Short Interest in MVB Financial Corp. (NASDAQ:MVBF) Decreases By 23.5%

MVB Financial Corp. (NASDAQ:MVBF) was the target of a significant drop in short interest in January. As of January 15th, there was short interest totalling 86,800 shares, a drop of 23.5% from the December 31st total of 113,400 shares. Based on an average daily trading volume, of 35,800 shares, the days-to-cover ratio is currently 2.4 days.

Institutional Investors Weigh In On MVB Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC increased its holdings in MVB Financial by 4.5% during the third quarter. Empowered Funds LLC now owns 12,354 shares of the company’s stock worth $239,000 after buying an additional 536 shares during the last quarter. Sippican Capital Advisors grew its position in shares of MVB Financial by 11.4% in the third quarter. Sippican Capital Advisors now owns 23,820 shares of the company’s stock valued at $461,000 after purchasing an additional 2,440 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in MVB Financial by 19.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 19,258 shares of the company’s stock valued at $373,000 after buying an additional 3,077 shares in the last quarter. SG Americas Securities LLC bought a new position in MVB Financial during the fourth quarter worth about $111,000. Finally, Geode Capital Management LLC raised its position in shares of MVB Financial by 2.3% in the third quarter. Geode Capital Management LLC now owns 265,272 shares of the company’s stock valued at $5,136,000 after buying an additional 6,002 shares in the last quarter. Institutional investors own 52.72% of the company’s stock.

MVB Financial Stock Up 0.3 %

Shares of MVBF stock opened at $19.84 on Friday. The firm’s fifty day moving average price is $20.55 and its two-hundred day moving average price is $20.63. 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 has a 1 year low of $17.51 and a 1 year high of $25.24. The firm has a market capitalization of $256.73 million, a P/E ratio of 13.97 and a beta of 1.06.

MVB Financial (NASDAQ:MVBF) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.19). MVB Financial had a net margin of 8.49% and a return on equity of 6.29%. The company had revenue of $53.28 million during the quarter, compared to the consensus estimate of $35.90 million. On average, equities analysts predict that MVB Financial will post 1.08 EPS for the current fiscal year.

MVB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend was Friday, November 29th. MVB Financial’s dividend payout ratio (DPR) is 47.89%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lifted their target price on MVB Financial from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th.

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.