MVB Financial Corp., together with its subsidiaries, provides banking and mortgage products and services to individuals and corporate clients in the United States. The company operates through three segments: Commercial and Retail Banking; Mortgage Banking; and Financial Holding Company. It offers various demand deposit accounts, savings accounts, money market accounts, and certificates of deposit; and grants various types of loans, including commercial and commercial real estate loans, residential real estate loans, home equity lines of credit, and consumer loans. The company also provides debit cards; cashier's checks; safe deposit rental facilities; and non-deposit investment services, as well as automated teller machines, and internet and telephone banking services. The company operates 13 full-service banking branches; ten offices in West Virginia; and three in Virginia. MVB Financial Corp. was founded in 1997 and is headquartered in Fairmont, West Virginia.
IPO Year:
Exchange: NASDAQ
Website: mvbbanking.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 5/15/2024 | $21.00 | Outperform → Market Perform | Hovde Group |
| 5/8/2024 | $27.00 → $23.00 | Outperform | Hovde Group |
| 2/27/2023 | $35.00 | Overweight | JP Morgan |
| 2/21/2023 | $29.00 | Outperform | Raymond James |
| 4/1/2022 | $64.00 | Strong Buy | Raymond James |
8-K - MVB FINANCIAL CORP (0001277902) (Filer)
8-K - MVB FINANCIAL CORP (0001277902) (Filer)
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10-Q - MVB FINANCIAL CORP (0001277902) (Filer)
8-K - MVB FINANCIAL CORP (0001277902) (Filer)
8-K - MVB FINANCIAL CORP (0001277902) (Filer)
8-K - MVB FINANCIAL CORP (0001277902) (Filer)
8-K - MVB FINANCIAL CORP (0001277902) (Filer)
11-K - MVB FINANCIAL CORP (0001277902) (Filer)
8-K - MVB FINANCIAL CORP (0001277902) (Filer)
Purpose and Values Driven Culture Recognized Nationally MVB Bank, Inc., a wholly-owned subsidiary of MVB Financial Corp. ("MVB Financial") (NASDAQ:MVBF) (collectively "MVB"), for the third consecutive year has been named one of American Banker Magazine's Best Banks to Work For. MVB placed number 16 among the 90 U.S. banks in the ranking, which assesses employee satisfaction in areas including corporate culture and communications, training and development opportunities and pay and benefits. "Through our strategic Culture Initiative, culture has become MVB's secret sauce and part of our corporate DNA, mindset and behavior of Team MVB," said Larry F. Mazza, CEO, MVB Financial. "These resul
The Board of Directors of MVB Financial Corp. ("MVBF" or "MVB Financial") (NASDAQ:MVBF) has announced the appointment of Jan L. Owen as a Member of the Board. "MVB is pleased to have Jan join the MVB Board of Directors. With her strong knowledge of federal, state and international regulatory requirements and her background in payments and cryptocurrency, she will provide valuable expertise to the Board as we pursue our growth vehicles related to our expanding Fintech business," said W. Marston "Marty" Becker, Chairman, MVBF Board of Directors. Since 2019, Owen has been a senior advisor in the Financial Services Group at Manatt, Phelps & Phillips, LLP, and is based in the Sacramento, Calif
The Board of Directors of MVB Financial Corp. ("MVB" or "MVB Financial") (NASDAQ:MVBF) has announced the appointment of Lindsay Slader as a Member of the Board. "MVB is pleased to have Lindsay join the MVB Board of Directors. As a leader in the gaming industry, she will provide valuable expertise to the Board as we pursue our growth vehicles related to our expanding Fintech business," said David Alvarez, Chairman, MVB Financial Board of Directors. Slader was approved as a Director by the shareholders of MVB at the annual meeting of shareholders Tuesday, May 17, 2022, to serve for a three-year term. Slader serves as the Managing Director of Gaming at GeoComply, a cybersecurity and fraud p
The Board of Directors of MVB Financial Corp. ("MVB" or "MVB Financial") (NASDAQ:MVBF) has announced the appointment of Daniel W. Holt as a Member of the Board. "MVB is pleased that Dan is rejoining the MVB Board of Directors, where he previously served from 2017 to 2021. As a leader in the Fintech world, Dan has been a great asset to the Board and an exceptional resource in supporting MVB as the company executes in the Fintech industry," said David Alvarez, Chairman, MVB Financial Board of Directors. On January 17, 2022, the MVB Board of Directors expanded the number of directors to 10 and elected Daniel W. Holt as a director, subject to the approval of the shareholders of MVB at the nex
