MVB Financial Corp. (NASDAQ:MVBF) Announces $0.17 Quarterly Dividend

MVB Financial Corp. (NASDAQ:MVBF) announced a quarterly dividend on Friday, November 22nd,Wall Street Journal reports. Investors of record on Sunday, December 1st will be given a dividend of 0.17 per share on Sunday, December 15th. This represents a $0.68 annualized dividend and a yield of 3.05%. The ex-dividend date is Friday, November 29th.

MVB Financial has increased its dividend payment by an average of 23.6% annually over the last three years. MVB Financial has a payout ratio of 39.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect MVB Financial to earn $1.70 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 40.0%.

MVB Financial Stock Performance

MVBF opened at $22.30 on Friday. MVB Financial has a 52-week low of $17.51 and a 52-week high of $25.24. The firm has a market capitalization of $288.56 million, a PE ratio of 15.70 and a beta of 1.05. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.94 and a current ratio of 0.94. The business’s 50-day simple moving average is $20.16 and its 200 day simple moving average is $19.96.

MVB Financial (NASDAQ:MVBF) last released its earnings results on Wednesday, October 30th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.19). The company had revenue of $53.28 million for the quarter, compared to the consensus estimate of $35.90 million. MVB Financial had a return on equity of 6.29% and a net margin of 8.49%. As a group, sell-side analysts expect that MVB Financial will post 1.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. boosted their price target on MVB Financial from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st.

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.