Mark P. Boulanger, a director at First Seacoast Bancorp, Inc. (NASDAQ:FSEA), recently acquired 1,000 shares of the company's common stock. The transaction, dated November 13, 2024, was executed at a price of $9.1931 per share, amounting to a total purchase value of $9,193. Following this acquisition, Boulanger holds 4,301 shares indirectly through an IRA. Additionally, he maintains direct ownership of 3,559 shares, which include restricted stock that vests annually, and an indirect holding of 4,000 shares through a trust.
InvestingPro Insights
Mark P. Boulanger's recent acquisition of First Seacoast Bancorp, Inc. (NASDAQ:FSEA) shares aligns with some interesting financial metrics and trends revealed by InvestingPro data. The company's stock is currently trading near its 52-week high, with a price at 96.42% of its peak. This suggests that investors, including insiders like Boulanger, may see potential value in the stock despite its recent strength.
InvestingPro data shows that FSEA's market capitalization stands at $41 million, with a price-to-book ratio of 0.62 as of the last twelve months ending Q3 2024. This relatively low P/B ratio could indicate that the stock is undervalued compared to its book value, potentially explaining Boulanger's decision to increase his stake.
However, it's worth noting that the company faces some challenges. An InvestingPro Tip highlights that FSEA is not profitable over the last twelve months, which is reflected in its negative P/E ratio of -4.65. Additionally, the company's revenue growth has been mixed, with a 16.38% decline over the last twelve months, but a 20.61% increase in the most recent quarter.
Interestingly, another InvestingPro Tip reveals that management has been aggressively buying back shares. This, combined with Boulanger's recent purchase, could signal confidence in the company's future prospects despite current profitability challenges.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights that could provide a deeper understanding of FSEA's financial position and outlook.
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