First Connecticut Bancorp (FBNK) Downgraded by BidaskClub

BidaskClub cut shares of First Connecticut Bancorp (NASDAQ:FBNK) from a sell rating to a strong sell rating in a report released on Friday.

Other research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded First Connecticut Bancorp from a sell rating to a buy rating and set a $30.00 price target on the stock in a research note on Tuesday, December 19th. ValuEngine cut First Connecticut Bancorp from a buy rating to a hold rating in a research note on Tuesday, October 3rd.

First Connecticut Bancorp (NASDAQ:FBNK) opened at $25.85 on Friday. The company has a market capitalization of $421.96, a PE ratio of 25.34 and a beta of 0.67. First Connecticut Bancorp has a one year low of $21.70 and a one year high of $28.50. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.12 and a current ratio of 1.12.

First Connecticut Bancorp (NASDAQ:FBNK) last issued its quarterly earnings data on Wednesday, January 24th. The bank reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.02). The company had revenue of $23.69 million for the quarter, compared to analyst estimates of $24.89 million. First Connecticut Bancorp had a return on equity of 7.85% and a net margin of 14.46%. sell-side analysts expect that First Connecticut Bancorp will post 1.61 EPS for the current year.

Large investors have recently added to or reduced their stakes in the stock. Royce & Associates LP acquired a new position in shares of First Connecticut Bancorp in the third quarter worth about $1,078,000. Wells Fargo & Company MN lifted its stake in shares of First Connecticut Bancorp by 10.2% in the second quarter. Wells Fargo & Company MN now owns 99,977 shares of the bank’s stock worth $2,564,000 after acquiring an additional 9,214 shares in the last quarter. Hillsdale Investment Management Inc. lifted its stake in shares of First Connecticut Bancorp by 40.0% in the third quarter. Hillsdale Investment Management Inc. now owns 28,000 shares of the bank’s stock worth $749,000 after acquiring an additional 8,000 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of First Connecticut Bancorp in the second quarter worth about $443,000. Finally, Parametric Portfolio Associates LLC lifted its stake in shares of First Connecticut Bancorp by 54.5% in the second quarter. Parametric Portfolio Associates LLC now owns 15,310 shares of the bank’s stock worth $393,000 after acquiring an additional 5,399 shares in the last quarter. Institutional investors and hedge funds own 49.47% of the company’s stock.

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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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