First Choice Bancorp (NASDAQ:FCBP) Cut to Sell at ValuEngine

First Choice Bancorp (NASDAQ:FCBP) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Thursday, ValuEngine reports.

Shares of FCBP opened at $21.08 on Thursday. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 0.06. First Choice Bancorp has a 1 year low of $18.57 and a 1 year high of $33.30.

First Choice Bancorp (NASDAQ:FCBP) last issued its earnings results on Monday, April 29th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.04. The business had revenue of $21.31 million during the quarter. First Choice Bancorp had a return on equity of 10.59% and a net margin of 24.65%.

In other news, Chairman Peter Hui bought 6,949 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was acquired at an average price of $21.70 per share, with a total value of $150,793.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders acquired 8,921 shares of company stock valued at $193,532.

Hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA lifted its position in First Choice Bancorp by 450.1% in the first quarter. BNP Paribas Arbitrage SA now owns 1,909 shares of the company’s stock valued at $41,000 after purchasing an additional 1,562 shares during the last quarter. Acadian Asset Management LLC bought a new stake in First Choice Bancorp in the fourth quarter valued at approximately $57,000. Metropolitan Life Insurance Co. NY bought a new stake in First Choice Bancorp in the fourth quarter valued at approximately $75,000. MetLife Investment Advisors LLC bought a new stake in First Choice Bancorp in the fourth quarter valued at approximately $103,000. Finally, Bank of America Corp DE lifted its position in First Choice Bancorp by 49.2% in the fourth quarter. Bank of America Corp DE now owns 7,431 shares of the company’s stock valued at $168,000 after purchasing an additional 2,449 shares during the last quarter. Hedge funds and other institutional investors own 28.04% of the company’s stock.

First Choice Bancorp Company Profile

First Choice Bancorp operates as the bank holding company for First Choice Bank that provides retail, personal, and commercial banking products and services to individuals, families, and small and medium-sized businesses. It offers interest and noninterest-bearing demand deposit, money market and savings accounts, remote deposit products, and time certificates of deposit; and loan products, such as construction and land development, residential real estate, commercial real estate, commercial and industrial, and small business administration (SBA) and consumer loans, as well as startup funds to entrepreneurs.

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