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Victor Ray Maculaitis, a director at MVB Financial Corp. (NASDAQ:MVBF), has recently made a purchase of the company’s common stock. According to a recent SEC filing, Maculaitis acquired 250 shares at a price of $17.08 per share, amounting to a total transaction value of $4,270. This acquisition increases his total shareholding to 250 shares. The purchase comes as the stock trades near its 52-week low of $16.81, with InvestingPro analysis indicating the company is currently undervalued.
The transaction, dated March 11, 2025, was executed directly by Maculaitis, as indicated in the filing. The purchase reflects Maculaitis’s continued investment in the Fairmont, West Virginia-based financial services company, which boasts an impressive 18-year track record of consistent dividend payments and currently offers a 3.89% dividend yield. InvestingPro subscribers can access 8 additional key insights about MVBF’s financial health and market position.
In other recent news, MVB Financial has reported several significant developments. The company has entered into a $17.6 million sale-leaseback agreement involving four retail banking branches. This transaction is expected to generate a pre-tax gain of approximately $11.8 million for MVB Financial. Concurrently, the bank will lease back these properties under a 15-year master lease agreement with a base rent of $1.5 million annually, subject to a 2% annual increase. This financial maneuver is designed to optimize asset utilization and generate capital.
Additionally, Keefe, Bruyette & Woods maintained an Outperform rating for MVB Financial but lowered the price target from $26.00 to $25.00. The adjustment reflects the company’s strategic shifts and regulatory challenges over the past year. Despite the reduced earnings per share estimate and price target, the firm remains optimistic about MVB Financial’s future growth and profitability, particularly in 2025. The company’s focus on core areas and exiting certain business lines are seen as positive steps towards stability and growth.
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