Analysts expect 1st Constitution Bancorp (NASDAQ:FCCY) to report earnings of $0.40 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for 1st Constitution Bancorp’s earnings, with estimates ranging from $0.39 to $0.41. 1st Constitution Bancorp posted earnings per share of $0.46 during the same quarter last year, which indicates a negative year over year growth rate of 13%. The company is expected to announce its next earnings report on Friday, October 18th.
On average, analysts expect that 1st Constitution Bancorp will report full year earnings of $1.60 per share for the current year. For the next financial year, analysts expect that the firm will report earnings of $1.78 per share, with EPS estimates ranging from $1.70 to $1.85. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover 1st Constitution Bancorp.
1st Constitution Bancorp (NASDAQ:FCCY) last released its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.01. 1st Constitution Bancorp had a net margin of 22.00% and a return on equity of 11.00%. The business had revenue of $13.60 million for the quarter, compared to analyst estimates of $13.48 million.
A number of equities research analysts have recently issued reports on FCCY shares. Zacks Investment Research upgraded shares of 1st Constitution Bancorp from a “hold” rating to a “strong-buy” rating and set a $20.00 price target on the stock in a report on Wednesday, June 26th. DA Davidson downgraded shares of 1st Constitution Bancorp from a “buy” rating to a “neutral” rating and set a $18.09 price objective on the stock. in a research report on Tuesday, June 25th. Finally, Sandler O’Neill assumed coverage on shares of 1st Constitution Bancorp in a research report on Thursday, May 23rd. They set a “buy” rating and a $21.50 price objective on the stock.
In related news, insider John T. Andreacio sold 5,916 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $17.92, for a total transaction of $106,014.72. Following the transaction, the insider now directly owns 15,795 shares of the company’s stock, valued at $283,046.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 14.61% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in FCCY. Dimensional Fund Advisors LP grew its position in 1st Constitution Bancorp by 8.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 224,470 shares of the financial services provider’s stock valued at $4,474,000 after purchasing an additional 17,414 shares in the last quarter. BlackRock Inc. grew its position in 1st Constitution Bancorp by 4.5% during the fourth quarter. BlackRock Inc. now owns 366,479 shares of the financial services provider’s stock valued at $7,305,000 after purchasing an additional 15,829 shares in the last quarter. Acadian Asset Management LLC grew its position in 1st Constitution Bancorp by 16.6% during the second quarter. Acadian Asset Management LLC now owns 49,734 shares of the financial services provider’s stock valued at $919,000 after purchasing an additional 7,070 shares in the last quarter. Renaissance Technologies LLC grew its position in 1st Constitution Bancorp by 6.4% during the second quarter. Renaissance Technologies LLC now owns 110,100 shares of the financial services provider’s stock valued at $2,034,000 after purchasing an additional 6,591 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in 1st Constitution Bancorp during the first quarter valued at approximately $113,000. 34.46% of the stock is currently owned by hedge funds and other institutional investors.
Shares of FCCY stock traded up $0.66 during trading hours on Friday, reaching $17.45. 18,200 shares of the stock traded hands, compared to its average volume of 10,590. 1st Constitution Bancorp has a 1-year low of $16.45 and a 1-year high of $22.65. The business has a fifty day moving average price of $17.92 and a 200 day moving average price of $18.42. The company has a quick ratio of 0.88, a current ratio of 0.97 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $145.30 million, a PE ratio of 11.19, a PEG ratio of 1.31 and a beta of 0.21.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 12th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Friday, August 9th. 1st Constitution Bancorp’s payout ratio is presently 19.23%.
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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