First Choice Bancorp (NASDAQ:FCBP) Short Interest Update

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.

Large investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in shares of First Choice Bancorp by 3.7% in the fourth quarter. BlackRock Inc. now owns 446,587 shares of the company’s stock valued at $10,093,000 after buying an additional 16,061 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of First Choice Bancorp by 86.4% in the fourth quarter. Bank of New York Mellon Corp now owns 49,184 shares of the company’s stock valued at $1,111,000 after buying an additional 22,795 shares in the last quarter. Northern Trust Corp increased its stake in shares of First Choice Bancorp by 12.3% in the fourth quarter. Northern Trust Corp now owns 86,272 shares of the company’s stock valued at $1,949,000 after buying an additional 9,474 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of First Choice Bancorp by 158.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 39,071 shares of the company’s stock valued at $883,000 after buying an additional 23,946 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of First Choice Bancorp by 9.4% in the fourth quarter. Geode Capital Management LLC now owns 72,822 shares of the company’s stock valued at $1,645,000 after buying an additional 6,259 shares in the last quarter. Institutional investors and hedge funds own 28.04% of the company’s stock.

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.

Featured Story: Technical Indicators – What is a Golden Cross?

Receive News & Ratings for First Choice Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Choice Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.