Siena Capital Partners GP LLC Grows Position in 1st Constitution Bancorp (NASDAQ:FCCY)

Siena Capital Partners GP LLC lifted its holdings in shares of 1st Constitution Bancorp (NASDAQ:FCCY) by 3.7% in the second quarter, HoldingsChannel.com reports. The firm owned 129,849 shares of the financial services provider’s stock after acquiring an additional 4,651 shares during the quarter. Siena Capital Partners GP LLC’s holdings in 1st Constitution Bancorp were worth $2,398,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FCCY. BNP Paribas Arbitrage SA raised its position in 1st Constitution Bancorp by 524.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,580 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 1,327 shares in the last quarter. Strs Ohio grew its stake in shares of 1st Constitution Bancorp by 61.9% in the 2nd quarter. Strs Ohio now owns 3,400 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 1,300 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of 1st Constitution Bancorp in the 1st quarter valued at approximately $113,000. Bank of America Corp DE grew its stake in shares of 1st Constitution Bancorp by 86.0% in the 4th quarter. Bank of America Corp DE now owns 5,756 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 2,662 shares during the last quarter. Finally, LSV Asset Management grew its stake in shares of 1st Constitution Bancorp by 12.1% in the 1st quarter. LSV Asset Management now owns 26,900 shares of the financial services provider’s stock valued at $478,000 after purchasing an additional 2,900 shares during the last quarter. Institutional investors and hedge funds own 34.46% of the company’s stock.

Shares of 1st Constitution Bancorp stock traded up $0.36 during trading on Tuesday, reaching $17.37. The company’s stock had a trading volume of 3,411 shares, compared to its average volume of 14,417. 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 has a 12-month low of $16.45 and a 12-month high of $23.45. The firm has a market capitalization of $152.02 million, a P/E ratio of 11.13, a P/E/G ratio of 1.38 and a beta of 0.21. The business’s 50 day simple moving average is $18.22.

1st Constitution Bancorp (NASDAQ:FCCY) last posted its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.01. 1st Constitution Bancorp had a return on equity of 11.17% and a net margin of 22.00%. The firm had revenue of $13.60 million for the quarter, compared to the consensus estimate of $13.48 million. Analysts predict that 1st Constitution Bancorp will post 1.6 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 12th will be paid a $0.075 dividend. The ex-dividend date is Friday, August 9th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.73%. 1st Constitution Bancorp’s dividend payout ratio (DPR) is presently 19.23%.

Several brokerages have weighed in on FCCY. Zacks Investment Research upgraded 1st Constitution Bancorp from a “hold” rating to a “strong-buy” rating and set a $20.00 target price on the stock in a research note on Wednesday, June 26th. DA Davidson downgraded 1st Constitution Bancorp from a “buy” rating to a “neutral” rating and set a $18.09 price target on the stock. in a research note on Tuesday, June 25th. Finally, Sandler O’Neill started coverage on 1st Constitution Bancorp in a research note on Thursday, May 23rd. They issued a “buy” rating and a $21.50 price target on the stock.

In related news, insider John T. Andreacio sold 5,916 shares of 1st Constitution Bancorp stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $17.92, for a total value of $106,014.72. Following the sale, the insider now directly owns 15,795 shares in the company, valued at $283,046.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 14.33% of the stock is owned by insiders.

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.

See Also: Dividend Yield

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Institutional Ownership by Quarter for 1st Constitution Bancorp (NASDAQ:FCCY)

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