MVB Financial Corp. (NASDAQ:MVBF) ("MVB Financial," "MVB," or the "Company") has declared a quarterly cash dividend of $0.17 per share, maintaining the dividend declared in the previous quarter for shareholders of record as of December 1, 2024, payable on December 15, 2024. This is the fourth quarterly dividend for 2024. "We are pleased to continue to add value for our shareholders and encouraged by the adaptability of Team MVB and the resilience of our business model," said Larry F. Mazza, Chief Executive Officer, MVB Financial. "MVB's foundational strength remains intact, evidenced by stable asset quality, an enhanced capital base and growth in tangible book value per share. We are in
MVB Financial Corp. (NASDAQ:MVBF) ("MVB Financial," "MVB" or the "Company"), the holding company for MVB Bank, Inc. ("MVB Bank"), today announced financial results for the third quarter of 2024, with reported net income of $2.1 million, or $0.16 basic and diluted earnings per share. Third Quarter 2024 Highlights Previously disclosed digital asset program exit reduced EPS by $0.29 in third quarter and $0.37 year-to-date. Noninterest bearing deposits represent 33.0% of total deposits. On balance sheet payments-related deposits increased by 60.8% due to growth in existing relationships. Tangible book value per share of $23.20, up 2.2% from the prior quarter. Capital strength further enha
MVB Financial Corp. (NASDAQ:MVBF) ("MVB Financial," "MVB," or the "Company") has declared a quarterly cash dividend of $0.17 per share, maintaining the dividend declared in the previous quarter for shareholders of record as of September 1, 2024, payable on September 15, 2024. This is the third quarterly dividend for 2024. "Several notable developments during the second quarter impacted our near-term financial results, while also helped to solidify our strategy, setting the stage for future growth and improved profitability," said Larry F. Mazza, Chief Executive Officer, MVB. "MVB's second quarter financial results were marked by improved expense control, shareholder value creation in th
MVB Financial Corp. (NASDAQ:MVBF) ("MVB Financial," "MVB" or the "Company"), the holding company for MVB Bank, Inc. ("MVB Bank"), today announced financial results for the second quarter of 2024, with reported net income of $4.1 million, or $0.32 basic and $0.31 diluted earnings per share. Second Quarter 2024 Highlights MVB names payments industry veteran Jeremy Kuiper as Fintech President. MVB and Intuit-Credit Karma renew partnership agreement. Exit of digital asset program account relationships during second quarter reduced EPS by $0.08 with strong funding and liquidity profile maintained. Noninterest bearing deposits represent 34.1% of total deposits | Loan-to-deposit ratio of
MVB Financial Corp. (NASDAQ:MVBF) ("MVB Financial," "MVB," or the "Company") has declared a quarterly cash dividend of $0.17 per share, maintaining the dividend declared in the previous quarter for shareholders of record as of June 1, 2024, payable on June 15, 2024. This is the second quarterly dividend for 2024. "Amidst volatile market conditions in the first quarter of 2024, MVB made progress on several key initiatives. Most notably, we further solidified foundational measures of safety and soundness. Our balance sheet liquidity position and the quality of our funding mix improved; asset quality indicators were stable; commercial real estate concentrations remained well within regulator
MVB Financial Corp. (NASDAQ:MVBF) ("MVB Financial," "MVB" or the "Company"), the holding company for MVB Bank, Inc. ("MVB Bank"), today announced financial results for the first quarter of 2024, with reported net income of $4.5 million, or $0.35 basic and $0.34 diluted earnings per share. First Quarter 2024 Highlights As Compared to Fourth Quarter 2023 Total revenue increased 6.8%, or $2.4 million. Fintech fee income grew 26.3%, or $1.0 million. Noninterest bearing deposits increased 16.2%, or $193.8 million, and represent 44% of total deposits. Nonperforming loans declined 8.7%; Measures of asset quality and capital strength were stable. Book value per share and tangible book v
MVB Financial Corp. (NASDAQ:MVBF) ("MVB Financial," "MVB," or the "Company") has declared a quarterly cash dividend of $0.17 per share, maintaining the dividend declared in the previous quarter for shareholders of record as of March 1, 2024, payable on March 15, 2024. This is the first quarterly dividend for 2024. "MVB closed a challenging year for the banking industry with strong fourth quarter results. Loans and investment securities continued to reprice higher, excess liquidity was redeployed as the pace of loan growth picked up and funding costs stabilized, driving significant improvement in net interest margin and net interest income. At the same time, expenses were well-controlled,
