First Seacoast Bancorp Inc. (NASDAQ:FSEA) Sees Significant Drop in Short Interest

Key Points

• First Seacoast Bancorp Inc. (NASDAQ:FSEA) experienced a 66.2% decline in short interest in September, dropping from 15,700 to 5,300 shares.
• The company reported a negative earnings per share of ($0.13) for the last quarter, alongside a negative net margin of 9.05% and a return on equity of -4.02%.
• Hedge fund Polaris Capital Management LLC increased its stake in First Seacoast Bancorp by 28.2%, owning approximately 1.92% of the company after buying additional shares.

First Seacoast Bancorp Inc. (NASDAQ:FSEA - Get Free Report) was the target of a significant decline in short interest in September. As of September 30th, there was short interest totaling 5,300 shares, a decline of 66.2% from the September 15th total of 15,700 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily volume of 4,100 shares, the short-interest ratio is currently 1.3 days. Based on an average daily volume of 4,100 shares, the short-interest ratio is currently 1.3 days. Currently, 0.2% of the shares of the stock are short sold.

First Seacoast Bancorp Stock Performance

NASDAQ:FSEA opened at $11.50 on Friday. First Seacoast Bancorp has a 1-year low of $9.00 and a 1-year high of $11.95. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market capitalization of $54.05 million, a price-to-earnings ratio of -20.18 and a beta of 0.18. The company's 50-day moving average is $11.52 and its two-hundred day moving average is $11.31.

First Seacoast Bancorp (NASDAQ:FSEA - Get Free Report) last released its earnings results on Friday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter. First Seacoast Bancorp had a negative net margin of 9.05% and a negative return on equity of 4.02%. The company had revenue of $3.88 million during the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of First Seacoast Bancorp in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of "Sell".

Hedge Funds Weigh In On First Seacoast Bancorp

An institutional investor recently raised its position in First Seacoast Bancorp stock. Polaris Capital Management LLC increased its stake in shares of First Seacoast Bancorp Inc. (NASDAQ:FSEA - Free Report) by 28.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 90,537 shares of the company's stock after buying an additional 19,900 shares during the period. Polaris Capital Management LLC owned about 1.92% of First Seacoast Bancorp worth $1,031,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 38.38% of the company's stock.

About First Seacoast Bancorp

First Seacoast Bancorp, Inc operates as the holding company for First Seacoast Bank that provides commercial and consumer banking services for individuals and businesses. The company offers interest-bearing and non-interest-bearing checking, savings, and money market accounts, as well as time deposits.

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