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MORGANTOWN, W.Va. — Donald T. Robinson, President and Chief Financial Officer of MVB Financial Corp (NASDAQ:MVBF), recently acquired 1,450 shares of the company’s common stock. The shares were purchased on March 14 at a price of $17.225 each, amounting to a total transaction value of $24,976. Following this transaction, Robinson’s direct ownership stands at 62,758 shares. The purchase comes as the stock trades near its 52-week low of $16.81, with InvestingPro analysis suggesting the shares are currently undervalued.
In addition to this purchase, the filing also disclosed several other transactions involving zero-cost stock transfers, which include shares held indirectly by Brent Robinson and the Brent D. Robinson Family Trust. These transactions did not involve any cash exchange and were reported separately from the purchase.
The filings reflect Robinson’s ongoing engagement with the company’s stock, demonstrating his continued interest in MVB Financial’s performance and future prospects.
In other recent news, MVB Financial has entered into a $17.6 million sale-leaseback agreement involving four of its retail banking branches. This transaction, effective December 30, 2024, allows MVB Bank to lease back the properties for an initial term of 15 years, with options for extensions. The deal is expected to generate a pre-tax gain of approximately $11.8 million for the company. Concurrently, Keefe, Bruyette & Woods maintained an Outperform rating on MVB Financial but reduced the stock’s price target from $26.00 to $25.00. The firm highlighted the company’s strategic focus on enhancing risk management and compliance, while also exiting the cryptocurrency business. Analysts from Keefe anticipate significant improvements in revenue and profitability by 2025, noting the company’s investments in its payments platform and technology-enabled logistics firm, Victor. Despite the price target reduction, the valuation remains attractive, trading at 80% of tangible book value. These developments reflect MVB Financial’s efforts to optimize asset utilization and focus on long-term growth.
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