BlackRock Inc. Has $6.58 Million Stake in 1st Constitution Bancorp (NASDAQ:FCCY)

BlackRock Inc. boosted its position in 1st Constitution Bancorp (NASDAQ:FCCY) by 1.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 356,151 shares of the financial services provider’s stock after buying an additional 5,363 shares during the period. BlackRock Inc.’s holdings in 1st Constitution Bancorp were worth $6,578,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Banc Funds Co. LLC lifted its holdings in 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 buying an additional 5,644 shares during the period. Acadian Asset Management LLC lifted its holdings in 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 buying an additional 7,070 shares during the period. Northern Trust Corp lifted its holdings in 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 buying an additional 2,177 shares during the period. Strs Ohio lifted its holdings in 1st Constitution Bancorp by 61.9% in the second quarter. Strs Ohio now owns 3,400 shares of the financial services provider’s stock valued at $62,000 after buying an additional 1,300 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in 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 buying an additional 6,591 shares during the period. Institutional investors and hedge funds own 35.79% of the company’s stock.

Several research firms recently issued reports on FCCY. DA Davidson lowered 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 report on Tuesday, June 25th. Zacks Investment Research upgraded shares of 1st Constitution Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, ValuEngine lowered shares of 1st Constitution Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, October 17th.

FCCY stock opened at $19.24 on Wednesday. The firm has a market cap of $165.47 million, a price-to-earnings ratio of 12.33, a PEG ratio of 1.50 and a beta of 0.26. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 1.03. 1st Constitution Bancorp has a 12-month low of $16.47 and a 12-month high of $20.85. The company’s fifty day simple moving average is $18.60 and its 200 day simple moving average is $18.35.

1st Constitution Bancorp (NASDAQ:FCCY) last released its earnings results on Friday, October 18th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.05. 1st Constitution Bancorp had a net margin of 21.02% and a return on equity of 10.76%. The business had revenue of $13.72 million for the quarter, compared to analyst estimates of $13.27 million. Research analysts expect that 1st Constitution Bancorp will post 1.59 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th will be issued a dividend of $0.075 per share. The ex-dividend date is Thursday, October 24th. This represents a $0.30 annualized dividend and a dividend yield of 1.56%. 1st Constitution Bancorp’s dividend payout ratio is currently 19.23%.

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, 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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Institutional Ownership by Quarter for 1st Constitution Bancorp (NASDAQ:FCCY)

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