Geode Capital Management LLC Boosts Holdings in MVB Financial Corp. (NASDAQ:MVBF)

Geode Capital Management LLC increased its position in shares of MVB Financial Corp. (NASDAQ:MVBF) by 2.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 265,272 shares of the company’s stock after purchasing an additional 6,002 shares during the quarter. Geode Capital Management LLC’s holdings in MVB Financial were worth $5,136,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in MVB Financial by 25.2% in the second quarter. Bank of New York Mellon Corp now owns 70,492 shares of the company’s stock valued at $1,314,000 after purchasing an additional 14,176 shares during the period. Rhumbline Advisers lifted its position in MVB Financial by 3.2% in the second quarter. Rhumbline Advisers now owns 17,888 shares of the company’s stock valued at $333,000 after buying an additional 549 shares during the last quarter. Acadian Asset Management LLC boosted its stake in MVB Financial by 20.0% during the second quarter. Acadian Asset Management LLC now owns 9,764 shares of the company’s stock worth $181,000 after buying an additional 1,629 shares during the period. Dimensional Fund Advisors LP increased its position in shares of MVB Financial by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 343,623 shares of the company’s stock valued at $6,405,000 after acquiring an additional 18,649 shares during the last quarter. Finally, Squarepoint Ops LLC raised its stake in shares of MVB Financial by 75.2% in the 2nd quarter. Squarepoint Ops LLC now owns 16,748 shares of the company’s stock valued at $312,000 after acquiring an additional 7,191 shares during the period. 52.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

MVB Financial Stock Performance

Shares of MVB Financial stock opened at $20.42 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $264.26 million, a price-to-earnings ratio of 14.38 and a beta of 1.08. The business has a 50-day moving average of $21.09 and a 200 day moving average of $20.53. MVB Financial Corp. has a 12 month low of $17.51 and a 12 month high of $25.24.

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 analysts’ consensus estimates of $0.35 by ($0.19). MVB Financial had a net margin of 8.49% and a return on equity of 6.29%. The business had revenue of $53.28 million during the quarter, compared to analyst estimates of $35.90 million. As a group, sell-side analysts forecast that MVB Financial Corp. will post 1.08 earnings per share for the current year.

MVB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 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 3.33%. The ex-dividend date of this dividend was Friday, November 29th. MVB Financial’s dividend payout ratio is currently 47.89%.

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.