MVB Financial Corp. (NASDAQ:MVBF) ("MVB Financial," "MVB" or the "Company"), the holding company for MVB Bank, Inc. ("MVB Bank"), today announced financial results for the fourth quarter and year ended December 31, 2023, with reported net income of $7.9 million, or $0.62 basic and $0.61 diluted earnings per share for the three months ended December 31, 2023. Fourth Quarter 2023 Highlights As Compared to Third Quarter 2023 Net interest income increased 4.2%, or $1.2 million. Net interest margin improved by 17 bps to 4.04%. Earnings per share up 106.7% to $0.62. Loan growth of 2.1%; Balance sheet loan to deposit ratio of 79.9% from 74.7%. Noninterest expense declined by 7.9%, or $
MVB Financial Corp. (NASDAQ:MVBF) ("MVB Financial," "MVB," or the "Company") has declared a quarterly cash dividend of $0.17 per share, maintaining the dividend declared in the previous quarter for shareholders of record as of December 1, 2023, payable on December 15, 2023. This is the fourth quarterly dividend for 2023. "While market conditions remained volatile during the third quarter, Team MVB built upon our already strong foundation. We continued to optimize our earnings power and grew low-cost deposits and reduced higher-cost funding, further optimizing our deposit mix, improving our strong liquidity position, and with asset yields continuing to reprice higher, drove improvement in
MVB Financial Corp. (NASDAQ:MVBF) ("MVB Financial," "MVB" or the "Company"), the holding company for MVB Bank, Inc. ("MVB Bank"), today announced financial results for the third quarter of 2023, with reported net income of $3.9 million, or $0.30 basic and $0.29 diluted earnings per share. Third Quarter 2023 Highlights As Compared to Second Quarter 2023 Balance sheet deposits increased 2.7%, or $80.0M. Noninterest bearing deposits increased 10.8%, or $106.3M, and represent 36% of deposits. Balance sheet loan to deposit ratio of 74.7%, compared to 78.1%. Nonperforming loans decreased 22.4%, or $3.1M. Net interest margin improved by 10 bps, to 3.87%. From Larry F. Mazza, Chief Ex
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MVB Financial Corp. (NASDAQ:MVBF) ("MVB Financial," "MVB," or the "Company") has declared a quarterly cash dividend of $0.17 per share, maintaining the dividend declared in the previous quarter for shareholders of record as of December 1, 2024, payable on December 15, 2024. This is the fourth quarterly dividend for 2024. "We are pleased to continue to add value for our shareholders and encouraged by the adaptability of Team MVB and the resilience of our business model," said Larry F. Mazza, Chief Executive Officer, MVB Financial. "MVB's foundational strength remains intact, evidenced by stable asset quality, an enhanced capital base and growth in tangible book value per share. We are in
MVB Financial Corp. (NASDAQ:MVBF) ("MVB," "MVB Financial" or the "Company"), the parent holding company for MVB Bank (the "Bank"), has named Joe Rodriguez as Chief Risk Officer. Rodriguez has a strong reputation in the financial services risk management industry as a leader who operates at the intersection of innovation and prudent risk management. "We are pleased to welcome Joe Rodriguez to the MVB family as a trusted partner on the financial frontier, committed to the success of our Team, clients, communities and shareholders," said Larry F. Mazza, CEO, MVB Financial and MVB Bank. "Known for his deep-seated expertise in banking and financial services regulatory frameworks, Joe has bui
MVB Financial Corp. (NASDAQ:MVBF) ("MVB Financial," "MVB" or the "Company"), the holding company for MVB Bank, Inc. ("MVB Bank"), today announced financial results for the third quarter of 2024, with reported net income of $2.1 million, or $0.16 basic and diluted earnings per share. Third Quarter 2024 Highlights Previously disclosed digital asset program exit reduced EPS by $0.29 in third quarter and $0.37 year-to-date. Noninterest bearing deposits represent 33.0% of total deposits. On balance sheet payments-related deposits increased by 60.8% due to growth in existing relationships. Tangible book value per share of $23.20, up 2.2% from the prior quarter. Capital strength further enha
MVB Financial Corp. (NASDAQ:MVBF) ("MVB Financial," "MVB," or the "Company") has declared a quarterly cash dividend of $0.17 per share, maintaining the dividend declared in the previous quarter for shareholders of record as of September 1, 2024, payable on September 15, 2024. This is the third quarterly dividend for 2024. "Several notable developments during the second quarter impacted our near-term financial results, while also helped to solidify our strategy, setting the stage for future growth and improved profitability," said Larry F. Mazza, Chief Executive Officer, MVB. "MVB's second quarter financial results were marked by improved expense control, shareholder value creation in th
