$13.28 Million in Sales Expected for 1st Constitution Bancorp (FCCY) This Quarter
Analysts forecast that 1st Constitution Bancorp (NASDAQ:FCCY) will post sales of $13.28 million for the current quarter, Zacks reports. Two analysts have provided estimates for 1st Constitution Bancorp’s earnings, with the highest sales estimate coming in at $13.76 million and the lowest estimate coming in at $12.80 million. 1st Constitution Bancorp reported sales of $11.48 million in the same quarter last year, which would suggest a positive year over year growth rate of 15.7%. The firm is expected to report its next quarterly earnings report on Thursday, October 25th.
According to Zacks, analysts expect that 1st Constitution Bancorp will report full year sales of $51.23 million for the current year, with estimates ranging from $50.31 million to $52.16 million. For the next financial year, analysts forecast that the firm will post sales of $54.68 million, with estimates ranging from $53.57 million to $55.78 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow 1st Constitution Bancorp.
1st Constitution Bancorp (NASDAQ:FCCY) last announced its quarterly earnings data on Friday, July 20th. The financial services provider reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.04. 1st Constitution Bancorp had a net margin of 14.43% and a return on equity of 9.71%. The business had revenue of $13.06 million for the quarter, compared to analyst estimates of $13.22 million.
In other 1st Constitution Bancorp news, Director James G. Aaron acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 27th. The shares were acquired at an average cost of $22.22 per share, for a total transaction of $111,100.00. Following the completion of the acquisition, the director now directly owns 9,525 shares of the company’s stock, valued at approximately $211,645.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 14.61% of the company’s stock.
A number of large investors have recently modified their holdings of FCCY. ZPR Investment Management bought a new stake in 1st Constitution Bancorp in the first quarter valued at approximately $276,000. Millennium Management LLC bought a new stake in 1st Constitution Bancorp in the first quarter valued at approximately $313,000. Schwab Charles Investment Management Inc. bought a new stake in 1st Constitution Bancorp in the second quarter valued at approximately $321,000. Bank of New York Mellon Corp bought a new stake in 1st Constitution Bancorp in the second quarter valued at approximately $622,000. Finally, Acadian Asset Management LLC increased its stake in 1st Constitution Bancorp by 436.8% in the second quarter. Acadian Asset Management LLC now owns 40,552 shares of the financial services provider’s stock valued at $928,000 after purchasing an additional 32,998 shares in the last quarter. 34.82% of the stock is owned by hedge funds and other institutional investors.
NASDAQ FCCY traded down $0.31 during trading hours on Friday, hitting $19.77. The company’s stock had a trading volume of 8,955 shares, compared to its average volume of 16,562. 1st Constitution Bancorp has a twelve month low of $16.15 and a twelve month high of $27.00. The firm has a market capitalization of $173.45 million, a P/E ratio of 18.82, a P/E/G ratio of 1.77 and a beta of 0.35. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.96 and a quick ratio of 0.95.
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 and northeastern New Jersey areas. The company offers deposit products, including interest bearing demand deposits, such as interest-bearing checking accounts, money market accounts, and NOW accounts; and non-interest bearing demand, savings, and time deposits, as well as certificates of deposit.
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