MVB Financial Corp reports results for the quarter ended in June - Earnings Summary

MVB Financial

29/07/2024 23:25

* MVB Financial Corp  MVBF.OQ  reported quarterly adjusted
earnings of 31 cents​​ per share for the quarter ended in June,
lower than the same quarter last year, when the company reported
EPS of 63 cents.  The mean expectation of four analysts for the
quarter was for earnings of 36 cents per share. Wall Street
expected results to range from 31 cents to 42 cents per share.
    * Revenue fell 3.6% to $34.71 million from a year ago;
analysts
expected $37.89 million. 
    * MVB Financial Corp's reported EPS for the quarter was 31
cents​.
    * The company reported quarterly net income of $4.09
million.
    * MVB Financial Corp shares had risen by 32.9% this
quarter and
gained 9.8% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 13.2%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "buy"

Wall Street's median 12-month price target for MVB Financial
Corp is $22.00 
This summary was machine generated from LSEG data July 29 at
10:25 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.36           0.31           Missed
 Mar. 31 2024      0.38           0.34           Missed
 Dec. 31 2023      0.33           0.61           Beat
 Sep. 30 2023      0.59           0.29           Missed