FVCBankcorp, Inc. (NASDAQ:FVCB) director Steven M. Wiltse has recently sold a significant amount of company stock, according to the latest SEC filings. The transactions, which took place on June 12 and June 14, resulted in a total sale value of over $32,000.
The first sale occurred on June 12, where Wiltse disposed of 1,656 shares at a price of $10.70 per share. Following this transaction, he then sold an additional 1,412 shares on June 14, with these shares fetching a slightly lower price of $10.37 each. Collectively, the sales across these two dates amounted to a total of $32,361, with prices ranging between $10.37 and $10.70 per share.
After these transactions, Wiltse's remaining direct ownership in FVCBankcorp consists of 2,397 shares. Additionally, the SEC filing indicated an indirect ownership of 22,188 shares through a Limited Liability Company (LLC).
The sales were executed as part of standard stock transactions and were reported in a timely manner to the SEC. It is not uncommon for directors and other high-level executives of publicly traded companies to buy or sell shares in their own firms. These transactions are closely watched by investors as they can provide insights into the executives' confidence in the company's current operations and future prospects.
Investors and market watchers can access the full details of these transactions through the SEC's EDGAR database, where all public filings are made available.
In other recent news, FVCBankcorp, a Virginia-based bank holding company, has announced the extension of its share repurchase program until 2025. This program, initiated in 2020, allows for the repurchase of up to 1,300,000 shares, approximately 7% of its outstanding common stock as of the end of 2023. In 2023, the company repurchased 115,750 shares of its common stock during open trading windows. Future repurchases, subject to management's discretion, may occur through open market purchases, block trades, or privately negotiated transactions. The company has clarified that the share repurchase program does not obligate it to repurchase any specific number of shares and may be modified, suspended, or terminated based on various factors. Once repurchased, the shares will be cancelled and returned to the status of authorized but unissued shares. These developments are part of the ongoing operations at FVCBankcorp.
InvestingPro Insights
Amidst the recent transactions by FVCBankcorp, Inc. (NASDAQ:FVCB) director Steven M. Wiltse, investors are keenly observing the company's financial health and market performance. According to the latest data from InvestingPro, FVCBankcorp is currently trading at a P/E Ratio of 39.96, which is relatively high, indicating that the company is trading at a high earnings multiple. This could suggest that investors are expecting higher earnings growth in the future, which aligns with one of the InvestingPro Tips that net income is expected to grow this year.
However, it's important to note that the company's stock is trading near its 52-week low, with a price percentage of 66.34% of its 52-week high. Additionally, FVCBankcorp has experienced a decline in revenue growth over the last twelve months as of Q1 2024, with a significant dip of -22.88%. Despite the negative revenue growth trend, the company has maintained a solid operating income margin of 24.28% during the same period.
For those looking to delve deeper into FVCBankcorp's financials and future prospects, InvestingPro Tips highlight that analysts predict the company will be profitable this year and it has been profitable over the last twelve months. However, it's worth noting that 2 analysts have revised their earnings downwards for the upcoming period, and the company does not pay a dividend to shareholders. For a comprehensive analysis and additional tips on FVCBankcorp, investors can visit InvestingPro. There are 7 more InvestingPro Tips available for FVCBankcorp on the platform. To enhance your investment research, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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