In a recent transaction, James R. Brannen, the President and CEO of First Seacoast Bancorp, Inc. (NASDAQ:FSEA), purchased shares of the company's common stock. The transaction, which took place on August 14, 2024, involved the acquisition of 500 shares at a price of $9.284 per share, amounting to a total investment of $4,642.
This move by Brannen has added to his already substantial holdings in the company. Following the purchase, he now directly owns 15,037 shares of First Seacoast Bancorp. Additionally, records indicate indirect ownership through various investment vehicles, including an IRA with 9,179 shares, a 401(k) with 4,275 shares, and an ESOP with 2,875 shares.
Investors often scrutinize such transactions as they may reflect the executives' confidence in the company's future prospects. Brannen's role as both President and CEO places him in a position with significant insight into the bank's operations and potential, making his investment decisions particularly noteworthy.
First Seacoast Bancorp, headquartered in Dover (NYSE:DOV), New Hampshire, operates as a federally chartered savings institution. The company's stock trades on the NASDAQ under the ticker symbol FSEA.
InvestingPro Insights
In light of James R. Brannen's recent stock purchase, it's pertinent to examine First Seacoast Bancorp's financial health and market position. According to InvestingPro data, First Seacoast Bancorp has a market capitalization of approximately $41.49 million, signaling its status as a smaller player in the banking sector. Despite trading near its 52-week high, with a price percentage of the 52-week high at 97.58%, the company's stock has been characterized by low price volatility, which may appeal to risk-averse investors.
On the earnings front, the company has not been profitable over the last twelve months, with a reported operating income margin of -43.77%. This aligns with one of the InvestingPro Tips, which points out the company's weak gross profit margins. Additionally, First Seacoast Bancorp does not pay a dividend, which might be a consideration for income-focused investors.
For those interested in a deeper dive into the company's performance and investment potential, there are additional InvestingPro Tips available. These tips can provide further context to Brannen's investment and the company's outlook. As of now, there are 5 more tips listed on InvestingPro for First Seacoast Bancorp, which can be accessed for more nuanced investment analysis.
Investors may also note the InvestingPro Fair Value estimate of $7.91 for FSEA, which is below the recent closing price of $9.28. This discrepancy could suggest that the stock is currently trading at a premium according to some valuation models. As the next earnings date approaches on November 5, 2024, stakeholders will be keen to see if the company's financials align with leadership's apparent confidence in its trajectory.
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