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FCCY

1st Constitution BancorpNasdaqGM:FCCY Stock Report

Market Cap

US$251.3m

7D

-5.8%

1Y

45.7%

Updated

02 Dec, 2021

Data

Company Financials +
FCCY fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance4/6
Financial Health6/6
Dividends3/6

FCCY Stock Overview

1st Constitution Bancorp operates as the bank holding company for 1st Constitution Bank that provides commercial and retail banking products and services in the central, coastal, and northeastern areas of New Jersey.

1st Constitution Bancorp Competitors

Customers Bancorp

NYSE:CUBI

US$1.9b

Atlantic Capital Bancshares

NasdaqGS:ACBI

US$567.3m

Howard Bancorp

NasdaqCM:HBMD

US$388.7m

Peoples Financial Services

NasdaqGS:PFIS

US$339.9m

Price History & Performance

Summary of all time highs, changes and price drops for 1st Constitution Bancorp
Historical stock prices
Current Share PriceUS$23.81
52 Week HighUS$25.93
52 Week LowUS$14.65
Beta0.65
1 Month Change-3.72%
3 Month Change5.78%
1 Year Change45.72%
3 Year Change19.65%
5 Year Change40.06%
Change since IPO959.40%

Recent News & Updates

Shareholder Returns

FCCYUS BanksUS Market
7D-5.8%-7.2%-4.9%
1Y45.7%36.7%17.8%

Return vs Industry: FCCY exceeded the US Banks industry which returned 40.6% over the past year.

Return vs Market: FCCY exceeded the US Market which returned 20% over the past year.

Price Volatility

Is FCCY's price volatile compared to industry and market?
FCCY volatility
FCCY Average Weekly Movement3.5%
Banks Industry Average Movement3.7%
Market Average Movement6.0%
10% most volatile stocks in US Market15.1%
10% least volatile stocks in US Market2.4%

Stable Share Price: FCCY is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: FCCY's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1989215Robert Manganohttps://www.1stconstitution.com

1st Constitution Bancorp operates as the bank holding company for 1st Constitution Bank that provides commercial and retail banking products and 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 NOW accounts; and non-interest bearing demand, savings, and time deposits. It also provides commercial loans, including term loans, lines of credit, and loans secured by equipment and receivables; secured and unsecured short-to-medium term commercial loans to businesses for working capital, business expansion, and the purchase of equipment and machinery; commercial real estate loans; and commercial construction financing to real estate developers for the acquisition, development, and construction of residential and commercial properties.

1st Constitution Bancorp Fundamentals Summary

How do 1st Constitution Bancorp's earnings and revenue compare to its market cap?
FCCY fundamental statistics
Market CapUS$251.32m
Earnings (TTM)US$21.58m
Revenue (TTM)US$72.80m

11.4x

P/E Ratio

1.2x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
FCCY income statement (TTM)
RevenueUS$72.80m
Cost of RevenueUS$0
Gross ProfitUS$72.80m
ExpensesUS$51.23m
EarningsUS$21.58m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)2.09
Gross Margin100.00%
Net Profit Margin29.64%
Debt/Equity Ratio9.3%

How did FCCY perform over the long term?

See historical performance and comparison

Dividends

1.7%

Current Dividend Yield

19%

Payout Ratio

Valuation

Is 1st Constitution Bancorp undervalued compared to its fair value and its price relative to the market?

30.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FCCY ($23.81) is trading below our estimate of fair value ($34.36)

Significantly Below Fair Value: FCCY is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: FCCY is poor value based on its PE Ratio (11.4x) compared to the US Banks industry average (10.5x).

PE vs Market: FCCY is good value based on its PE Ratio (11.4x) compared to the US market (16.8x).


Price to Earnings Growth Ratio

PEG Ratio: FCCY's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: FCCY's PB Ratio (1.2x) is in line with the US Banks industry average.


Future Growth

How is 1st Constitution Bancorp forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

-8.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FCCY's earnings are forecast to decline over the next 3 years (-8.2% per year).

Earnings vs Market: FCCY's earnings are forecast to decline over the next 3 years (-8.2% per year).

High Growth Earnings: FCCY's earnings are forecast to decline over the next 3 years.

Revenue vs Market: FCCY's revenue is expected to decline over the next 3 years (-0.7% per year).

High Growth Revenue: FCCY's revenue is forecast to decline over the next 3 years (-0.7% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FCCY's Return on Equity is forecast to be low in 3 years time (8.2%).


Past Performance

How has 1st Constitution Bancorp performed over the past 5 years?

21.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FCCY has high quality earnings.

Growing Profit Margin: FCCY's current net profit margins (29.6%) are higher than last year (24.6%).


Past Earnings Growth Analysis

Earnings Trend: FCCY's earnings have grown significantly by 21.1% per year over the past 5 years.

Accelerating Growth: FCCY's earnings growth over the past year (41.3%) exceeds its 5-year average (21.1% per year).

Earnings vs Industry: FCCY earnings growth over the past year (41.3%) underperformed the Banks industry 43%.


Return on Equity

High ROE: FCCY's Return on Equity (10.8%) is considered low.


Financial Health

How is 1st Constitution Bancorp's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: FCCY's Assets to Equity ratio (9.6x) is low.

Allowance for Bad Loans: FCCY has a sufficient allowance for bad loans (180%).

Low Risk Liabilities: 96% of FCCY's liabilities are made up of primarily low risk sources of funding.

Loan Level: FCCY has an appropriate level of Loans to Assets ratio (62%).

Low Risk Deposits: FCCY's Loans to Deposits ratio (72%) is appropriate.

Level of Bad Loans: FCCY has an appropriate level of bad loans (0.8%).


Dividend

What is 1st Constitution Bancorp current dividend yield, its reliability and sustainability?

1.68%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: FCCY's dividend (1.68%) is higher than the bottom 25% of dividend payers in the US market (1.35%).

High Dividend: FCCY's dividend (1.68%) is low compared to the top 25% of dividend payers in the US market (3.63%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, FCCY has been paying a dividend for less than 10 years.

Growing Dividend: FCCY's dividend payments have increased, but the company has only paid a dividend for 5 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (18.6%), FCCY's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: FCCY's dividends in 3 years are forecast to be well covered by earnings (23% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

7.4yrs

Average management tenure


CEO

Robert Mangano (75 yo)

no data

Tenure

US$1,763,005

Compensation

Mr. Robert F. Mangano serves as the Chief Executive Officer and President at 1st Constitution Bancorp and 1st Constitution Bank, a subsidiary of 1st Constitution Bancorp. Mr. Mangano serves as Treasurer of...


CEO Compensation Analysis

Compensation vs Market: Robert's total compensation ($USD1.76M) is above average for companies of similar size in the US market ($USD1.13M).

Compensation vs Earnings: Robert's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: FCCY's management team is seasoned and experienced (7.4 years average tenure).


Board Members

Experienced Board: FCCY's board of directors are considered experienced (5.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

1st Constitution Bancorp's employee growth, exchange listings and data sources


Key Information

  • Name: 1st Constitution Bancorp
  • Ticker: FCCY
  • Exchange: NasdaqGM
  • Founded: 1989
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$251.322m
  • Shares outstanding: 10.32m
  • Website: https://www.1stconstitution.com

Number of Employees


Location

  • 1st Constitution Bancorp
  • 2650 Route 130
  • PO Box 634
  • Cranbury
  • New Jersey
  • 8512
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/12/02 00:02
End of Day Share Price2021/12/01 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.