1st Constitution Bancorp (FCCY) Upgraded by Zacks Investment Research to “Hold”
Zacks Investment Research upgraded shares of 1st Constitution Bancorp (NASDAQ:FCCY) from a sell rating to a hold rating in a research report released on Monday morning. The firm currently has $20.00 target price on the financial services provider’s stock.
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. “
Shares of 1st Constitution Bancorp (NASDAQ:FCCY) opened at $18.20 on Monday. The firm has a market cap of $149.35, a price-to-earnings ratio of 18.02, a PEG ratio of 1.71 and a beta of 0.43. 1st Constitution Bancorp has a 52 week low of $15.75 and a 52 week high of $20.80. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.73.
Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its position in 1st Constitution Bancorp by 16.2% during the second quarter. Dimensional Fund Advisors LP now owns 143,463 shares of the financial services provider’s stock valued at $2,546,000 after buying an additional 19,985 shares during the period. Context BH Capital Management LP grew its position in 1st Constitution Bancorp by 18.9% during the second quarter. Context BH Capital Management LP now owns 82,254 shares of the financial services provider’s stock valued at $1,452,000 after buying an additional 13,091 shares during the period. Vanguard Group Inc. grew its position in 1st Constitution Bancorp by 0.8% during the second quarter. Vanguard Group Inc. now owns 193,815 shares of the financial services provider’s stock valued at $3,441,000 after buying an additional 1,605 shares during the period. Finally, JPMorgan Chase & Co. grew its position in 1st Constitution Bancorp by 108.8% during the second quarter. JPMorgan Chase & Co. now owns 7,582 shares of the financial services provider’s stock valued at $135,000 after buying an additional 3,951 shares during the period. Institutional investors own 27.88% of the company’s stock.
About 1st Constitution Bancorp
1st Constitution Bancorp is the bank holding company for 1st Constitution Bank (the Bank). The Bank is a commercial bank, which is engaged in the business of commercial and retail banking. The Company operates through the Community Banking segment. The Community Banking segment consists of construction, commercial, retail and mortgage banking operations.
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