James R. Brannen, the President and CEO of First Seacoast Bancorp, Inc. (NASDAQ:FSEA), has recently made a notable purchase of the company's common stock. On May 15, Brannen acquired 500 shares at a price of $9.1182 per share, totaling an investment of approximately $4,560. This transaction has increased his direct ownership in the company to 14,537 shares.
Brannen's purchase comes amidst the company's ongoing efforts to strengthen its market position. First Seacoast Bancorp, headquartered in Dover (NYSE:DOV), New Hampshire, operates as a federally chartered savings institution and is known for providing various banking products and services to individuals and businesses.
The reported acquisition reflects confidence in the company's future performance and growth potential. Investors often view stock purchases by top executives as a positive sign that the leadership has a vested interest in the company's success.
In addition to his direct holdings, Brannen has indirect ownership through an Individual Retirement Account (IRA) with 9,179 shares and a 401(k) with 4,275 shares. Furthermore, he has an Employee Stock Ownership Plan (ESOP) holding 2,875 shares. It should be noted that transactions not required to be reported pursuant to Section 16 of the Securities Act of 1934, as amended, are reflected in these indirect holdings.
The CEO's involvement with the company is not just limited to stock ownership. According to the footnotes in the filing, Brannen also holds stock options that are set to vest at a rate of 33 1/3% per year starting from May 25, 2024.
Investors and market watchers often scrutinize Form 4 filings for insights into executives' perspectives on their company's stock. Brannen's recent purchase may thus be interpreted as a reaffirmation of his commitment to First Seacoast Bancorp and its shareholders.
InvestingPro Insights
As James R. Brannen increases his stake in First Seacoast Bancorp, Inc. (NASDAQ:FSEA), investors may want to consider the broader financial context of the company. According to InvestingPro data, First Seacoast Bancorp's market capitalization stands at $42.99 million. The company's Price to Earnings (P/E) ratio is currently negative at -3.47, reflecting its lack of profitability over the last twelve months, as highlighted by an InvestingPro Tip. Additionally, the firm's Price to Book ratio for the same period is 0.66, which could suggest that the stock is potentially undervalued relative to its assets.
InvestingPro Tips also point out that First Seacoast Bancorp is trading near its 52-week high, with a price that is 99.24% of this peak. This aligns with the company's noteworthy price uptick over the last six months, which has seen a total return of 36.92%. Despite this strong recent performance, the company does not pay a dividend to shareholders.
For those looking to delve deeper into First Seacoast Bancorp's financials and potentially uncover more insights, InvestingPro offers additional tips. By using the coupon code PRONEWS24, readers can get an extra 10% off a yearly or biyearly Pro and Pro+ subscription. With these resources, investors can gain a more comprehensive understanding of the company's financial health and future prospects.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.