1st Constitution Bancorp (FCCY) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of 1st Constitution Bancorp (NASDAQ:FCCY) from a hold rating to a sell rating in a research report report published on Friday morning, Zacks.com reports.

According to Zacks, “1st Constitution Bancorp occupies an enviable position as one of New Jersey’s few independent community banks. Dramatically improved earnings and growth, a strong capital base, and a dynamic management, combined to propel 1st Constitution Bank full speed ahead amid the changing tides in the banking industry. 1st Constitution Bank is a community oriented bank serving Central New Jersey. “

Separately, ValuEngine downgraded 1st Constitution Bancorp from a hold rating to a sell rating in a research note on Monday, February 25th.

Shares of 1st Constitution Bancorp stock opened at $18.48 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.94 and a quick ratio of 0.93. The stock has a market cap of $157.41 million, a PE ratio of 11.85, a price-to-earnings-growth ratio of 1.41 and a beta of 0.22. 1st Constitution Bancorp has a 1-year low of $16.45 and a 1-year high of $27.00.

1st Constitution Bancorp (NASDAQ:FCCY) last announced its earnings results on Thursday, January 31st. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.03). The business had revenue of $13.18 million for the quarter, compared to analyst estimates of $13.48 million. 1st Constitution Bancorp had a net margin of 20.28% and a return on equity of 11.08%. On average, analysts predict that 1st Constitution Bancorp will post 1.63 EPS for the current fiscal year.

In related news, EVP John T. Andreacio sold 1,914 shares of 1st Constitution Bancorp stock in a transaction dated Wednesday, February 6th. The stock was sold at an average price of $19.02, for a total value of $36,404.28. Following the completion of the transaction, the executive vice president now directly owns 23,625 shares in the company, valued at $449,347.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.61% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its stake in 1st Constitution Bancorp by 86.0% in the fourth quarter. Bank of America Corp DE now owns 5,756 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 2,662 shares in the last quarter. Bessemer Group Inc. grew its stake in 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 worth $173,000 after purchasing an additional 1,800 shares in the last quarter. First Trust Advisors LP acquired a new position in 1st Constitution Bancorp in the fourth quarter worth about $223,000. Martingale Asset Management L P acquired a new position in 1st Constitution Bancorp in the third quarter worth about $249,000. Finally, Roundview Capital LLC acquired a new position in 1st Constitution Bancorp in the fourth quarter worth about $290,000. Institutional investors and hedge funds own 35.56% 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 and northeastern New Jersey areas. The company offers deposit products, including interest bearing demand deposits, such as interest-bearing checking accounts, money market accounts, and NOW accounts; and non-interest bearing demand, savings, and time deposits, as well as certificates of deposit.

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