David W. Pijor, Chairman and Chief Executive Officer of FVCBankcorp, Inc. (NASDAQ:FVCB), recently sold 2,000 shares of the company's common stock. The sale, which took place on November 18, 2024, was executed at a price of $13.50 per share, amounting to a total transaction value of $27,000. Following this transaction, Pijor retains ownership of 466,566 shares in the company. This activity was disclosed in a Form 4 filing with the Securities and Exchange Commission.
In other recent news, FVCBankcorp disclosed the impending retirement of B. Todd Dempsey, the company's Executive Vice President and Chief Operating Officer (COO). Dempsey, who has been with the bank since its inception, will retire effective November 1, 2024. His role as COO included overseeing support functions such as information technology, deposit operations, loan operations, cash management, and facilities management. Prior to his COO role, Dempsey held various positions at FVCBankcorp, including Chief Credit Officer. David W. Pijor, Chairman and Chief Executive Officer of FVCBankcorp, commended Dempsey's significant contributions to the bank over the years. These recent developments mark a significant transition for FVCBankcorp as they prepare for Dempsey's departure.
InvestingPro Insights
In light of David W. Pijor's recent stock sale, it's worth examining FVCBankcorp's current financial position and market performance. According to InvestingPro data, FVCBankcorp (NASDAQ:FVCB) has a market capitalization of $241.57 million, with a price-to-earnings ratio of 46.48. This relatively high P/E ratio aligns with one of the InvestingPro Tips, which notes that FVCB is "Trading at a high earnings multiple."
Despite the CEO's stock sale, FVCB has shown strong recent performance, with an InvestingPro Tip highlighting a "Strong return over the last three months." This is corroborated by the 3-month price total return of 18.62%, indicating investor confidence in the company's near-term prospects.
It's important to note that while FVCB has been profitable over the last twelve months, with analysts expecting continued profitability this year, the company does not pay a dividend to shareholders. This information, provided by InvestingPro Tips, may be particularly relevant for income-focused investors considering FVCB stock.
For a more comprehensive analysis, investors can access additional insights through InvestingPro, which offers 7 more tips for FVCBankcorp, providing a deeper understanding of the company's financial health and market position.
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