Vanguard Group Inc. grew its holdings in shares of 1st Constitution Bancorp (NASDAQ:FCCY) by 1.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 242,328 shares of the financial services provider’s stock after purchasing an additional 3,956 shares during the quarter. Vanguard Group Inc. owned about 2.88% of 1st Constitution Bancorp worth $5,016,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in 1st Constitution Bancorp by 1,154.0% in the 2nd quarter. BlackRock Inc. now owns 339,511 shares of the financial services provider’s stock worth $7,775,000 after acquiring an additional 312,436 shares during the period. Northern Trust Corp increased its holdings in shares of 1st Constitution Bancorp by 475.9% during the 2nd quarter. Northern Trust Corp now owns 73,033 shares of the financial services provider’s stock worth $1,672,000 after purchasing an additional 60,351 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of 1st Constitution Bancorp by 7.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 207,056 shares of the financial services provider’s stock worth $4,286,000 after purchasing an additional 14,453 shares during the period. Martingale Asset Management L P bought a new position in shares of 1st Constitution Bancorp during the 3rd quarter worth about $249,000. Finally, Bessemer Group Inc. increased its holdings in shares of 1st Constitution Bancorp by 86.5% during the 3rd quarter. Bessemer Group Inc. now owns 6,900 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 3,200 shares during the period. Institutional investors and hedge funds own 35.56% of the company’s stock.
NASDAQ:FCCY traded up $0.75 on Tuesday, reaching $17.34. The stock had a trading volume of 9,893 shares, compared to its average volume of 7,197. The firm has a market cap of $153.45 million, a PE ratio of 11.12, a price-to-earnings-growth ratio of 1.37 and a beta of 0.23. 1st Constitution Bancorp has a 1-year low of $16.45 and a 1-year high of $27.00. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.71.1st Constitution Bancorp (NASDAQ:FCCY) last released its quarterly earnings results on Thursday, January 31st. The financial services provider reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.03). 1st Constitution Bancorp had a net margin of 20.28% and a return on equity of 11.08%. The firm had revenue of $13.18 million during the quarter, compared to analyst estimates of $13.48 million. On average, research analysts expect that 1st Constitution Bancorp will post 1.63 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 28th. Shareholders of record on Friday, February 15th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Thursday, February 14th. 1st Constitution Bancorp’s dividend payout ratio is presently 19.23%.
Several research analysts have recently issued reports on FCCY shares. Zacks Investment Research downgraded shares of 1st Constitution Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, December 24th. ValuEngine lowered shares of 1st Constitution Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, February 25th.
In related news, EVP John T. Andreacio sold 1,914 shares of the business’s stock in a transaction that occurred on Wednesday, February 6th. The shares were sold at an average price of $19.02, for a total transaction of $36,404.28. Following the completion of the sale, the executive vice president now directly owns 23,625 shares of the company’s stock, valued at $449,347.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 14.61% of the company’s stock.
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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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