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MVB Financial Corp. (MVBF)

Company Dividend Discount ModelIndustry: Banks - RegionalSector: Financial Services

Valuation Snapshot

Stable Growth$57.75 - $154.16$88.47
Multi-Stage$39.60 - $43.25$41.39
Blended Fair Value$64.93
Current Price$25.06
Upside159.11%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS30.81%30.01%0.670.660.640.460.330.170.090.080.050.05
YoY Growth--1.54%3.40%38.37%41.24%86.68%87.70%18.10%59.91%0.78%0.79%
Dividend Yield--3.86%2.98%3.08%1.11%0.96%1.37%0.60%0.40%0.39%0.36%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)32.16
(-) Cash Dividends Paid (M)8.78
(=) Cash Retained (M)23.37
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)6.434.022.41
Cash Retained (M)23.3723.3723.37
(-) Cash Required (M)-6.43-4.02-2.41
(=) Excess Retained (M)16.9419.3520.96
(/) Shares Outstanding (M)13.1313.1313.13
(=) Excess Retained per Share1.291.471.60
LTM Dividend per Share0.670.670.67
(+) Excess Retained per Share1.291.471.60
(=) Adjusted Dividend1.962.142.27
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate5.50%6.50%7.50%
Fair Value$57.75$88.47$154.16
Upside / Downside130.44%253.05%515.17%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)32.1634.2536.4738.8441.3744.0645.38
Payout Ratio27.31%39.85%52.39%64.93%77.46%90.00%92.50%
Projected Dividends (M)8.7813.6519.1125.2232.0439.6541.97

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)12.3912.5112.63
Year 2 PV (M)15.7616.0616.36
Year 3 PV (M)18.8919.4319.98
Year 4 PV (M)21.8022.6323.50
Year 5 PV (M)24.4925.6826.90
PV of Terminal Value (M)426.44447.04468.43
Equity Value (M)519.77543.35567.80
Shares Outstanding (M)13.1313.1313.13
Fair Value$39.60$41.39$43.25
Upside / Downside58.00%65.17%72.60%

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