First Connecticut Bancorp (NASDAQ:FBNK) – Analysts at FIG Partners reduced their FY2018 earnings per share (EPS) estimates for First Connecticut Bancorp in a report released on Monday, April 23rd. FIG Partners analyst D. Bishop now forecasts that the bank will earn $1.64 per share for the year, down from their prior forecast of $1.67. FIG Partners also issued estimates for First Connecticut Bancorp’s Q2 2019 earnings at $0.45 EPS, Q3 2019 earnings at $0.47 EPS, Q4 2019 earnings at $0.50 EPS and FY2019 earnings at $1.87 EPS.
First Connecticut Bancorp (NASDAQ:FBNK) last issued its quarterly earnings data on Thursday, April 19th. The bank reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). First Connecticut Bancorp had a net margin of 14.85% and a return on equity of 8.11%. The business had revenue of $24.07 million for the quarter, compared to analyst estimates of $24.35 million.
A number of other brokerages have also weighed in on FBNK. Zacks Investment Research lowered First Connecticut Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, December 25th. BidaskClub upgraded First Connecticut Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, March 3rd. Finally, Piper Jaffray upgraded First Connecticut Bancorp from a “neutral” rating to an “overweight” rating in a research report on Monday, February 5th.
Shares of NASDAQ FBNK opened at $25.75 on Tuesday. First Connecticut Bancorp has a fifty-two week low of $23.25 and a fifty-two week high of $28.50. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.94. The company has a market cap of $409.83, a price-to-earnings ratio of 19.51 and a beta of 0.56.
In other news, Director Kenneth F. Burns sold 1,000 shares of First Connecticut Bancorp 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders bought 1,370 shares of company stock valued at $34,381. Insiders own 10.80% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of FBNK. MetLife Investment Advisors LLC acquired a new position in shares of First Connecticut Bancorp in the 4th quarter worth approximately $199,000. FNY Partners Fund LP acquired a new position in shares of First Connecticut Bancorp in the 4th quarter worth approximately $200,000. JPMorgan Chase & Co. grew its position in shares of First Connecticut Bancorp by 154.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,906 shares of the bank’s stock worth $238,000 after acquiring an additional 5,410 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of First Connecticut Bancorp by 87.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 14,194 shares of the bank’s stock worth $371,000 after acquiring an additional 6,623 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in shares of First Connecticut Bancorp by 21.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 28,939 shares of the bank’s stock worth $757,000 after acquiring an additional 5,039 shares in the last quarter. Institutional investors own 47.29% of the company’s stock.
First Connecticut Bancorp Company Profile
First Connecticut Bancorp, Inc operates as the holding company for Farmington Bank that provides various consumer and commercial banking services to businesses and individuals in the United States. The company offers various deposit instruments, including checking, savings, money market savings, and negotiable order of withdrawal accounts, as well as fixed-rate time deposits.
Receive News & Ratings for First Connecticut Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Connecticut Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.