.

MVB Financial Profile

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.