Zacks: Analysts Set $21.25 Target Price for 1st Constitution Bancorp (NASDAQ:FCCY)

1st Constitution Bancorp (NASDAQ:FCCY) has been given an average broker rating score of 2.33 (Buy) from the three brokers that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. 1st Constitution Bancorp’s rating score has improved by 22.3% from 90 days ago as a result of various analysts’ upgrades and downgrades.

Analysts have set a twelve-month consensus price objective of $21.25 for the company and are predicting that the company will post $0.40 EPS for the current quarter, according to Zacks. Zacks has also assigned 1st Constitution Bancorp an industry rank of 188 out of 256 based on the ratings given to related companies.

A number of research analysts have recently weighed in on FCCY shares. ValuEngine lowered 1st Constitution Bancorp from a “hold” rating to a “sell” rating in a report on Friday, March 22nd. Zacks Investment Research lowered 1st Constitution Bancorp from a “hold” rating to a “sell” rating in a report on Friday, April 12th. Finally, Sandler O’Neill started coverage on 1st Constitution Bancorp in a report on Thursday, May 23rd. They issued a “buy” rating and a $21.50 target price on the stock.

Shares of NASDAQ:FCCY opened at $18.85 on Wednesday. The company has a market capitalization of $160.99 million, a price-to-earnings ratio of 12.08, a PEG ratio of 1.48 and a beta of 0.24. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.88 and a current ratio of 0.88. 1st Constitution Bancorp has a 52-week low of $16.45 and a 52-week high of $27.00.

1st Constitution Bancorp (NASDAQ:FCCY) last announced its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.03. 1st Constitution Bancorp had a return on equity of 10.98% and a net margin of 20.23%. The business had revenue of $13.09 million for the quarter, compared to analyst estimates of $13.18 million. Equities research analysts anticipate that 1st Constitution Bancorp will post 1.58 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 13th were issued a $0.075 dividend. The ex-dividend date was Friday, May 10th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.59%. 1st Constitution Bancorp’s dividend payout ratio is presently 19.23%.

Hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SA lifted its holdings in shares of 1st Constitution Bancorp by 524.5% in the first quarter. BNP Paribas Arbitrage SA now owns 1,580 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 1,327 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of 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 valued at $115,000 after purchasing an additional 2,662 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of 1st Constitution Bancorp in the first quarter valued at approximately $113,000. Bessemer Group Inc. lifted its holdings in shares of 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 valued at $173,000 after purchasing an additional 1,800 shares in the last quarter. Finally, First Trust Advisors LP bought a new position in shares of 1st Constitution Bancorp in the fourth quarter valued at approximately $223,000. Institutional investors own 34.39% of the company’s stock.

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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