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Joseph S. Galli, a director at BV Financial, Inc. (NASDAQ:BVFL), a $166 million market cap financial services company, recently sold a significant amount of the company’s common stock. According to a filing with the Securities and Exchange Commission, Galli disposed of shares over two days in May. InvestingPro analysis suggests the stock is currently trading slightly below its Fair Value.
On May 21 and 22, Galli sold a total of 3,836 shares at prices ranging from $15.80 to $15.8499 per share. The transactions resulted in a total value of approximately $60,620. Following these sales, Galli holds 8,803 shares directly through a Roth IRA. The company maintains a healthy P/E ratio of 14.6x and has demonstrated profitability over the last twelve months, with an overall Financial Health score rated as GOOD by InvestingPro.
These transactions are part of Galli’s ongoing management of his investment portfolio and were executed without any reported equity swaps. While the director is selling some shares, InvestingPro data shows management has been actively buying back shares, potentially signaling confidence in the company’s value. As of the latest filing, Galli continues to maintain substantial holdings in BV Financial, with shares also held through various other accounts, including a retirement plan and an IRA.
In other recent news, BV Financial, Inc. announced the results of its annual stockholder meeting, where directors were elected for a three-year term. William Streett Baldwin, William B. Crompton, III, David M. Flair, and Joshua W. Posnick were among those elected, with varying vote counts. Additionally, stockholders approved Forvis Mazars, LLP as the independent registered public accounting firm for the year ending December 31, 2025. In another development, BV Financial has launched a share repurchase program, approved by the Federal Reserve Bank of Richmond. The program allows for the repurchase of up to 10% of the company’s outstanding common stock, which translates to about 10.6 million shares. The repurchase will commence following the disclosure of financial results for the quarter ending March 31, 2025, and will be conducted through various methods, including open market transactions and block trades. The initiative is set to expire on December 31, 2025, unless extended by the Board of Directors. BV Financial retains the right to modify or terminate the program based on market conditions and other factors.
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