MVB Financial (NASDAQ:MVBF) Posts Earnings Results

Posted by Jared Coughlin on May 2nd, 2024

MVB Financial (NASDAQ:MVBF – Get Free Report) posted its quarterly earnings data on Monday. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.04), Yahoo Finance reports. MVB Financial had a return on equity of 8.76% and a net margin of 11.10%. The company had revenue of $57.86 million for the quarter, compared to analyst estimates of $37.47 million.

MVB Financial Stock Performance

NASDAQ MVBF opened at $18.39 on Thursday. MVB Financial has a fifty-two week low of $16.43 and a fifty-two week high of $27.23. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $236.13 million, a P/E ratio of 9.83 and a beta of 1.04. The stock has a 50-day simple moving average of $20.70 and a two-hundred day simple moving average of $21.17.

MVB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend was Thursday, February 29th. MVB Financial’s dividend payout ratio is currently 36.36%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MVBF. Keefe, Bruyette & Woods lowered their price target on MVB Financial from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Friday, March 1st. JPMorgan Chase & Co. dropped their target price on MVB Financial from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report on Wednesday.

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About MVB Financial

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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.