Price Change to Note: Could 1st Constitution Bancorp See a Reversal After Breaking Its 52-Week High?

Price Change to Note: Could 1st Constitution Bancorp See a Reversal After Breaking Its 52 Week High?

The stock of 1st Constitution Bancorp (NASDAQ:FCCY) hit a new 52-week high and has $17.30 target or 8.00% above today’s $16.02 share price. The 9 months bullish chart indicates low risk for the $129.56M company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $17.30 price target is reached, the company will be worth $10.36 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 18,618 shares traded hands. 1st Constitution Bancorp (NASDAQ:FCCY) has risen 23.35% since April 26, 2016 and is uptrending. It has outperformed by 18.09% the S&P500.

Analysts await 1st Constitution Bancorp (NASDAQ:FCCY) to report earnings on February, 1. They expect $0.21 EPS, up 5.00% or $0.01 from last year’s $0.2 per share. FCCY’s profit will be $1.70 million for 19.07 P/E if the $0.21 EPS becomes a reality. After $0.33 actual EPS reported by 1st Constitution Bancorp for the previous quarter, Wall Street now forecasts -36.36% negative EPS growth.

According to Zacks Investment Research, “1st Constitution Bancorp occupies an enviable position as one of New Jersey’s few independent community banks. Dramatically improved earnings and growth, a strong capital base, and a dynamic management, combined to propel 1st Constitution Bank full speed ahead amid the changing tides in the banking industry. 1st Constitution Bank is a community oriented bank serving Central New Jersey.”

Insitutional Activity: The institutional sentiment increased to 2.2 in 2016 Q2. Its up 0.20, from 2 in 2016Q1. The ratio increased, as 2 funds sold all 1st Constitution Bancorp shares owned while 3 reduced positions. 1 funds bought stakes while 9 increased positions. They now own 1.34 million shares or 49.12% less from 2.64 million shares in 2016Q1.
Hightower Advsr Limited Company owns 11,557 shares or 0% of their US portfolio. Vanguard Gp owns 163,461 shares or 0% of their US portfolio. Axa holds 0% or 100 shares in its portfolio. Tower Rech Cap Limited Liability Com (Trc) accumulated 616 shares or 0% of the stock. Bridgeway Capital Mgmt has 26,983 shares for 0.01% of their US portfolio. Banc Funds Ltd Llc has invested 0.52% of its portfolio in 1st Constitution Bancorp (NASDAQ:FCCY). Morgan Stanley holds 0% of its portfolio in 1st Constitution Bancorp (NASDAQ:FCCY) for 2,993 shares. Blackrock Inv Mgmt Limited Liability Co holds 0% or 1,081 shares in its portfolio. Pinnacle Holdg Ltd holds 0% or 10,397 shares in its portfolio. Blackrock Fund Advsr owns 1,088 shares or 0% of their US portfolio. Dimensional Fund Lp, a Texas-based fund reported 81,705 shares. Alliancebernstein Lp accumulated 174,751 shares or 0% of the stock. Ladenburg Thalmann Fin Service has invested 0% of its portfolio in 1st Constitution Bancorp (NASDAQ:FCCY). Highlander Capital Ltd has 0.08% invested in the company for 7,628 shares. Lsv Asset holds 15,800 shares or 0% of its portfolio.

Insider Transactions: Since August 4, 2016, the stock had 2 insider purchases, and 0 selling transactions for $62,131 net activity. RUE WILLIAM M bought $27,300 worth of stock. Another trade for 2,700 shares valued at $34,831 was bought by PISANI EDWIN J.

More important recent 1st Constitution Bancorp (NASDAQ:FCCY) news were published by: Nasdaq.com which released: “1st Constitution Bancorp (FCCY): Strong Industry, Solid Earnings Estimate …” on November 25, 2016, also Reuters.com published article titled: “BRIEF-1St Constitution Bancorp announces change and new member to board”, Globenewswire.com published: “1ST Constitution Bancorp Announces Changes to Board of Directors” on June 21, 2016. More interesting news about 1st Constitution Bancorp (NASDAQ:FCCY) was released by: Globenewswire.com and their article: “1ST Constitution Bancorp Announces Change and New Member to Its Board of …” with publication date: November 23, 2016.

FCCY Company Profile

1st Constitution Bancorp, incorporated in February 1, 1999, is the bank holding firm for 1st Constitution Bank (the Bank). The Bank is a commercial bank, which is engaged in the business of commercial and retail banking. The Firm operates through the Community Banking segment. The Community Banking segment consists of construction, commercial, retail and mortgage banking operations. As a community bank, the Bank offers a range of services (including demand, savings and time deposits and commercial and consumer/installment loans) to individuals, small businesses and not-for-profit organizations principally in the Fort Lee area of Bergen County and in Middlesex, Mercer, Somerset and Monmouth Counties of New Jersey. The Bank’s Mortgage Warehouse Funding Group offers revolving lines of credit that are available to licensed mortgage banking companies (the Warehouse Line of Credit). The Warehouse Line of Credit is used by the mortgage banker to originate one- to four-family residential mortgage loans that are pre-sold to the secondary mortgage market, which includes state and national banks, national mortgage banking firms, insurance companies and government-sponsored enterprises, including the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation and others.

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