First Connecticut Bancorp Inc (NASDAQ:FBNK) has 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 research analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. First Connecticut Bancorp’s rating score has improved by 33.3% from three months ago as a result of a number of analysts’ ratings changes.
Analysts have set a 1 year consensus price objective of $28.88 for the company and are anticipating that the company will post $0.41 earnings per share for the current quarter, according to Zacks. Zacks has also given First Connecticut Bancorp an industry rank of 15 out of 265 based on the ratings given to related companies.
Several research firms have issued reports on FBNK. BidaskClub cut First Connecticut Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Piper Jaffray Companies raised First Connecticut Bancorp from a “neutral” rating to an “overweight” rating in a research note on Monday. Zacks Investment Research raised First Connecticut Bancorp from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Friday, December 29th. Finally, ValuEngine cut First Connecticut Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, November 22nd.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Mutual of America Capital Management LLC grew its stake in shares of First Connecticut Bancorp by 5.8% in the fourth quarter. Mutual of America Capital Management LLC now owns 125,454 shares of the bank’s stock valued at $3,281,000 after buying an additional 6,924 shares in the last quarter. FNY Partners Fund LP acquired a new stake in shares of First Connecticut Bancorp in the fourth quarter valued at $200,000. Schwab Charles Investment Management Inc. grew its stake in shares of First Connecticut Bancorp by 21.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 28,939 shares of the bank’s stock valued at $757,000 after buying an additional 5,039 shares in the last quarter. Royce & Associates LP acquired a new stake in shares of First Connecticut Bancorp in the third quarter valued at $1,078,000. Finally, OxFORD Asset Management LLP grew its stake in shares of First Connecticut Bancorp by 21.1% in the third quarter. OxFORD Asset Management LLP now owns 35,436 shares of the bank’s stock valued at $951,000 after buying an additional 6,185 shares in the last quarter. 49.33% of the stock is owned by institutional investors and hedge funds.
First Connecticut Bancorp (NASDAQ:FBNK) traded down $0.20 during mid-day trading on Friday, reaching $25.05. The company’s stock had a trading volume of 5,068 shares, compared to its average volume of 19,497. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $394.84, a PE ratio of 24.56 and a beta of 0.61. First Connecticut Bancorp has a one year low of $22.95 and a one year high of $28.50.
First Connecticut Bancorp (NASDAQ:FBNK) last posted its earnings results on Wednesday, January 24th. The bank reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). The business 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%. analysts predict that First Connecticut Bancorp will post 1.59 EPS for the current fiscal year.
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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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