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

MVB Financial

30/04/2024 03:36

* MVB Financial Corp  MVBF.OQ  reported quarterly adjusted
earnings of 34 cents​​ per share for the quarter ended in March,
lower than the same quarter last year, when the company reported
EPS of 87 cents.  The mean expectation of four analysts for the
quarter was for earnings of 38 cents per share. Wall Street
expected results to range from 32 cents to 43 cents per share.
    * Revenue rose 6.1% to $37.97 million from a year ago;
analysts
expected $37.15 million. 
    * MVB Financial Corp's reported EPS for the quarter was 34
cents​.
    * The company reported quarterly net income of $4.48
million.
    * MVB Financial Corp shares had fallen by 12.0% this
quarter and
lost 12.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 11.2%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," no
"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 $27.00 
This summary was machine generated from LSEG data April 30 at
02:36 a.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
 Mar. 31 2024      0.38           0.34           Missed
 Dec. 31 2023      0.33           0.61           Beat
 Sep. 30 2023      0.59           0.29           Missed
 Jun. 30 2023      0.58           0.63           Beat