Analysts expect MVB Financial Corp. (NASDAQ:MVBF) to Report Quarterly Sales of $39.30 Million
Equity research analysts expect MVB Financial Corp. (NASDAQ:MVBF – Get a rating) will announce $39.30 million in sales for the current quarter, according to Zacks Investment Research. Two analysts provided earnings estimates for MVB Financial, with the lowest sales estimate of $35.79 million and the highest estimate of $42.80 million. MVB Financial reported sales of $32.70 million in the same quarter last year, suggesting a positive year-over-year growth rate of 20.2%. The company is expected to announce its next results on Monday, January 1.
According to Zacks, analysts expect MVB Financial to report annual sales of $157.43 million for the current fiscal year, with estimates ranging from $151.27 million to $163.60 million. For the next fiscal year, analysts expect the company to record sales of $204.34 million, with estimates ranging from $191.38 million to $217.30 million. Zacks sales averages are an average based on a survey of research companies that cover MVB Financial.
MVB Financial (NASDAQ:MVBF – Get a rating) last released its results on Monday, May 2. The company reported earnings per share (EPS) of $0.22 for the quarter, missing analyst consensus estimates of $0.35 per ($0.13). MVB Financial had a return on equity of 12.85% and a net margin of 22.65%.
A number of brokerages have weighed in on MVBF recently. Piper Sandler raised its price target on MVB Financial from $43.00 to $44.50 and gave the company a “neutral” rating in a Thursday, March 17 report. Raymond James began covering MVB Financial in a report on Friday, April 1. They set a “Strong Buy” rating and a price target of $64.00 on the stock. To finish, Zacks Investment Research downgraded MVB Financial from a “hold” to a “sell” rating in a Wednesday, May 18 report.
Hedge funds and other institutional investors have recently changed their stakes in the company. Citigroup Inc. increased its stake in MVB Financial by 145.2% in the third quarter. Citigroup Inc. now owns 1,150 shares of the company valued at $49,000 after buying 681 additional shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in MVB Financial by 113.5% in the third quarter. BNP Paribas Arbitrage SA now owns 2,464 shares in the company valued at $106,000 after buying an additional 1,310 shares last quarter. Allspring Global Investments Holdings LLC bought a new position in MVB Financial in the fourth quarter worth approximately $133,000. Barclays PLC increased its stake in MVB Financial by 231.8% in the third quarter. Barclays PLC now owns 4,131 shares in the company valued at $177,000 after buying an additional 2,886 shares last quarter. Finally, MetLife Investment Management LLC increased its stake in MVB Financial by 58.5% in the first quarter. MetLife Investment Management LLC now owns 6,009 shares of the company valued at $249,000 after buying 2,218 additional shares last quarter. Hedge funds and other institutional investors own 46.31% of the company’s shares.
Shares of NASDAQ MVBF opened at $34.70 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a leverage ratio of 0.28. The stock has a market capitalization of $421.50 million, a price-earnings ratio of 13.14 and a beta of 0.89. The stock’s fifty-day simple moving average is $39.40 and its 200-day simple moving average is $40.14. MVB Financial has a 52 week low of $34.65 and a 52 week high of $45.44.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 15. Shareholders of record on Wednesday, June 1 will receive a dividend of $0.17. The ex-dividend date is Tuesday, May 31. This represents a dividend of $0.68 on an annualized basis and a yield of 1.96%. MVB Financial’s dividend payout ratio (DPR) is currently 25.76%.
MVB Financial Company Profile (Get a rating)
MVB Financial Corp., through its subsidiaries, provides financial services to individuals and businesses in the Mid-Atlantic region and internationally. The Company operates through three segments: CoRe Banking, Mortgage Banking and Financial Holding Company. It offers various demand deposit accounts, savings accounts, money market accounts and certificates of deposit; and commercial, consumer and real estate mortgages and lines of credit.
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in MVB Financial right now?
Before you consider MVB Financial, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and MVB Financial wasn’t on the list.
Although MVB Financial currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here