MVB Financial Announces New Share Repurchase Plan, Stock Up

Core Viewpoint - MVB Financial Corp. has authorized a stock repurchase program of up to $10 million, which has positively impacted its share price, increasing by 3.2% following the announcement [1]. Group 1: Stock Repurchase Program - The stock repurchase program will be executed through open-market transactions, block transactions, and privately negotiated deals, adhering to SEC regulations [2]. - The timing and number of shares repurchased will depend on various factors including price, trading volume, and market conditions [2]. Group 2: Capital Distribution Activities - MVB Financial has consistently raised dividends, increasing them five times in the last five years, with the latest hike being 13.3% to 17 cents per share [3]. - The current dividend yield stands at 3.59%, based on the last closing price of $18.95 [3]. Group 3: Financial Position - As of March 31, 2025, MVB Financial reported cash and cash equivalents of $251 million and long-term debt of $74 million, indicating a strong liquidity position [4]. - The CEO emphasized that the company's strong capital position enables the execution of the stock repurchase program, enhancing shareholder value [5]. Group 4: Market Performance - Over the past three months, MVBF shares have increased by 0.6%, while the industry has seen a growth of 5.8% [6]. - Currently, the company holds a Zacks Rank of 3 (Hold) [7].