DOVER, N.H.—James R. Brannen, President and CEO of First Seacoast Bancorp, Inc. (NASDAQ:FSEA), recently acquired 500 shares of the company's common stock, according to a recent SEC filing. The shares were purchased at an average price of $9.1858, amounting to a total transaction value of $4,592.
Following this purchase, Brannen's direct ownership in First Seacoast Bancorp now totals 15,537 shares. In addition to his direct holdings, Brannen also maintains indirect ownership through various accounts, including 9,179 shares via an IRA, 4,275 shares through a 401(k), and 2,875 shares via an ESOP.
This transaction reflects Brannen's continued investment in the company he leads, as he manages First Seacoast Bancorp's strategic direction and operations.
InvestingPro Insights
James R. Brannen's recent purchase of First Seacoast Bancorp (NASDAQ:FSEA) shares aligns with a broader trend of management's commitment to the company. According to InvestingPro Tips, management has been aggressively buying back shares, which often signals confidence in the company's future prospects.
Despite this show of faith, FSEA faces some challenges. The company is not profitable over the last twelve months and suffers from weak gross profit margins, as highlighted by InvestingPro Tips. This context adds depth to Brannen's decision to increase his stake, suggesting he may see potential for improvement in the company's financial performance.
Real-time data from InvestingPro reveals that FSEA's market capitalization stands at $40.46 million, with a price-to-book ratio of 0.61 as of the last twelve months ending Q3 2024. This relatively low P/B ratio could indicate that the stock is undervalued, potentially explaining management's share buybacks and Brannen's personal investment.
It's worth noting that FSEA has shown a year-to-date price total return of 17.43% and a one-year price total return of 39.78%, suggesting positive momentum despite the profitability challenges. These metrics provide additional context to Brannen's decision to increase his holdings.
For investors seeking a more comprehensive analysis, InvestingPro offers 12 additional tips for FSEA, providing a deeper understanding of the company's financial health and market position.
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