MVB Financial (MVBF) Misses Q3 Earnings and Revenue Estimates

Core Viewpoint - MVB Financial reported quarterly earnings of $0.16 per share, significantly missing the Zacks Consensus Estimate of $0.35 per share, representing a -54.29% earnings surprise [1][2] Financial Performance - The company posted revenues of $33.24 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 7.40% and down from $35.66 million a year ago [2] - Over the last four quarters, MVB Financial has surpassed consensus EPS estimates only once [2] Stock Performance - MVB Financial shares have declined approximately 9.2% since the beginning of the year, contrasting with the S&P 500's gain of 22.3% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.37 on revenues of $34.9 million, and for the current fiscal year, it is $1.38 on revenues of $143.5 million [7] - The estimate revisions trend for MVB Financial is currently unfavorable, resulting in a Zacks Rank 5 (Strong Sell) for the stock, indicating expected underperformance in the near future [6] Industry Context - The Financial - Miscellaneous Services industry, to which MVB Financial belongs, is currently in the top 35% of over 250 Zacks industries, suggesting a favorable industry outlook [8]