1st Constitution Bancorp (NASDAQ:FCCY) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of 1st Constitution Bancorp (NASDAQ:FCCY) from a buy rating to a hold rating in a report published on Monday, Zacks.com reports.

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 upgraded shares of 1st Constitution Bancorp from a sell rating to a hold rating in a research report on Wednesday, March 18th.

FCCY stock opened at $13.30 on Monday. The company has a fifty day moving average price of $17.58 and a 200 day moving average price of $19.51. 1st Constitution Bancorp has a 12 month low of $10.32 and a 12 month high of $22.91. The company has a market cap of $126.40 million, a price-to-earnings ratio of 7.39 and a beta of 0.40. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.96 and a quick ratio of 0.95.

1st Constitution Bancorp (NASDAQ:FCCY) last released its quarterly earnings results on Friday, January 31st. The financial services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.38 by $0.05. 1st Constitution Bancorp had a net margin of 19.95% and a return on equity of 10.40%. The firm had revenue of $15.15 million during the quarter, compared to the consensus estimate of $14.57 million. As a group, analysts anticipate that 1st Constitution Bancorp will post 1.71 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Friday, February 14th were given a dividend of $0.09 per share. The ex-dividend date was Thursday, February 13th. This represents a $0.36 dividend on an annualized basis and a yield of 2.71%. This is an increase from 1st Constitution Bancorp’s previous quarterly dividend of $0.08. 1st Constitution Bancorp’s dividend payout ratio is presently 21.43%.

In other news, Director William M. Rue acquired 4,000 shares of the business’s stock in a transaction on Monday, March 9th. The stock was bought at an average price of $16.97 per share, for a total transaction of $67,880.00. Following the transaction, the director now owns 209,946 shares in the company, valued at $3,562,783.62. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John T. Andreacio acquired 5,000 shares of the business’s stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $19.53 per share, with a total value of $97,650.00. The disclosure for this purchase can be found here. 14.61% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the company. Gateway Advisory LLC acquired a new position in shares of 1st Constitution Bancorp during the 4th quarter worth $1,549,000. Rhumbline Advisers grew its stake in shares of 1st Constitution Bancorp by 12.0% during the 3rd quarter. Rhumbline Advisers now owns 11,374 shares of the financial services provider’s stock worth $213,000 after purchasing an additional 1,215 shares during the period. Russell Investments Group Ltd. grew its stake in shares of 1st Constitution Bancorp by 1,217.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 7,982 shares of the financial services provider’s stock worth $150,000 after purchasing an additional 7,376 shares during the period. Siena Capital Partners GP LLC grew its stake in shares of 1st Constitution Bancorp by 17.1% during the 4th quarter. Siena Capital Partners GP LLC now owns 152,656 shares of the financial services provider’s stock worth $3,378,000 after purchasing an additional 22,246 shares during the period. Finally, State Street Corp grew its stake in shares of 1st Constitution Bancorp by 10.7% during the 4th quarter. State Street Corp now owns 129,810 shares of the financial services provider’s stock worth $2,873,000 after purchasing an additional 12,521 shares during the period. 37.37% of the stock is currently owned by institutional investors and hedge funds.

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, 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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