First Connecticut Bancorp (FBNK) Upgraded to Sell by BidaskClub

BidaskClub upgraded shares of First Connecticut Bancorp (NASDAQ:FBNK) from a strong sell rating to a sell rating in a research note published on Monday, February 5th.

Several other research analysts also recently commented on FBNK. Piper Jaffray Companies upgraded shares of First Connecticut Bancorp from a neutral rating to an overweight rating in a report on Monday, February 5th. Zacks Investment Research upgraded shares of First Connecticut Bancorp from a hold rating to a buy rating and set a $30.00 target price on the stock in a report on Friday, December 29th. Finally, ValuEngine downgraded shares of First Connecticut Bancorp from a buy rating to a hold rating in a report on Wednesday, November 22nd.

First Connecticut Bancorp (FBNK) traded down $0.25 during mid-day trading on Monday, hitting $24.75. 23,371 shares of the company traded hands, compared to its average volume of 20,909. 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 has a 1-year low of $23.15 and a 1-year high of $28.50. The firm has a market cap of $398.82, a price-to-earnings ratio of 24.26 and a beta of 0.61.

First Connecticut Bancorp (NASDAQ:FBNK) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $24.89 million. First Connecticut Bancorp had a net margin of 14.46% and a return on equity of 7.85%. sell-side analysts anticipate that First Connecticut Bancorp will post 1.73 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in First Connecticut Bancorp by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 107,631 shares of the bank’s stock valued at $2,761,000 after acquiring an additional 1,590 shares during the period. Essex Financial Services Inc. increased its stake in First Connecticut Bancorp by 5.5% in the fourth quarter. Essex Financial Services Inc. now owns 38,114 shares of the bank’s stock valued at $997,000 after acquiring an additional 1,982 shares during the period. Mutual of America Capital Management LLC increased its stake in First Connecticut Bancorp by 2.8% in the third quarter. Mutual of America Capital Management LLC now owns 118,530 shares of the bank’s stock valued at $3,171,000 after acquiring an additional 3,258 shares during the period. ClariVest Asset Management LLC increased its stake in First Connecticut Bancorp by 13.6% in the third quarter. ClariVest Asset Management LLC now owns 29,630 shares of the bank’s stock valued at $793,000 after acquiring an additional 3,543 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in 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 acquiring an additional 5,039 shares during the period. Institutional investors own 49.13% 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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