First Choice Bancorp (NASDAQ:FCBP) Short Interest Up 108.5% in August

First Choice Bancorp (NASDAQ:FCBP) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 124,700 shares, a growth of 108.5% from the July 31st total of 59,800 shares. Approximately 1.3% of the company’s stock are sold short. Based on an average daily trading volume, of 17,600 shares, the short-interest ratio is presently 7.1 days.

Separately, ValuEngine cut shares of First Choice Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, June 13th.

In other news, Vice Chairman Phillip Thong bought 2,072 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was acquired at an average cost of $21.00 per share, with a total value of $43,512.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Peter Hui bought 7,133 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was purchased at an average cost of $21.33 per share, with a total value of $152,146.89. Following the completion of the acquisition, the chairman now directly owns 671,576 shares of the company’s stock, valued at approximately $14,324,716.08. The disclosure for this purchase can be found here. Insiders acquired 29,186 shares of company stock valued at $620,046 over the last ninety days. Corporate insiders own 15.14% of the company’s stock.

Several hedge funds have recently made changes to their positions in FCBP. BNP Paribas Arbitrage SA grew its stake in shares of First Choice Bancorp by 450.1% in the first quarter. BNP Paribas Arbitrage SA now owns 1,909 shares of the company’s stock worth $41,000 after acquiring an additional 1,562 shares during the period. Bessemer Group Inc. bought a new stake in shares of First Choice Bancorp in the second quarter worth approximately $56,000. Bank of America Corp DE grew its stake in shares of First Choice Bancorp by 49.2% in the fourth quarter. Bank of America Corp DE now owns 7,431 shares of the company’s stock worth $168,000 after acquiring an additional 2,449 shares during the period. Weaver Consulting Group bought a new stake in shares of First Choice Bancorp in the first quarter worth approximately $212,000. Finally, JPMorgan Chase & Co. grew its stake in shares of First Choice Bancorp by 396.2% in the second quarter. JPMorgan Chase & Co. now owns 13,575 shares of the company’s stock worth $306,000 after acquiring an additional 10,839 shares during the period. Hedge funds and other institutional investors own 30.35% of the company’s stock.

Shares of FCBP stock traded up $0.40 during trading hours on Friday, reaching $21.95. The company had a trading volume of 242 shares, compared to its average volume of 16,413. The business has a fifty day moving average price of $21.35 and a 200-day moving average price of $21.71. First Choice Bancorp has a one year low of $18.57 and a one year high of $28.30. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.07 and a current ratio of 1.08.

First Choice Bancorp (NASDAQ:FCBP) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. First Choice Bancorp had a net margin of 25.42% and a return on equity of 10.40%. The firm had revenue of $21.16 million during the quarter.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.64%.

First Choice Bancorp Company Profile

First Choice Bancorp operates as the bank holding company for First Choice Bank that provides retail, personal, and commercial banking products and services to individuals, families, and small and medium-sized businesses. It offers interest and noninterest-bearing demand deposit, money market and savings accounts, remote deposit products, and time certificates of deposit; and loan products, such as construction and land development, residential real estate, commercial real estate, commercial and industrial, and small business administration (SBA) and consumer loans, as well as startup funds to entrepreneurs.

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