1st Constitution Bancorp (NASDAQ:FCCY) Director Carmen M. Penta acquired 500 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The shares were purchased at an average price of $21.80 per share, with a total value of $10,900.00. Following the transaction, the director now owns 6,998 shares of the company’s stock, valued at $152,556.40. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.
FCCY traded up $0.30 on Friday, hitting $20.60. The company had a trading volume of 10,118 shares, compared to its average volume of 10,460. The firm has a market cap of $168.84 million, a P/E ratio of 15.27, a P/E/G ratio of 1.73 and a beta of 0.36. 1st Constitution Bancorp has a 12-month low of $16.15 and a 12-month high of $27.00. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 1.14.
1st Constitution Bancorp (NASDAQ:FCCY) last released its quarterly earnings results on Friday, July 20th. The financial services provider reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.04. The company had revenue of $13.06 million during the quarter, compared to analyst estimates of $13.22 million. 1st Constitution Bancorp had a return on equity of 9.71% and a net margin of 14.43%. research analysts forecast that 1st Constitution Bancorp will post 1.46 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 23rd. Investors of record on Friday, August 10th were given a $0.06 dividend. The ex-dividend date was Thursday, August 9th. This represents a $0.24 annualized dividend and a yield of 1.17%. 1st Constitution Bancorp’s dividend payout ratio is currently 22.64%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN grew its position in 1st Constitution Bancorp by 174.3% in the fourth quarter. Wells Fargo & Company MN now owns 6,208 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 3,945 shares in the last quarter. ZPR Investment Management purchased a new position in 1st Constitution Bancorp in the first quarter worth about $276,000. Millennium Management LLC purchased a new position in 1st Constitution Bancorp in the first quarter worth about $313,000. Schwab Charles Investment Management Inc. purchased a new position in 1st Constitution Bancorp in the second quarter worth about $321,000. Finally, Bank of New York Mellon Corp purchased a new position in 1st Constitution Bancorp in the second quarter worth about $622,000. Institutional investors own 34.82% of the company’s stock.
A number of research analysts have recently weighed in on the company. ValuEngine upgraded 1st Constitution Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, August 3rd. Zacks Investment Research upgraded 1st Constitution Bancorp from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Tuesday, July 24th.
About 1st Constitution Bancorp
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.
Further Reading: Understanding Average Daily Trade Volume
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