First Choice Bancorp (NASDAQ:FCBP) was the target of a significant drop in short interest in the month of July. As of July 31st, there was short interest totalling 59,800 shares, a drop of 24.7% from the June 30th total of 79,400 shares. Based on an average daily volume of 17,400 shares, the short-interest ratio is currently 3.4 days. Currently, 0.6% of the company’s shares are sold short.
Separately, ValuEngine lowered First Choice Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, June 13th.
In other First Choice Bancorp news, Chairman Peter Hui bought 6,949 shares of the firm’s stock in a transaction that occurred 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Phillip Thong bought 7,210 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $21.24 per share, with a total value of $153,140.40. The disclosure for this purchase can be found here. Insiders have purchased 22,999 shares of company stock valued at $492,342 in the last ninety days. 15.14% of the stock is currently owned by insiders.
NASDAQ:FCBP traded up $0.88 on Tuesday, hitting $22.19. The stock had a trading volume of 40 shares, compared to its average volume of 15,108. The company’s fifty day moving average price is $22.22. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.07 and a current ratio of 1.08. First Choice Bancorp has a 52 week low of $18.57 and a 52 week high of $28.30.
First Choice Bancorp (NASDAQ:FCBP) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.04. The business had revenue of $21.16 million for the quarter. First Choice Bancorp had a return on equity of 10.48% and a net margin of 25.42%.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be issued a $0.20 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $0.80 annualized dividend and a yield of 3.61%.
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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