1st Constitution Bancorp (FCCY) Downgraded by Zacks Investment Research

1st Constitution Bancorp (NASDAQ:FCCY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, April 11th.

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. “

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Separately, ValuEngine upgraded shares of 1st Constitution Bancorp from a “buy” rating to a “strong-buy” rating in a report on Monday, April 2nd.

Shares of NASDAQ FCCY opened at $21.85 on Wednesday. 1st Constitution Bancorp has a 1 year low of $16.15 and a 1 year high of $22.52. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market cap of $183.97, a P/E ratio of 20.61, a P/E/G ratio of 1.65 and a beta of 0.39.

1st Constitution Bancorp (NASDAQ:FCCY) last announced its quarterly earnings data on Friday, February 2nd. The financial services provider reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.04. The business had revenue of $11.74 million for the quarter, compared to analysts’ expectations of $11.54 million. 1st Constitution Bancorp had a net margin of 13.64% and a return on equity of 8.04%. equities analysts predict that 1st Constitution Bancorp will post 1.33 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of FCCY. Dimensional Fund Advisors LP lifted its position in 1st Constitution Bancorp by 9.7% during the third quarter. Dimensional Fund Advisors LP now owns 157,397 shares of the financial services provider’s stock valued at $2,857,000 after purchasing an additional 13,934 shares during the period. Wells Fargo & Company MN raised 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 during the period. Salzhauer Michael raised its position in 1st Constitution Bancorp by 6.4% in the fourth quarter. Salzhauer Michael now owns 112,028 shares of the financial services provider’s stock worth $2,050,000 after acquiring an additional 6,774 shares during the period. Alliancebernstein L.P. raised its position in 1st Constitution Bancorp by 18.6% in the fourth quarter. Alliancebernstein L.P. now owns 220,333 shares of the financial services provider’s stock worth $4,032,000 after acquiring an additional 34,579 shares during the period. Finally, Renaissance Technologies LLC raised its position in 1st Constitution Bancorp by 9.8% in the fourth quarter. Renaissance Technologies LLC now owns 71,399 shares of the financial services provider’s stock worth $1,307,000 after acquiring an additional 6,399 shares during the period. Institutional investors own 27.32% 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 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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