In a recent transaction, Dana C. Lynch, a director at First Seacoast Bancorp, Inc. (NASDAQ:FSEA), acquired shares of the company's common stock, demonstrating confidence in the financial institution. The purchase, which took place on May 20, 2024, involved 500 shares at a price of $9.3151 per share, amounting to a total investment of approximately $4,657.
This transaction has increased Lynch's direct holdings in First Seacoast Bancorp to 5,473 shares. Additionally, it was noted that Lynch has an indirect ownership through an IRA, holding 7,089 shares of common stock. Furthermore, Lynch has derivative holdings in the form of stock options, which upon exercise, would convert into 9,343 shares of common stock. These options are set to vest over time, beginning May 25, 2024, and are exercisable at a price of $8.0600 per share.
Investors often monitor insider transactions like these for insights into the sentiments of key executives and directors regarding the company's prospects. The latest filings indicate a positive stance from Lynch, as the purchase adds to an already substantial investment in First Seacoast Bancorp.
First Seacoast Bancorp, headquartered in Dover (NYSE:DOV), New Hampshire, operates as a federally chartered savings institution. The company's shares are traded on the NASDAQ Stock Market under the ticker symbol FSEA.
InvestingPro Insights
As Dana C. Lynch increases her stake in First Seacoast Bancorp, Inc. (NASDAQ:FSEA), investors may be curious about the company's financial health and market performance. According to InvestingPro data, First Seacoast Bancorp currently has a market capitalization of approximately $43.18 million. However, the company's financials reflect some challenges, with a negative P/E ratio of -3.49, indicating that it was not profitable over the last twelve months as of Q1 2024. In addition, the company's revenue has seen a significant decline, with a -48.65% change in the last twelve months as of Q1 2024. This is corroborated by an InvestingPro Tip highlighting that First Seacoast Bancorp suffers from weak gross profit margins.
Despite these financial metrics, the company's stock has experienced a large price uptick over the last six months, with a 41.95% total return in that period. This aligns with another InvestingPro Tip indicating that the stock is trading near its 52-week high, with the price at 97.14% of this peak. The current price, as of the previous close, was $9.17.
For those looking for more comprehensive analysis and insights, there are additional InvestingPro Tips available for First Seacoast Bancorp, which can be found by visiting https://www.investing.com/pro/FSEA. Interested readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking further valuable tips that can help in making informed investment decisions.
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