$12.03 Million in Sales Expected for 1st Constitution Bancorp (NJ) (FCCY) This Quarter

Wall Street brokerages expect that 1st Constitution Bancorp (NJ) (NASDAQ:FCCY) will post sales of $12.03 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for 1st Constitution Bancorp (NJ)’s earnings, with the highest sales estimate coming in at $12.35 million and the lowest estimate coming in at $11.71 million. 1st Constitution Bancorp (NJ) posted sales of $11.25 million during the same quarter last year, which would suggest a positive year over year growth rate of 6.9%. The business is scheduled to report its next quarterly earnings results on Friday, October 20th.

According to Zacks, analysts expect that 1st Constitution Bancorp (NJ) will report full year sales of $12.03 million for the current year, with estimates ranging from $45.45 million to $47.07 million. For the next financial year, analysts expect that the business will report sales of $48.86 million per share, with estimates ranging from $47.33 million to $50.40 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow 1st Constitution Bancorp (NJ).

1st Constitution Bancorp (NJ) (NASDAQ:FCCY) last posted its earnings results on Friday, July 21st. The financial services provider reported $0.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.05. The company had revenue of $11.03 million for the quarter, compared to the consensus estimate of $11.50 million. 1st Constitution Bancorp (NJ) had a return on equity of 8.13% and a net margin of 17.32%.

Several brokerages recently issued reports on FCCY. DA Davidson began coverage on 1st Constitution Bancorp (NJ) in a research note on Friday, September 1st. They issued a “neutral” rating and a $18.00 price target for the company. Zacks Investment Research upgraded 1st Constitution Bancorp (NJ) from a “sell” rating to a “hold” rating in a research note on Monday, June 26th. Finally, ValuEngine upgraded 1st Constitution Bancorp (NJ) from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. California Public Employees Retirement System bought a new stake in 1st Constitution Bancorp (NJ) during the first quarter worth $253,000. Dimensional Fund Advisors LP lifted its stake in 1st Constitution Bancorp (NJ) by 24.1% during the first quarter. Dimensional Fund Advisors LP now owns 123,478 shares of the financial services provider’s stock worth $2,278,000 after purchasing an additional 24,015 shares during the last quarter. Renaissance Technologies LLC lifted its stake in 1st Constitution Bancorp (NJ) by 20.0% during the first quarter. Renaissance Technologies LLC now owns 65,500 shares of the financial services provider’s stock worth $1,208,000 after purchasing an additional 10,900 shares during the last quarter. Acadian Asset Management LLC lifted its stake in 1st Constitution Bancorp (NJ) by 26.3% during the first quarter. Acadian Asset Management LLC now owns 11,023 shares of the financial services provider’s stock worth $203,000 after purchasing an additional 2,297 shares during the last quarter. Finally, LSV Asset Management lifted its stake in 1st Constitution Bancorp (NJ) by 56.3% during the first quarter. LSV Asset Management now owns 24,700 shares of the financial services provider’s stock worth $455,000 after purchasing an additional 8,900 shares during the last quarter. Hedge funds and other institutional investors own 27.05% of the company’s stock.

1st Constitution Bancorp (FCCY) opened at 17.20 on Friday. The company’s 50 day moving average price is $17.15 and its 200 day moving average price is $17.62. The company has a market cap of $138.79 million, a P/E ratio of 16.40 and a beta of 0.43. 1st Constitution Bancorp has a 52-week low of $12.47 and a 52-week high of $20.85.

ILLEGAL ACTIVITY NOTICE: This story was reported by Markets Daily and is the property of of Markets Daily. If you are reading this story on another domain, it was illegally copied and republished in violation of US & international copyright laws. The original version of this story can be read at https://www.themarketsdaily.com/2017/09/10/12-03-million-in-sales-expected-for-1st-constitution-bancorp-nj-fccy-this-quarter.html.

About 1st Constitution Bancorp (NJ)

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.

Get a free copy of the Zacks research report on 1st Constitution Bancorp (NJ) (FCCY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for 1st Constitution Bancorp (NJ) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 1st Constitution Bancorp (NJ) and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply