Shares of 1st Constitution Bancorp (NASDAQ:FCCY) have been given an average broker rating score of 3.00 (Hold) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating.
Brokerages have set a twelve-month consensus target price of $21.00 for the company and are predicting that the company will post $0.41 EPS for the current quarter, according to Zacks. Zacks has also assigned 1st Constitution Bancorp an industry rank of 151 out of 255 based on the ratings given to its competitors.
A number of research analysts recently commented on FCCY shares. ValuEngine downgraded shares of 1st Constitution Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, August 28th. 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 research report on Tuesday, July 24th.
Several hedge funds and other institutional investors have recently bought and sold shares of FCCY. BlackRock Inc. grew its position in shares of 1st Constitution Bancorp by 1,154.0% in the 2nd quarter. BlackRock Inc. now owns 339,511 shares of the financial services provider’s stock valued at $7,775,000 after buying an additional 312,436 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of 1st Constitution Bancorp by 75.7% in the 2nd quarter. Renaissance Technologies LLC now owns 142,000 shares of the financial services provider’s stock valued at $3,252,000 after buying an additional 61,200 shares during the last quarter. Northern Trust Corp grew its position in shares of 1st Constitution Bancorp by 475.9% in the 2nd quarter. Northern Trust Corp now owns 73,033 shares of the financial services provider’s stock valued at $1,672,000 after buying an additional 60,351 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of 1st Constitution Bancorp by 436.8% in the 2nd quarter. Acadian Asset Management LLC now owns 40,552 shares of the financial services provider’s stock valued at $928,000 after buying an additional 32,998 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of 1st Constitution Bancorp in the 2nd quarter valued at $622,000. 34.82% of the stock is currently owned by hedge funds and other institutional investors.
Shares of FCCY traded down $0.28 during midday trading on Monday, reaching $19.85. The stock had a trading volume of 13,638 shares, compared to its average volume of 19,470. 1st Constitution Bancorp has a 1-year low of $16.15 and a 1-year high of $27.00. The firm has a market capitalization of $169.43 million, a price-to-earnings ratio of 18.73, a PEG ratio of 1.59 and a beta of 0.41. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 1.14.
1st Constitution Bancorp (NASDAQ:FCCY) last posted its earnings results on Friday, October 19th. The financial services provider reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.07. The firm had revenue of $13.55 million for the quarter, compared to the consensus estimate of $13.28 million. 1st Constitution Bancorp had a net margin of 16.34% and a return on equity of 10.96%. On average, analysts predict that 1st Constitution Bancorp will post 1.59 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 22nd. Investors of record on Friday, November 9th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.51%. This is an increase from 1st Constitution Bancorp’s previous quarterly dividend of $0.06. The ex-dividend date is Thursday, November 8th. 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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