Zacks Investment Research lowered shares of 1st Constitution Bancorp (NJ) (NASDAQ:FCCY) from a hold rating to a strong sell rating in a research report report published on Tuesday.

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. “

Several other research analysts have also recently weighed in on the stock. ValuEngine raised shares of 1st Constitution Bancorp (NJ) from a hold rating to a buy rating in a report on Friday, June 2nd. TheStreet cut shares of 1st Constitution Bancorp (NJ) from a b rating to a c+ rating in a report on Monday, April 24th.

1st Constitution Bancorp (NASDAQ FCCY) traded up 1.45% during midday trading on Tuesday, reaching $17.45. The company had a trading volume of 3,091 shares. The firm has a market capitalization of $140.40 million, a P/E ratio of 16.63 and a beta of 0.42. The stock’s 50 day moving average price is $17.21 and its 200-day moving average price is $17.75. 1st Constitution Bancorp has a one year low of $12.20 and a one year high of $20.85.

1st Constitution Bancorp (NJ) (NASDAQ:FCCY) last released its quarterly earnings results on Friday, July 21st. The financial services provider reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.05. The company had revenue of $11.03 million during the quarter, compared to the consensus estimate of $11.50 million. 1st Constitution Bancorp (NJ) had a net margin of 17.32% and a return on equity of 8.20%. On average, equities research analysts anticipate that 1st Constitution Bancorp will post $1.05 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, July 3rd were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.15%. 1st Constitution Bancorp (NJ)’s payout ratio is presently 19.23%.

Several hedge funds and other institutional investors have recently made changes to their positions in FCCY. Segantii Capital Management Ltd raised its position in shares of 1st Constitution Bancorp (NJ) by 535.4% in the first quarter. Segantii Capital Management Ltd now owns 8,260 shares of the financial services provider’s stock worth $152,000 after buying an additional 6,960 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of 1st Constitution Bancorp (NJ) by 26.3% in the first quarter. Acadian Asset Management LLC now owns 11,023 shares of the financial services provider’s stock worth $203,000 after buying an additional 2,297 shares during the last quarter. California Public Employees Retirement System acquired a new position in shares of 1st Constitution Bancorp (NJ) during the first quarter worth about $253,000. LSV Asset Management raised its position in shares of 1st Constitution Bancorp (NJ) by 56.3% in the first quarter. LSV Asset Management now owns 24,700 shares of the financial services provider’s stock worth $455,000 after buying an additional 8,900 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of 1st Constitution Bancorp (NJ) during the fourth quarter worth about $1,021,000. Hedge funds and other institutional investors own 26.17% of the company’s stock.

1st Constitution Bancorp (NJ) Company Profile

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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