1st Constitution Bancorp (NASDAQ:FCCY) Short Interest Update

1st Constitution Bancorp (NASDAQ:FCCY) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 51,400 shares, a growth of 8.7% from the June 30th total of 47,300 shares. Based on an average trading volume of 10,600 shares, the short-interest ratio is presently 4.8 days. Approximately 0.7% of the shares of the stock are short sold.

A number of brokerages recently commented on FCCY. Zacks Investment Research upgraded shares of 1st Constitution Bancorp from a “hold” rating to a “strong-buy” rating and set a $20.00 target price on the stock in a research report on Wednesday, June 26th. DA Davidson cut shares of 1st Constitution Bancorp from a “buy” rating to a “neutral” rating and set a $18.09 target price on the stock. in a research report on Tuesday, June 25th. Finally, Sandler O’Neill began coverage on shares of 1st Constitution Bancorp in a research report on Thursday, May 23rd. They issued a “buy” rating and a $21.50 target price on the stock.

In other news, insider John T. Andreacio sold 5,916 shares of 1st Constitution Bancorp stock in a transaction 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 completion of the sale, the insider now directly owns 15,795 shares of the company’s stock, valued at approximately $283,046.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 14.61% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in shares of 1st Constitution Bancorp by 1.5% in the second quarter. BlackRock Inc. now owns 356,151 shares of the financial services provider’s stock valued at $6,578,000 after acquiring an additional 5,363 shares during the period. Northern Trust Corp increased its position in shares of 1st Constitution Bancorp by 2.9% in the second quarter. Northern Trust Corp now owns 77,032 shares of the financial services provider’s stock valued at $1,423,000 after acquiring an additional 2,177 shares during the period. Renaissance Technologies LLC increased its position in shares of 1st Constitution Bancorp by 6.4% in the second quarter. Renaissance Technologies LLC now owns 110,100 shares of the financial services provider’s stock valued at $2,034,000 after acquiring an additional 6,591 shares during the period. Banc Funds Co. LLC increased its position in shares of 1st Constitution Bancorp by 1.1% in the second quarter. Banc Funds Co. LLC now owns 529,502 shares of the financial services provider’s stock valued at $9,780,000 after acquiring an additional 5,644 shares during the period. Finally, Acadian Asset Management LLC increased its position in shares of 1st Constitution Bancorp by 16.6% in the second quarter. Acadian Asset Management LLC now owns 49,734 shares of the financial services provider’s stock valued at $919,000 after acquiring an additional 7,070 shares during the period. Hedge funds and other institutional investors own 34.46% of the company’s stock.

NASDAQ:FCCY traded up $0.66 during trading hours on Friday, reaching $17.45. The company’s stock had a trading volume of 18,249 shares, compared to its average volume of 8,045. The firm has a market capitalization of $149.98 million, a price-to-earnings ratio of 11.19, a PEG ratio of 1.35 and a beta of 0.21. The firm has a 50-day simple moving average of $17.92 and a 200-day simple moving average of $18.42. 1st Constitution Bancorp has a 1 year low of $16.45 and a 1 year high of $22.65. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.88 and a current ratio of 0.97.

1st Constitution Bancorp (NASDAQ:FCCY) last issued its earnings results on Friday, July 19th. The financial services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. The company had revenue of $13.60 million for the quarter, compared to analysts’ expectations of $13.48 million. 1st Constitution Bancorp had a net margin of 22.00% and a return on equity of 11.00%. Equities analysts anticipate that 1st Constitution Bancorp will post 1.6 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 12th will be given a $0.075 dividend. 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%.

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, 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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