Stieven Capital Advisors L.P. Sells 1,800 Shares of 1st Constitution Bancorp (NASDAQ:FCCY)
Stieven Capital Advisors L.P. lowered its holdings in shares of 1st Constitution Bancorp (NASDAQ:FCCY) by 1.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,640 shares of the financial services provider’s stock after selling 1,800 shares during the period. Stieven Capital Advisors L.P. owned approximately 1.63% of 1st Constitution Bancorp worth $2,598,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Acadian Asset Management LLC raised its holdings in shares of 1st Constitution Bancorp by 16.6% in the 2nd quarter. Acadian Asset Management LLC now owns 49,734 shares of the financial services provider’s stock worth $919,000 after buying an additional 7,070 shares in the last quarter. Siena Capital Partners GP LLC increased its holdings in 1st Constitution Bancorp by 3.7% during the 2nd quarter. Siena Capital Partners GP LLC now owns 129,849 shares of the financial services provider’s stock valued at $2,398,000 after purchasing an additional 4,651 shares in the last quarter. Strs Ohio increased its holdings in 1st Constitution Bancorp by 61.9% during the 2nd quarter. Strs Ohio now owns 3,400 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 1,300 shares in the last quarter. Banc Funds Co. LLC increased its holdings in 1st Constitution Bancorp by 0.8% during the 1st quarter. Banc Funds Co. LLC now owns 523,858 shares of the financial services provider’s stock valued at $9,309,000 after purchasing an additional 4,000 shares in the last quarter. Finally, LSV Asset Management increased its holdings in 1st Constitution Bancorp by 12.1% during the 1st quarter. LSV Asset Management now owns 26,900 shares of the financial services provider’s stock valued at $478,000 after purchasing an additional 2,900 shares in the last quarter. 34.45% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on FCCY shares. Sandler O’Neill started coverage on 1st Constitution Bancorp in a report on Thursday, May 23rd. They set a “buy” rating and a $21.50 price target for the company. DA Davidson lowered 1st Constitution Bancorp from a “buy” rating to a “neutral” rating and set a $18.09 price objective on the stock. in a research report on Tuesday, June 25th. Finally, Zacks Investment Research upgraded 1st Constitution Bancorp from a “hold” rating to a “strong-buy” rating and set a $20.00 price objective on the stock in a research report on Wednesday, June 26th.
FCCY traded down $0.03 during mid-day trading on Wednesday, reaching $17.13. The stock had a trading volume of 2 shares, compared to its average volume of 10,820. The stock has a market capitalization of $151.01 million, a P/E ratio of 10.93, a P/E/G ratio of 1.36 and a beta of 0.21. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.96 and a current ratio of 0.97. The firm’s fifty day simple moving average is $17.84 and its two-hundred day simple moving average is $18.39. 1st Constitution Bancorp has a 52 week low of $16.45 and a 52 week high of $22.45.
1st Constitution Bancorp (NASDAQ:FCCY) last posted its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. 1st Constitution Bancorp had a return on equity of 11.00% and a net margin of 22.00%. The business had revenue of $13.60 million for the quarter, compared to analyst estimates of $13.48 million. As a group, analysts expect that 1st Constitution Bancorp will post 1.6 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 12th will be given a $0.075 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.30 annualized dividend and a dividend yield of 1.75%. 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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