Insider Buying: Mvb Financial Corp. (MVBF) Director Purchases 1,000 Shares of Stock

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Mvb Financial Corp. (OTCMKTS:MVBF) Director Cheryl Spielman purchased 1,000 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was bought at an average cost of $15.67 per share, with a total value of $15,670.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of Mvb Financial stock traded up $0.21 during trading hours on Friday, hitting $15.88. 10,115 shares of the company’s stock traded hands, compared to its average volume of 8,041. Mvb Financial Corp. has a 12-month low of $14.31 and a 12-month high of $19.90.

Mvb Financial (OTCMKTS:MVBF) last announced its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.04. The firm had revenue of $22.74 million during the quarter.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Investors of record on Saturday, June 1st will be issued a $0.04 dividend. The ex-dividend date is Thursday, May 30th. This represents a $0.16 annualized dividend and a yield of 1.01%. This is a positive change from Mvb Financial’s previous quarterly dividend of $0.04.

Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased its holdings in Mvb Financial by 527.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,813 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 1,524 shares during the last quarter. Bank of America Corp DE increased its holdings in Mvb Financial by 86.5% in the 4th quarter. Bank of America Corp DE now owns 5,712 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 2,650 shares during the last quarter. Rhumbline Advisers purchased a new stake in Mvb Financial in the 4th quarter worth about $210,000. Wells Fargo & Company MN increased its holdings in Mvb Financial by 15.5% in the 1st quarter. Wells Fargo & Company MN now owns 16,508 shares of the financial services provider’s stock worth $252,000 after acquiring an additional 2,211 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Mvb Financial by 18.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 21,970 shares of the financial services provider’s stock worth $336,000 after acquiring an additional 3,406 shares during the last quarter. 4.98% of the stock is owned by institutional investors.

MVBF has been the subject of several research analyst reports. Sandler O’Neill initiated coverage on Mvb Financial in a research report on Friday, April 12th. They set a “hold” rating and a $18.50 target price for the company. TheStreet raised Mvb Financial from a “c+” rating to a “b” rating in a research report on Wednesday, February 13th. Finally, Hovde Group initiated coverage on Mvb Financial in a research report on Friday, March 8th. They set an “outperform” rating and a $18.50 target price for the company.

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About Mvb Financial

MVB Financial Corp. (MVB) is a financial holding company. Through its subsidiaries, MVB Bank, Inc (the Bank), MVB Mortgage and MVB Insurance, LLC, the Company provides community banking, mortgage banking, insurance and wealth management services to individuals and corporate clients in the Mid-Atlantic region.

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