First Connecticut Bancorp (NASDAQ:FBNK) Downgraded by ValuEngine to Hold

First Connecticut Bancorp (NASDAQ:FBNK) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Wednesday, November 22nd.

Other equities analysts have also recently issued reports about the stock. BidaskClub cut shares of First Connecticut Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Zacks Investment Research cut shares of First Connecticut Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, September 15th. Finally, Piper Jaffray Companies reaffirmed 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 (NASDAQ FBNK) opened at $26.55 on Wednesday. First Connecticut Bancorp has a 12-month low of $20.50 and a 12-month high of $28.50. The firm has a market cap of $421.96, a price-to-earnings ratio of 21.16 and a beta of 0.67. 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 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. First Connecticut Bancorp had a net margin of 18.24% and a return on equity of 7.43%. The company had revenue of $24.15 million during the quarter, compared to analysts’ expectations of $25.30 million. equities analysts forecast that First Connecticut Bancorp will post 1.35 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Essex Financial Services Inc. lifted its position in shares of First Connecticut Bancorp by 0.4% in the 2nd quarter. Essex Financial Services Inc. now owns 34,272 shares of the bank’s stock worth $879,000 after purchasing an additional 123 shares during the period. Bank of America Corp DE lifted its position in shares of First Connecticut Bancorp by 0.4% in the 1st quarter. Bank of America Corp DE now owns 126,499 shares of the bank’s stock worth $3,138,000 after purchasing an additional 541 shares during the period. American International Group Inc. lifted its position in shares of First Connecticut Bancorp by 6.8% in the 1st quarter. American International Group Inc. now owns 8,581 shares of the bank’s stock worth $213,000 after purchasing an additional 545 shares during the period. Mutual of America Capital Management LLC lifted its position in shares of First Connecticut Bancorp by 0.8% during the 2nd quarter. Mutual of America Capital Management LLC now owns 115,272 shares of the bank’s stock valued at $2,957,000 after acquiring an additional 955 shares during the period. Finally, FMR LLC lifted its position in shares of First Connecticut Bancorp by 0.6% during the 1st quarter. FMR LLC now owns 204,900 shares of the bank’s stock valued at $5,081,000 after acquiring an additional 1,300 shares during the period. 49.47% of the stock is currently owned by hedge funds and other institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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