Wells Fargo & Company MN Buys 1,467 Shares of MVB Financial Corp. (NASDAQ:MVBF)

Wells Fargo & Company MN raised its stake in MVB Financial Corp. (NASDAQ:MVBF) by 20.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,705 shares of the company’s stock after purchasing an additional 1,467 shares during the quarter. Wells Fargo & Company MN’s holdings in MVB Financial were worth $180,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Trexquant Investment LP bought a new stake in MVB Financial during the 4th quarter valued at $311,000. JPMorgan Chase & Co. grew its stake in shares of MVB Financial by 39.9% in the fourth quarter. JPMorgan Chase & Co. now owns 64,244 shares of the company’s stock worth $1,330,000 after purchasing an additional 18,318 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of MVB Financial by 8.4% in the fourth quarter. Prudential Financial Inc. now owns 54,315 shares of the company’s stock worth $1,124,000 after purchasing an additional 4,200 shares during the last quarter. Banco Santander S.A. purchased a new stake in MVB Financial in the 4th quarter worth approximately $7,558,000. Finally, Bank of New York Mellon Corp grew its position in shares of MVB Financial by 29.8% in the 4th quarter. Bank of New York Mellon Corp now owns 81,969 shares of the company’s stock worth $1,697,000 after buying an additional 18,825 shares during the last quarter. Hedge funds and other institutional investors own 52.72% of the company’s stock.

MVB Financial Stock Performance

NASDAQ MVBF opened at $17.94 on Friday. MVB Financial Corp. has a 12 month low of $15.59 and a 12 month high of $25.24. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24. The stock’s fifty day moving average price is $17.00 and its 200-day moving average price is $19.18. 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 issued its earnings results on Wednesday, April 30th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.06. MVB Financial had a net margin of 8.78% and a return on equity of 6.76%. The business had revenue of $33.68 million during the quarter, compared to analysts’ expectations of $34.48 million. As a group, equities analysts forecast that MVB Financial Corp. will post 1.4 EPS for the current fiscal year.

MVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.79%. The ex-dividend date was Friday, February 28th. MVB Financial’s dividend payout ratio is currently 46.58%.

Wall Street Analyst Weigh In

A number of analysts recently commented on MVBF shares. Raymond James dropped their price target on MVB Financial from $24.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods reduced their price target on MVB Financial from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd.

Insider Activity

In other news, insider Michael Louis Giorgio bought 5,700 shares of the stock in a transaction on Wednesday, March 12th. The shares were bought at an average price of $17.60 per share, with a total value of $100,320.00. Following the completion of the acquisition, the insider now owns 7,504 shares in the company, valued at $132,070.40. The trade was a 315.96 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Larry F. Mazza sold 6,962 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 626,358 shares of the company’s stock, valued at $10,955,001.42. This trade represents a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired a total of 7,400 shares of company stock valued at $129,574 over the last ninety days. 11.66% of the stock is currently owned by corporate insiders.

MVB Financial Company 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.