1st Constitution Bancorp (NASDAQ:FCCY) Expected to Post Earnings of $0.42 Per Share

Wall Street analysts forecast that 1st Constitution Bancorp (NASDAQ:FCCY) will report $0.42 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for 1st Constitution Bancorp’s earnings. 1st Constitution Bancorp reported earnings per share of $0.39 in the same quarter last year, which would suggest a positive year over year growth rate of 7.7%. The firm is expected to report its next quarterly earnings results on Friday, April 17th.

According to Zacks, analysts expect that 1st Constitution Bancorp will report full-year earnings of $1.78 per share for the current year, with EPS estimates ranging from $1.75 to $1.82. For the next financial year, analysts expect that the business will post earnings of $1.85 per share, with EPS estimates ranging from $1.75 to $2.00. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover 1st Constitution Bancorp.

1st Constitution Bancorp (NASDAQ:FCCY) last released its earnings results on Friday, January 31st. The financial services provider reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.05. The firm had revenue of $15.15 million during the quarter, compared to analysts’ expectations of $14.57 million.

Several analysts have commented on FCCY shares. Zacks Investment Research raised shares of 1st Constitution Bancorp from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Wednesday, February 5th. ValuEngine cut shares of 1st Constitution Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th.

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in shares of 1st Constitution Bancorp by 1.5% during the 2nd quarter. BlackRock Inc. now owns 356,151 shares of the financial services provider’s stock valued at $6,578,000 after buying an additional 5,363 shares during the period. Siena Capital Partners GP LLC grew its stake in shares of 1st Constitution Bancorp by 17.1% during the 4th quarter. Siena Capital Partners GP LLC now owns 152,656 shares of the financial services provider’s stock valued at $3,378,000 after buying an additional 22,246 shares during the period. Renaissance Technologies LLC grew its stake in shares of 1st Constitution Bancorp by 10.5% during the 4th quarter. Renaissance Technologies LLC now owns 138,953 shares of the financial services provider’s stock valued at $3,075,000 after buying an additional 13,153 shares during the period. State Street Corp grew its stake in shares of 1st Constitution Bancorp by 10.7% during the 4th quarter. State Street Corp now owns 129,810 shares of the financial services provider’s stock valued at $2,873,000 after buying an additional 12,521 shares during the period. Finally, Salzhauer Michael grew its stake in shares of 1st Constitution Bancorp by 6.1% during the 4th quarter. Salzhauer Michael now owns 125,887 shares of the financial services provider’s stock valued at $2,786,000 after buying an additional 7,263 shares during the period. 38.94% of the stock is owned by hedge funds and other institutional investors.

FCCY stock traded down $0.35 during midday trading on Friday, hitting $20.51. The stock had a trading volume of 1,767 shares. 1st Constitution Bancorp has a 12-month low of $16.47 and a 12-month high of $22.91. The company’s 50-day moving average price is $21.48 and its 200 day moving average price is $19.61.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Friday, February 14th will be paid a $0.09 dividend. This is a boost from 1st Constitution Bancorp’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 1.76%. The ex-dividend date is Thursday, February 13th.

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.

Further Reading: What does an equal weight rating mean?

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