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BALTIMORE, MD - BV Financial, Inc. (NASDAQ:BVFL), a profitable financial institution with a market capitalization of $168 million and a P/E ratio of 14.8, disclosed the outcomes of its annual stockholder meeting held on Thursday, May 8, 2025, in a recent 8-K filing with the Securities and Exchange Commission (SEC). According to InvestingPro data, the company maintains a "GOOD" overall financial health score.
During the meeting, stockholders elected directors for a three-year term. William Streett Baldwin received 5,780,571 votes for and 821,305 withheld, with 2,113,034 broker non-votes. William B. Crompton, III was elected with 6,140,782 votes for, 461,094 withheld, and 2,113,034 broker non-votes. David M. Flair had 6,143,645 votes for, 458,231 withheld, and 2,113,034 broker non-votes. Lastly, Joshua W. Posnick received 5,053,606 votes for, 1,548,270 withheld, and 2,113,034 broker non-votes. InvestingPro analysis reveals that management has been actively buying back shares, demonstrating confidence in the company’s direction.
Additionally, stockholders approved the ratification of Forvis Mazars, LLP as the company’s independent registered public accounting firm for the year ending December 31, 2025. The decision was made with 8,151,096 votes for, 46,406 against, and 517,408 abstentions.
The filing confirms that the necessary quorum was present and the votes were duly taken. These results reflect the stockholders’ decisions on the matters submitted for their consideration.
This report is based solely on the information provided in the SEC filing and is intended to provide stockholders and the public with a concise summary of the key outcomes of BV Financial’s annual meeting. The company’s stock has demonstrated strong performance, delivering a nearly 50% return over the past year. For more detailed financial analysis and additional insights, investors can access over 30 key metrics and exclusive ProTips through InvestingPro.
In other recent news, BV Financial, Inc. has announced a stock repurchase program, having secured approval from the Federal Reserve Bank of Richmond. This initiative permits the company to buy back up to 10% of its outstanding common stock, approximately 10.6 million shares. The repurchase program will commence after the company releases its financial results for the quarter ending March 31, 2025. BV Financial plans to execute the repurchases through various methods, including open market transactions and block trades, while adhering to SEC regulations. The management will oversee the process, aiming to repurchase shares at favorable prices, considering factors such as market conditions and financial performance. The program is set to expire on December 31, 2025, but the Board of Directors may extend it with further approval. This move follows BV Financial’s transition from a mutual organization to a stock company with a public offering in July 2023. The company retains the flexibility to alter or suspend the repurchase plan based on market conditions and other factors.
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