MVB Financial Corp. (NASDAQ:MVBF) ("MVB Financial," "MVB" or the "Company"), the holding company for MVB Bank, Inc. ("MVB Bank"), today announced financial results for the second quarter of 2024, with reported net income of $4.1 million, or $0.32 basic and $0.31 diluted earnings per share. Second Quarter 2024 Highlights MVB names payments industry veteran Jeremy Kuiper as Fintech President. MVB and Intuit-Credit Karma renew partnership agreement. Exit of digital asset program account relationships during second quarter reduced EPS by $0.08 with strong funding and liquidity profile maintained. Noninterest bearing deposits represent 34.1% of total deposits | Loan-to-deposit ratio of
MVB Financial Corp. (NASDAQ:MVBF) ("MVB," "MVB Financial" or the "Company"), the parent holding company for MVB Bank (the "Bank"), has named Jeremy Kuiper as EVP, Fintech President. Kuiper brings to MVB 25 years of payments industry experience at the executive and board level. "Jeremy Kuiper has a proven track record of strong leadership in the payments industry, and we are pleased to welcome him to the MVB family as a trusted partner on the financial frontier, committed to the success of our Team, clients, communities and shareholders," said Larry F. Mazza, CEO, MVB Financial and MVB Bank. "With Jeremy's expertise, we look forward to expanding our Fintech Banking to even greater succes
MVB Financial Corp. (NASDAQ:MVBF) ("MVB Financial," "MVB," or the "Company") has declared a quarterly cash dividend of $0.17 per share, maintaining the dividend declared in the previous quarter for shareholders of record as of June 1, 2024, payable on June 15, 2024. This is the second quarterly dividend for 2024. "Amidst volatile market conditions in the first quarter of 2024, MVB made progress on several key initiatives. Most notably, we further solidified foundational measures of safety and soundness. Our balance sheet liquidity position and the quality of our funding mix improved; asset quality indicators were stable; commercial real estate concentrations remained well within regulator
MVB Financial Corp. (NASDAQ:MVBF) ("MVB Financial," "MVB" or the "Company"), the holding company for MVB Bank, Inc. ("MVB Bank"), today announced financial results for the first quarter of 2024, with reported net income of $4.5 million, or $0.35 basic and $0.34 diluted earnings per share. First Quarter 2024 Highlights As Compared to Fourth Quarter 2023 Total revenue increased 6.8%, or $2.4 million. Fintech fee income grew 26.3%, or $1.0 million. Noninterest bearing deposits increased 16.2%, or $193.8 million, and represent 44% of total deposits. Nonperforming loans declined 8.7%; Measures of asset quality and capital strength were stable. Book value per share and tangible book v
MVB Financial Corp. (NASDAQ:MVBF) ("MVB Financial," "MVB," or the "Company") has declared a quarterly cash dividend of $0.17 per share, maintaining the dividend declared in the previous quarter for shareholders of record as of March 1, 2024, payable on March 15, 2024. This is the first quarterly dividend for 2024. "MVB closed a challenging year for the banking industry with strong fourth quarter results. Loans and investment securities continued to reprice higher, excess liquidity was redeployed as the pace of loan growth picked up and funding costs stabilized, driving significant improvement in net interest margin and net interest income. At the same time, expenses were well-controlled,
MVB Financial Corp. (NASDAQ:MVBF) ("MVB Financial," "MVB" or the "Company"), the holding company for MVB Bank, Inc. ("MVB Bank"), today announced financial results for the fourth quarter and year ended December 31, 2023, with reported net income of $7.9 million, or $0.62 basic and $0.61 diluted earnings per share for the three months ended December 31, 2023. Fourth Quarter 2023 Highlights As Compared to Third Quarter 2023 Net interest income increased 4.2%, or $1.2 million. Net interest margin improved by 17 bps to 4.04%. Earnings per share up 106.7% to $0.62. Loan growth of 2.1%; Balance sheet loan to deposit ratio of 79.9% from 74.7%. Noninterest expense declined by 7.9%, or $
Hovde Group downgraded MVB Financial from Outperform to Market Perform and set a new price target of $21.00
Hovde Group reiterated coverage of MVB Financial with a rating of Outperform and set a new price target of $23.00 from $27.00 previously
JP Morgan initiated coverage of MVB Financial with a rating of Overweight and set a new price target of $35.00
Raymond James resumed coverage of MVB Financial with a rating of Outperform and set a new price target of $29.00
Raymond James initiated coverage of MVB Financial with a rating of Strong Buy and set a new price target of $64.00
Piper Sandler downgraded MVB Financial from Overweight to Neutral
Piper Sandler downgraded MVB Financial from Overweight to Neutral and set a new price target of $38.00 from $24.00 previously
Hovde Group analyst Brett Rabatin downgrades MVB Financial (NASDAQ:MVBF) from Outperform to Market Perform.
