1st Constitution Bancorp (NASDAQ:FCCY) has been assigned a consensus broker rating score of 3.00 (Hold) from the two brokers that cover the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold recommendation.
Analysts have set a 1 year consensus target price of $22.00 for the company and are expecting that the company will post $0.39 EPS for the current quarter, according to Zacks. Zacks has also given 1st Constitution Bancorp an industry rank of 150 out of 255 based on the ratings given to its competitors.
Several analysts recently weighed in on FCCY shares. ValuEngine raised shares of 1st Constitution Bancorp from a “hold” rating to a “buy” rating in a report on Friday, August 3rd. Zacks Investment Research raised shares of 1st Constitution Bancorp from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Tuesday, July 24th.
In other news, Director James G. Aaron bought 5,000 shares of 1st Constitution Bancorp stock in a transaction that occurred on Friday, July 27th. The shares were purchased at an average price of $22.22 per share, with a total value of $111,100.00. Following the completion of the acquisition, the director now directly owns 9,525 shares in the company, valued at $211,645.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 14.61% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp acquired a new stake in 1st Constitution Bancorp in the second quarter valued at approximately $622,000. Renaissance Technologies LLC raised its holdings in 1st Constitution Bancorp by 75.7% during the second quarter. Renaissance Technologies LLC now owns 142,000 shares of the financial services provider’s stock worth $3,252,000 after purchasing an additional 61,200 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in 1st Constitution Bancorp by 10.1% during the second quarter. Dimensional Fund Advisors LP now owns 192,603 shares of the financial services provider’s stock worth $4,411,000 after purchasing an additional 17,668 shares in the last quarter. BlackRock Inc. raised its holdings in 1st Constitution Bancorp by 1,154.0% during the second quarter. BlackRock Inc. now owns 339,511 shares of the financial services provider’s stock worth $7,775,000 after purchasing an additional 312,436 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. acquired a new stake in 1st Constitution Bancorp during the second quarter worth approximately $321,000. 34.82% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:FCCY opened at $20.30 on Friday. The company has a market capitalization of $173.45 million, a P/E ratio of 19.15, a PEG ratio of 1.77 and a beta of 0.36. 1st Constitution Bancorp has a fifty-two week low of $16.15 and a fifty-two week high of $27.00. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.95 and a current ratio of 0.96.
1st Constitution Bancorp (NASDAQ:FCCY) last issued its earnings results on Friday, July 20th. The financial services provider reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.04. The firm had revenue of $13.06 million for the quarter, compared to analysts’ expectations of $13.22 million. 1st Constitution Bancorp had a net margin of 14.43% and a return on equity of 9.71%. analysts predict that 1st Constitution Bancorp will post 1.46 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 23rd. Investors of record on Friday, August 10th were issued a $0.06 dividend. The ex-dividend date was Thursday, August 9th. This represents a $0.24 annualized dividend and a yield of 1.18%. 1st Constitution Bancorp’s dividend payout ratio (DPR) is 22.64%.
1st Constitution Bancorp Company Profile
1st Constitution Bancorp operates as the bank holding company for 1st Constitution Bank that provides commercial and retail banking services in the central and northeastern New Jersey areas. The company offers deposit products, including interest bearing demand deposits, such as interest-bearing checking accounts, money market accounts, and NOW accounts; and non-interest bearing demand, savings, and time deposits, as well as certificates of deposit.
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