Shares of First Connecticut Bancorp Inc (NASDAQ:FBNK) have been given an average broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has given a strong buy rating to the company. First Connecticut Bancorp’s rating score has improved by 33.3% in the last 90 days as a result of various analysts’ upgrades and downgrades.
Brokerages have set a 1-year consensus price target of $28.88 for the company and are forecasting that the company will post $0.41 earnings per share for the current quarter, according to Zacks. Zacks has also assigned First Connecticut Bancorp an industry rank of 134 out of 265 based on the ratings given to related companies.
FBNK has been the subject of a number of research reports. Zacks Investment Research upgraded First Connecticut Bancorp from a “sell” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Tuesday, December 19th. ValuEngine downgraded First Connecticut Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, November 22nd. BidaskClub upgraded First Connecticut Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, March 3rd. Finally, Piper Jaffray Companies upgraded First Connecticut Bancorp from a “neutral” rating to an “overweight” rating in a research note on Monday, February 5th.
In other First Connecticut Bancorp news, Director Kenneth F. Burns sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $25.27, for a total value of $25,270.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders acquired 1,370 shares of company stock valued at $34,381. Corporate insiders own 10.70% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its stake in First Connecticut Bancorp by 6.5% in the fourth quarter. BlackRock Inc. now owns 1,089,232 shares of the bank’s stock valued at $28,484,000 after purchasing an additional 66,431 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in First Connecticut Bancorp by 11.0% in the third quarter. Dimensional Fund Advisors LP now owns 433,738 shares of the bank’s stock valued at $11,602,000 after purchasing an additional 43,142 shares in the last quarter. Renaissance Technologies LLC grew its stake in First Connecticut Bancorp by 6.7% in the fourth quarter. Renaissance Technologies LLC now owns 348,400 shares of the bank’s stock valued at $9,111,000 after purchasing an additional 21,952 shares in the last quarter. State Street Corp grew its stake in First Connecticut Bancorp by 8.1% in the second quarter. State Street Corp now owns 314,924 shares of the bank’s stock valued at $8,079,000 after purchasing an additional 23,657 shares in the last quarter. Finally, Northern Trust Corp grew its stake in First Connecticut Bancorp by 7.8% in the second quarter. Northern Trust Corp now owns 178,477 shares of the bank’s stock valued at $4,577,000 after purchasing an additional 12,860 shares in the last quarter. Hedge funds and other institutional investors own 47.30% of the company’s stock.
First Connecticut Bancorp (NASDAQ:FBNK) opened at $27.05 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $433.52, a PE ratio of 26.52 and a beta of 0.59. First Connecticut Bancorp has a fifty-two week low of $23.15 and a fifty-two week high of $28.50.
First Connecticut Bancorp (NASDAQ:FBNK) last posted its quarterly earnings data on Wednesday, January 24th. The bank reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.02). The firm had revenue of $23.69 million for the quarter, compared to the consensus estimate of $24.89 million. First Connecticut Bancorp had a return on equity of 7.82% and a net margin of 14.46%. analysts anticipate that First Connecticut Bancorp will post 1.73 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, March 19th. Shareholders of record on Friday, March 9th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.37%. This is an increase from First Connecticut Bancorp’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, March 8th. First Connecticut Bancorp’s dividend payout ratio (DPR) is currently 62.75%.
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First Connecticut Bancorp Company Profile
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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