JPMorgan analyst Steven Alexopoulos has identified seven bank stocks poised for significant growth in the current market landscape. He’s referred to these picks as “our ‘Magnificent Seven'”. JPMorgan’s Magnificent Seven Bank Stock Picks Alexopoulos’ picks from among mid- and small-cap banks, and his views (summarized) on them are as follows: First Citizens BancShares Inc (Delaware) Class A (NASDAQ:FCNCA): Despite a challenging VC environment in 1Q24, First Citizens’ acquisition of SVB has stabilized deposit balances and increased new deposits, indicating potential growth in the future. The bank’s asset-sensitive balance sheet could benefit from potential Fed rate cuts, leading to s
In the last three months, 4 analysts have published ratings on MVB Financial (NASDAQ:MVBF), offering a diverse range of perspectives from bullish to bearish. Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 0 4 0 0 0 Last 30D 0 1 0 0 0 1M Ago 0 1 0 0 0 2M Ago 0 0 0 0 0 3M Ago 0 2 0 0 0 Insights from analysts' 12-month price targets are revealed, presenting an average target of $27.0, a high estimate of $30.00, and a low estimate of $25.00. This current average has decreased by 3.57% from the pre
JP Morgan analyst Steven Alexopoulos maintains MVB Financial (NASDAQ:MVBF) with a Overweight and lowers the price target from $28 to $25.
MVB Financial (NASDAQ:MVBF) reported quarterly earnings of $0.34 per share which missed the analyst consensus estimate of $0.38 by 10.53 percent. This is a 60.92 percent decrease over earnings of $0.87 per share from the same period last year.
JP Morgan analyst Steven Alexopoulos maintains MVB Financial (NASDAQ:MVBF) with a Overweight and lowers the price target from $30 to $28.
Keefe, Bruyette & Woods analyst Catherine Mealor maintains MVB Financial (NASDAQ:MVBF) with a Outperform and lowers the price target from $26 to $25.
Wednesday marks the last chance for investors to receive the next dividend payout from MVB Financial (NASDAQ:MVBF). What's Happening The company announced on Tuesday that it would pay shareholders a quarterly dividend of 17 cents per share. On Thursday, MVB Financial will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 17 cents lower than it would have opened on any other day. In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Thursday. Shareholders who own MVBF as of the end of Wednesday's session are eligible to receive the 17 cents divid
MVB Financial (NASDAQ:MVBF) reported quarterly earnings of $0.61 per share which beat the analyst consensus estimate of $0.33 by 84.85 percent. This is a 22 percent increase over earnings of $0.50 per share from the same period last year. The company reported quarterly sales of $35.55 million which missed the analyst consensus estimate of $37.96 million by 6.36 percent. This is a 10.63 percent decrease over sales of $39.77 million the same period last year.
MVB Financial (NASDAQ:MVBF) reported its Q4 earnings results on Wednesday, February 14, 2024 at 04:30 PM. Here's what investors need to know about the announcement. Earnings MVB Financial beat estimated earnings by 84.85%, reporting an EPS of $0.61 versus an estimate of $0.33. Revenue was down $4.23 million from the same period last year. Past Earnings Performance Last quarter the company missed on EPS by $0.3 which was followed by a 2.63% drop in the share price the next day. Here's a look at MVB Financial's past performance: Quarter Q3 2023 Q2 2023 Q1 2023 Q4 2022 EPS Estimate 0.59 0.58 0.63 0.51 EPS Actual 0.29 0.63 0.87 0.50 Revenue Estimate 36.74M 40.64M 42.60M 40.65M Reven