Analysts Expect 1st Constitution Bancorp (NASDAQ:FCCY) to Announce $0.39 Earnings Per Share

1st Constitution Bancorp (NASDAQ:FCCY) has been given a consensus broker rating score of 1.67 (Buy) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and two have given a strong buy rating to the company. 1st Constitution Bancorp’s rating score has improved by 44.3% from 90 days ago as a result of various analysts’ upgrades and downgrades.

Brokers have set a one year consensus price objective of $21.75 for the company and are forecasting that the company will post $0.39 EPS for the current quarter, according to Zacks. Zacks has also assigned 1st Constitution Bancorp an industry rank of 156 out of 256 based on the ratings given to related companies.

Several research analysts have weighed in on the company. ValuEngine upgraded The Western Union from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. Zacks Investment Research downgraded Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, June 26th. Sandler O’Neill assumed coverage on 1st Constitution Bancorp in a research note on Thursday, May 23rd. They issued a “buy” rating and a $21.50 target price on the stock. Finally, DA Davidson assumed coverage on WillScot in a research note on Tuesday, June 25th. They issued a “buy” rating and a $19.00 target price on the stock.

Several hedge funds have recently made changes to their positions in FCCY. SG Americas Securities LLC purchased a new stake in shares of 1st Constitution Bancorp in the first quarter valued at approximately $113,000. Geode Capital Management LLC boosted its stake in shares of 1st Constitution Bancorp by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 72,627 shares of the financial services provider’s stock valued at $1,447,000 after buying an additional 4,432 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of 1st Constitution Bancorp by 2.2% in the first quarter. Acadian Asset Management LLC now owns 42,664 shares of the financial services provider’s stock valued at $758,000 after buying an additional 918 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of 1st Constitution Bancorp by 86.0% in the fourth quarter. Bank of America Corp DE now owns 5,756 shares of the financial services provider’s stock valued at $115,000 after buying an additional 2,662 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in shares of 1st Constitution Bancorp by 4.5% in the fourth quarter. BlackRock Inc. now owns 366,479 shares of the financial services provider’s stock valued at $7,305,000 after buying an additional 15,829 shares in the last quarter. Institutional investors own 34.39% of the company’s stock.

FCCY traded down $0.05 during trading on Friday, hitting $18.24. 100 shares of the stock were exchanged, compared to its average volume of 17,599. The company has a market cap of $158.15 million, a price-to-earnings ratio of 11.69, a P/E/G ratio of 1.45 and a beta of 0.21. 1st Constitution Bancorp has a 1-year low of $16.45 and a 1-year high of $23.45. The company’s fifty day simple moving average is $18.51. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.43.

1st Constitution Bancorp (NASDAQ:FCCY) last released its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.36 by $0.03. The company had revenue of $13.09 million for the quarter, compared to analyst estimates of $13.18 million. 1st Constitution Bancorp had a return on equity of 10.98% and a net margin of 20.23%. On average, analysts forecast that 1st Constitution Bancorp will post 1.58 EPS for the current fiscal year.

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, coastal, and northeastern areas of New Jersey. The company offers deposit products, including interest bearing demand deposits, such as interest-bearing checking accounts, money market accounts, and negotiable order of withdrawal accounts; and non-interest bearing demand, savings, and time deposits, as well as certificates of deposit.

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