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.

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