Zacks Investment Research downgraded shares of 1st Constitution Bancorp (NASDAQ:FCCY) from a buy rating to a hold rating in a research note released on Wednesday morning.
According to Zacks, “1st Constitution Bancorp occupies an enviable position as one of New Jersey’s few independent community banks. Dramatically improved earnings and growth, a strong capital base, and a dynamic management, combined to propel 1st Constitution Bank full speed ahead amid the changing tides in the banking industry. 1st Constitution Bank is a community oriented bank serving Central New Jersey. “
Separately, ValuEngine raised shares of 1st Constitution Bancorp from a buy rating to a strong-buy rating in a report on Monday, April 2nd.
Shares of 1st Constitution Bancorp stock opened at $21.75 on Wednesday. The firm has a market capitalization of $181.88, a price-to-earnings ratio of 20.52, a PEG ratio of 1.64 and a beta of 0.39. 1st Constitution Bancorp has a 12-month low of $16.15 and a 12-month high of $22.52. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.87 and a current ratio of 0.87.
1st Constitution Bancorp (NASDAQ:FCCY) last announced its quarterly earnings results on Friday, February 2nd. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The business had revenue of $11.74 million for the quarter, compared to analyst estimates of $11.54 million. 1st Constitution Bancorp had a net margin of 13.64% and a return on equity of 8.04%. research analysts expect that 1st Constitution Bancorp will post 1.33 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the business. Alliancebernstein L.P. grew its holdings in 1st Constitution Bancorp by 18.6% in the 4th quarter. Alliancebernstein L.P. now owns 220,333 shares of the financial services provider’s stock worth $4,032,000 after acquiring an additional 34,579 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in 1st Constitution Bancorp by 9.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 157,397 shares of the financial services provider’s stock worth $2,857,000 after acquiring an additional 13,934 shares during the last quarter. Salzhauer Michael boosted its stake in shares of 1st Constitution Bancorp by 6.4% during the 4th quarter. Salzhauer Michael now owns 112,028 shares of the financial services provider’s stock valued at $2,050,000 after purchasing an additional 6,774 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of 1st Constitution Bancorp by 9.8% during the 4th quarter. Renaissance Technologies LLC now owns 71,399 shares of the financial services provider’s stock valued at $1,307,000 after purchasing an additional 6,399 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of 1st Constitution Bancorp by 174.3% during the 4th quarter. Wells Fargo & Company MN now owns 6,208 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 3,945 shares in the last quarter. 27.32% of the stock is currently owned by institutional investors and hedge funds.
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About 1st Constitution Bancorp
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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