1st Constitution Bancorp (NASDAQ:FCCY) was the recipient of a significant drop in short interest during the month of July. As of July 15th, there was short interest totalling 47,300 shares, a drop of 20.0% from the June 15th total of 59,100 shares. Currently, 0.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 9,200 shares, the short-interest ratio is presently 5.1 days.

FCCY has been the topic of several recent analyst reports. Zacks Investment Research cut shares of Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, June 26th. Sandler O’Neill initiated coverage on shares of 1st Constitution Bancorp in a research report on Thursday, May 23rd. They set a “buy” rating and a $21.50 price objective on the stock. Finally, DA Davidson initiated coverage on shares of WillScot in a research report on Tuesday, June 25th. They set a “buy” rating and a $19.00 price objective on the stock.

In other news, insider John T. Andreacio sold 5,916 shares of 1st Constitution Bancorp stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $17.92, for a total transaction of $106,014.72. Following the sale, the insider now owns 15,795 shares in the company, valued at $283,046.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 14.33% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in FCCY. BNP Paribas Arbitrage SA increased its position in 1st Constitution Bancorp by 524.5% in the first quarter. BNP Paribas Arbitrage SA now owns 1,580 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 1,327 shares during the last quarter. Strs Ohio increased its position in 1st Constitution Bancorp by 61.9% in the second quarter. Strs Ohio now owns 3,400 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 1,300 shares during the last quarter. SG Americas Securities LLC bought a new stake in 1st Constitution Bancorp in the first quarter worth $113,000. Bank of America Corp DE increased its position in 1st Constitution Bancorp by 86.0% in the fourth quarter. Bank of America Corp DE now owns 5,756 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 2,662 shares during the last quarter. Finally, First Trust Advisors LP bought a new stake in 1st Constitution Bancorp in the fourth quarter worth $223,000. Institutional investors own 34.39% of the company’s stock.

FCCY traded up $0.12 during trading hours on Monday, hitting $18.30. The company’s stock had a trading volume of 12,600 shares, compared to its average volume of 7,890. The firm has a 50-day moving average of $18.38. 1st Constitution Bancorp has a 12 month low of $16.45 and a 12 month high of $23.45. The firm has a market cap of $156.85 million, a PE ratio of 11.73, a price-to-earnings-growth ratio of 1.42 and a beta of 0.22. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.43.

1st Constitution Bancorp (NASDAQ:FCCY) last announced its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.01. 1st Constitution Bancorp had a net margin of 22.00% and a return on equity of 11.17%. The company had revenue of $13.60 million for the quarter, compared to analysts’ expectations of $13.48 million. As a group, equities analysts predict that 1st Constitution Bancorp will post 1.6 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 12th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Friday, August 9th. 1st Constitution Bancorp’s dividend payout ratio is presently 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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