In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), 1St Constitution Bancorp (NASDAQ:FCCY) reported that Mangano Robert F has picked up 506,207 of common stock as of 2017-04-05.
The acquisition brings the aggregate amount owned by Mangano Robert F to a total of 506,207 representing a 6.3% stake in the company.
For those not familiar with the company, 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. 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 Bank’s investment activities are classified as available for sale and held to maturity securities.
A glance at 1St Constitution Bancorp (NASDAQ:FCCY)’s key stats reveals a current market capitalization of 146.49 Million based on 8.03 Million shares outstanding and a price at last close of $18.25 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-03-02, Barrett picked up 100 at a purchase price of $18.68. This brings their total holding to 100 as of the date of the filing.
On the sell side, the most recent transaction saw Tartaglia unload 500 shares at a sale price of $16.27. This brings their total holding to 20,868.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on 1St Constitution Bancorp (NASDAQ:FCCY) as things move forward to see if its progress aligns with these transactions.
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