Zacks: Brokerages Anticipate 1st Constitution Bancorp (FCCY) Will Announce Earnings of $0.41 Per Share
Wall Street analysts predict that 1st Constitution Bancorp (NASDAQ:FCCY) will announce earnings of $0.41 per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for 1st Constitution Bancorp’s earnings, with the lowest EPS estimate coming in at $0.38 and the highest estimate coming in at $0.43. 1st Constitution Bancorp reported earnings of $0.30 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 36.7%. The business is expected to issue its next earnings report on Friday, February 1st.
According to Zacks, analysts expect that 1st Constitution Bancorp will report full year earnings of $1.59 per share for the current fiscal year, with EPS estimates ranging from $1.56 to $1.62. For the next fiscal year, analysts anticipate that the business will report earnings of $1.63 per share, with EPS estimates ranging from $1.55 to $1.70. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover 1st Constitution Bancorp.
1st Constitution Bancorp (NASDAQ:FCCY) last announced its quarterly earnings data on Friday, October 19th. The financial services provider reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.07. The business had revenue of $13.55 million for the quarter, compared to analyst estimates of $13.28 million. 1st Constitution Bancorp had a net margin of 16.34% and a return on equity of 10.76%.
In other news, Director William M. Rue bought 5,000 shares of the stock in a transaction that occurred on Tuesday, November 27th. The shares were acquired at an average cost of $19.81 per share, for a total transaction of $99,050.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 14.61% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in 1st Constitution Bancorp by 3.3% during the third quarter. BlackRock Inc. now owns 350,650 shares of the financial services provider’s stock worth $7,258,000 after buying an additional 11,139 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of 1st Constitution Bancorp by 1.7% in the third quarter. Vanguard Group Inc. now owns 242,328 shares of the financial services provider’s stock valued at $5,016,000 after purchasing an additional 3,956 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of 1st Constitution Bancorp by 7.5% in the third quarter. Dimensional Fund Advisors LP now owns 207,056 shares of the financial services provider’s stock valued at $4,286,000 after purchasing an additional 14,453 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of 1st Constitution Bancorp by 75.7% in the second quarter. Renaissance Technologies LLC now owns 142,000 shares of the financial services provider’s stock valued at $3,252,000 after purchasing an additional 61,200 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of 1st Constitution Bancorp by 475.9% in the second quarter. Northern Trust Corp now owns 73,033 shares of the financial services provider’s stock valued at $1,672,000 after purchasing an additional 60,351 shares during the last quarter. Institutional investors and hedge funds own 33.73% of the company’s stock.
Shares of FCCY stock traded down $0.23 during trading on Friday, reaching $19.54. The company’s stock had a trading volume of 1,325 shares, compared to its average volume of 8,310. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The firm has a market cap of $167.24 million, a PE ratio of 18.43, a P/E/G ratio of 1.56 and a beta of 0.42. 1st Constitution Bancorp has a one year low of $16.15 and a one year high of $27.00.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 22nd. Investors of record on Friday, November 9th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.54%. This is an increase from 1st Constitution Bancorp’s previous quarterly dividend of $0.06. The ex-dividend date was Thursday, November 8th. 1st Constitution Bancorp’s payout ratio is presently 28.30%.
About 1st Constitution Bancorp
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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