1st Constitution Bancorp (NASDAQ:FCCY) Receives Consensus Recommendation of “Buy” from Analysts

Shares of 1st Constitution Bancorp (NASDAQ:FCCY) have earned an average broker rating score of 2.33 (Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. 1st Constitution Bancorp’s rating score has improved by 22.3% in the last 90 days as a result of a number of analysts’ ratings changes.

Brokerages have set a twelve-month consensus price objective of $21.25 for the company and are forecasting that the company will post $0.40 EPS for the current quarter, according to Zacks. Zacks has also given 1st Constitution Bancorp an industry rank of 167 out of 256 based on the ratings given to its competitors.

A number of research analysts have recently weighed in on the company. Zacks Investment Research lowered 1st Constitution Bancorp from a “hold” rating to a “sell” rating in a report on Monday, May 6th. Sandler O’Neill assumed coverage on 1st Constitution Bancorp in a report on Thursday, May 23rd. They issued a “buy” rating and a $21.50 target price on the stock. Finally, ValuEngine lowered 1st Constitution Bancorp from a “hold” rating to a “sell” rating in a report on Monday, February 25th.

FCCY stock opened at $18.81 on Wednesday. 1st Constitution Bancorp has a twelve month low of $16.45 and a twelve month high of $27.00. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $163.67 million, a PE ratio of 12.06, a P/E/G ratio of 1.51 and a beta of 0.24.

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

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 13th were issued a dividend of $0.075 per share. The ex-dividend date was Friday, May 10th. This represents a $0.30 dividend on an annualized basis and a yield of 1.59%. 1st Constitution Bancorp’s dividend payout ratio (DPR) is currently 19.23%.

Institutional investors have recently modified their holdings of the stock. Martingale Asset Management L P raised its stake in shares of 1st Constitution Bancorp by 5.0% in the fourth quarter. Martingale Asset Management L P now owns 12,606 shares of the financial services provider’s stock valued at $252,000 after buying an additional 600 shares during the period. Acadian Asset Management LLC raised 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 during the period. Bank of New York Mellon Corp raised its stake in shares of 1st Constitution Bancorp by 4.2% in the fourth quarter. Bank of New York Mellon Corp now owns 28,503 shares of the financial services provider’s stock valued at $568,000 after buying an additional 1,161 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of 1st Constitution Bancorp by 524.5% in the first quarter. BNP Paribas Arbitrage SA now owns 1,580 shares of the financial services provider’s stock valued at $28,000 after buying an additional 1,327 shares during the period. Finally, Bessemer Group Inc. raised its stake in shares of 1st Constitution Bancorp by 26.1% in the fourth quarter. Bessemer Group Inc. now owns 8,700 shares of the financial services provider’s stock valued at $173,000 after buying an additional 1,800 shares during the period. Institutional investors and hedge funds own 34.39% of the company’s stock.

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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