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

MVB Financial Corp. (NASDAQ:MVBF) announced a quarterly dividend on Tuesday, November 19th,Wall Street Journal reports. Stockholders of record on Sunday, December 1st will be paid a dividend of 0.17 per share on Sunday, December 15th. This represents a $0.68 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Friday, November 29th.

MVB Financial has increased its dividend by an average of 23.6% per year over the last three years. MVB Financial has a dividend payout ratio of 39.5% meaning 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

Shares of MVB Financial stock opened at $21.63 on Thursday. The company has a market cap of $279.89 million, a PE ratio of 15.23 and a beta of 1.05. MVB Financial has a 52 week low of $17.51 and a 52 week high of $25.24. The business has a 50 day moving average price of $20.22 and a 200-day moving average price of $20.04. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.24.

MVB Financial (NASDAQ:MVBF) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.19). The company had revenue of $53.28 million during the quarter, compared to analysts’ expectations of $35.90 million. MVB Financial had a return on equity of 6.29% and a net margin of 8.49%. Equities analysts anticipate that MVB Financial will post 1.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

About MVB Financial

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.