First Connecticut Bancorp, Inc. (FBNK) Downgraded by ValuEngine to Hold

First Connecticut Bancorp, Inc. (NASDAQ:FBNK) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

A number of other research firms have also recently issued reports on FBNK. Zacks Investment Research cut First Connecticut Bancorp from a “hold” rating to a “sell” rating in a report on Monday, October 23rd. BidaskClub cut First Connecticut Bancorp from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, Piper Jaffray Companies restated a “hold” rating and set a $26.00 price target on shares of First Connecticut Bancorp in a report on Sunday, September 17th.



First Connecticut Bancorp (FBNK) traded down $0.25 during trading on Wednesday, hitting $25.45. The company’s stock had a trading volume of 67,501 shares, compared to its average volume of 33,983. The company has a market cap of $406.00, a PE ratio of 20.72 and a beta of 0.68. First Connecticut Bancorp has a 52-week low of $20.50 and a 52-week high of $28.50. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.12 and a quick ratio of 1.12.

First Connecticut Bancorp (NASDAQ:FBNK) last posted its quarterly earnings results on Wednesday, October 18th. The bank reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. The firm had revenue of $24.15 million for the quarter, compared to analysts’ expectations of $25.30 million. First Connecticut Bancorp had a return on equity of 7.43% and a net margin of 18.24%. sell-side analysts expect that First Connecticut Bancorp will post 1.35 earnings per share for the current fiscal year.

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Several large investors have recently modified their holdings of the company. Royce & Associates LP acquired a new position in shares of First Connecticut Bancorp during the third quarter worth approximately $1,078,000. OxFORD Asset Management LLP raised its position in shares of First Connecticut Bancorp by 21.1% during the third quarter. OxFORD Asset Management LLP now owns 35,436 shares of the bank’s stock worth $951,000 after purchasing an additional 6,185 shares during the period. Dimensional Fund Advisors LP raised its position in shares of First Connecticut Bancorp by 11.0% during the third quarter. Dimensional Fund Advisors LP now owns 433,738 shares of the bank’s stock worth $11,602,000 after purchasing an additional 43,142 shares during the period. Hillsdale Investment Management Inc. raised its position in shares of First Connecticut Bancorp by 40.0% during the third quarter. Hillsdale Investment Management Inc. now owns 28,000 shares of the bank’s stock worth $749,000 after purchasing an additional 8,000 shares during the period. Finally, Citadel Advisors LLC acquired a new position in shares of First Connecticut Bancorp during the third quarter worth approximately $238,000. 49.64% of the stock is currently owned by institutional investors.

About First Connecticut Bancorp

First Connecticut Bancorp, Inc (FCB) is a stock holding company. The Company operates through its subsidiary, Farmington Bank (the Bank), which is a full-service community bank with branch locations throughout central Connecticut and western Massachusetts. The Bank offers commercial and residential lending, as well as wealth management services.

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