Shares of First Connecticut Bancorp Inc (NASDAQ:FBNK) have earned a consensus broker rating score of 3.00 (Hold) from the two brokers that cover the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold recommendation.
Analysts have set a one year consensus price objective of $27.75 for the company and are anticipating that the company will post $0.35 earnings per share for the current quarter, according to Zacks. Zacks has also assigned First Connecticut Bancorp an industry rank of 16 out of 265 based on the ratings given to its competitors.
A number of research analysts have recently issued reports on the stock. ValuEngine downgraded shares of First Connecticut Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Zacks Investment Research downgraded shares of First Connecticut Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, October 23rd. Finally, BidaskClub downgraded shares of First Connecticut Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th.
Several institutional investors have recently added to or reduced their stakes in FBNK. AlphaOne Investment Services LLC acquired a new position in shares of First Connecticut Bancorp during the 2nd quarter valued at $1,181,000. Dimensional Fund Advisors LP lifted its position in shares of First Connecticut Bancorp by 11.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 433,738 shares of the bank’s stock valued at $11,602,000 after acquiring an additional 43,142 shares during the period. Wedge Capital Management L L P NC acquired a new position in shares of First Connecticut Bancorp during the 3rd quarter valued at $1,086,000. Royce & Associates LP acquired a new position in shares of First Connecticut Bancorp during the 3rd quarter valued at $1,078,000. Finally, First Trust Advisors LP lifted its position in shares of First Connecticut Bancorp by 216.2% during the 2nd quarter. First Trust Advisors LP now owns 35,999 shares of the bank’s stock valued at $923,000 after acquiring an additional 24,615 shares during the period. Institutional investors own 49.47% of the company’s stock.
First Connecticut Bancorp (NASDAQ FBNK) opened at $26.80 on Friday. The stock has a market cap of $427.54, a P/E ratio of 21.27 and a beta of 0.67. First Connecticut Bancorp has a 1 year low of $21.00 and a 1 year 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 issued its quarterly earnings results on Wednesday, October 18th. The bank reported $0.35 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.35. The firm had revenue of $24.15 million for the quarter, compared to the consensus estimate of $25.30 million. First Connecticut Bancorp had a net margin of 18.24% and a return on equity of 7.43%. equities research analysts forecast that First Connecticut Bancorp will post 1.35 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION WARNING: “Zacks: First Connecticut Bancorp Inc (FBNK) Given Average Recommendation of “Hold” by Analysts” was first published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece on another website, it was illegally copied and reposted in violation of US and international trademark and copyright laws. The original version of this piece can be read at https://www.dispatchtribunal.com/2018/01/19/zacks-first-connecticut-bancorp-inc-fbnk-given-average-recommendation-of-hold-by-analysts.html.
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.
Get a free copy of the Zacks research report on First Connecticut Bancorp (FBNK)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.