First Seacoast Bancorp authorizes additional buyback of up to 229K shares

Written by Emily J. Thompson, Senior Investment Analyst

Updated: Dec 12 2024

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FSEA-0.68%

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Share Repurchase Authorization: First Seacoast Bancorp has authorized an additional repurchase of up to 228,858 shares of common stock under its ongoing stock repurchase program, which originally included 507,707 shares announced in April 2024.
Current Repurchase Status: The company has already repurchased 397,008 shares at an average price of $9.15 per share, with the new authorization representing about 5% of pro forma outstanding shares after accounting for the remaining shares from the original plan.

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About FSEA

First Seacoast Bancorp, Inc. is the savings and loan holding company for First Seacoast Bank (the Bank). The Bank’s business consists primarily of taking deposits from the public and investing those deposits, together with funds generated from operations and borrowings from the Federal Home Loan Bank, in one- to-four-family residential real estate loans, commercial real estate and multifamily real estate loans, acquisition, development and land loans, commercial and industrial loans, home equity loans and lines of credit and consumer loans. It offers investment management services through FSB Wealth Management. FSB Wealth Management is a division of the Bank. FSB Wealth Management provides access to non-Federal Deposit and Insurance Corporation (FDIC) insured products that include retirement planning, portfolio management, investment and insurance strategies, business retirement plans and college planning to individuals throughout its primary market area.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

First Seacoast Bancorp, Inc. Authorizes Additional Share Repurchases Under Ongoing Stock Repurchase Program

Dec 12 2024Newsfilter

Share Repurchase Authorization: First Seacoast Bancorp, Inc. has authorized the repurchase of an additional 228,858 shares of common stock, on top of the previously announced 507,707 shares, with a total of 397,008 shares already repurchased at an average price of $9.15 per share.
Market Conditions and Future Plans: The company plans to conduct these repurchases in the open market under SEC Rule 10b5-1, with the authorization set to expire on December 3, 2025, while noting that actual repurchases may vary based on market conditions.

FSEA Stock Earnings: First Seacoast Bancorp Reported Results for Q2 2024

Aug 09 2024Business Insider

Earnings Report: First Seacoast Bancorp (NASDAQ:FSEA) reported earnings per share of 42 cents and revenue of $5.92 million for the second quarter of 2024.
Automated Coverage: InvestorPlace Earnings utilizes TradeSmith data to automate the reporting of quarterly earnings, providing quick access to key financial figures without human intervention.

FSEA Stock Earnings: First Seacoast Bancorp Reported Results for Q1 2024

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First Seacoast Bancorp, Inc. Authorizes Stock Repurchase Program

Apr 11 2024newsfilter

First Seacoast Bancorp authorizes stock repurchase program

Apr 11 2024SeekingAlpha

First Seacoast Bancorp, Inc. Authorizes Additional Share Repurchases Under Ongoing Stock Repurchase Program

Dec 12 2024Newsfilter

Share Repurchase Authorization: First Seacoast Bancorp, Inc. has authorized the repurchase of an additional 228,858 shares of common stock, on top of the previously announced 507,707 shares, with a total of 397,008 shares already repurchased at an average price of $9.15 per share.
Market Conditions and Future Plans: The company plans to conduct these repurchases in the open market under SEC Rule 10b5-1, with the authorization set to expire on December 3, 2025, while noting that actual repurchases may vary based on market conditions.

FSEA Stock Earnings: First Seacoast Bancorp Reported Results for Q2 2024

Aug 09 2024Business Insider

Earnings Report: First Seacoast Bancorp (NASDAQ:FSEA) reported earnings per share of 42 cents and revenue of $5.92 million for the second quarter of 2024.
Automated Coverage: InvestorPlace Earnings utilizes TradeSmith data to automate the reporting of quarterly earnings, providing quick access to key financial figures without human intervention.