DA Davidson Comments on 1st Constitution Bancorp’s FY2020 Earnings (NASDAQ:FCCY)

Samuel Edwards

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1st Constitution Bancorp (NASDAQ:FCCY) – Equities researchers at DA Davidson issued their FY2020 EPS estimates for shares of 1st Constitution Bancorp in a note issued to investors on Wednesday, October 28th. DA Davidson analyst R. Gunther expects that the financial services provider will post earnings of $1.57 per share for the year. DA Davidson also issued estimates for 1st Constitution Bancorp’s Q4 2020 earnings at $0.40 EPS and FY2021 earnings at $1.35 EPS.

1st Constitution Bancorp (NASDAQ:FCCY) last posted its earnings results on Friday, October 23rd. The financial services provider reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.22. 1st Constitution Bancorp had a return on equity of 9.17% and a net margin of 18.76%.

Several other research firms also recently weighed in on FCCY. ValuEngine upgraded shares of 1st Constitution Bancorp from a “strong sell” rating to a “sell” rating in a report on Thursday, October 1st. Zacks Investment Research raised shares of 1st Constitution Bancorp from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research note on Tuesday, September 29th. Finally, Piper Sandler lifted their price objective on 1st Constitution Bancorp from $12.50 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, October 26th.

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NASDAQ:FCCY opened at $13.04 on Friday. 1st Constitution Bancorp has a 52-week low of $9.01 and a 52-week high of $22.91. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.71. The stock has a fifty day simple moving average of $12.21 and a 200-day simple moving average of $12.27. The company has a market capitalization of $133.22 million, a PE ratio of 8.99 and a beta of 0.58.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Tuesday, November 10th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Monday, November 9th. 1st Constitution Bancorp’s dividend payout ratio is presently 21.43%.

In other news, Director Charles S. Crow III bought 5,000 shares of 1st Constitution Bancorp stock in a transaction on Friday, October 23rd. The shares were bought at an average cost of $12.59 per share, for a total transaction of $62,950.00. Following the acquisition, the director now owns 53,020 shares in the company, valued at $667,521.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 14.61% of the company’s stock.

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A number of institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp boosted its holdings in shares of 1st Constitution Bancorp by 4.5% during the first quarter. State Street Corp now owns 135,707 shares of the financial services provider’s stock worth $1,798,000 after purchasing an additional 5,897 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in 1st Constitution Bancorp by 35.5% in the 1st quarter. JPMorgan Chase & Co. now owns 15,637 shares of the financial services provider’s stock valued at $206,000 after buying an additional 4,097 shares during the period. Geode Capital Management LLC increased its stake in shares of 1st Constitution Bancorp by 6.5% during the 1st quarter. Geode Capital Management LLC now owns 116,209 shares of the financial services provider’s stock valued at $1,539,000 after acquiring an additional 7,076 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of 1st Constitution Bancorp by 382.5% during the 2nd quarter. Bank of America Corp DE now owns 9,524 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 7,550 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of 1st Constitution Bancorp by 8.2% in the second quarter. Bank of New York Mellon Corp now owns 34,636 shares of the financial services provider’s stock worth $430,000 after acquiring an additional 2,618 shares during the last quarter. Institutional investors own 39.50% of the company’s stock.

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1st Constitution Bancorp Company Profile

1st Constitution Bancorp operates as the bank holding company for 1st Constitution Bank that provides commercial and retail banking products and 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 NOW accounts; and non-interest bearing demand, savings, and time deposits, as well as certificate of deposits.

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Earnings History and Estimates for 1st Constitution Bancorp (NASDAQ:FCCY)

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