Kennedy Capital Management Inc. decreased its position in shares of First Connecticut Bancorp Inc (NASDAQ:FBNK) by 3.5% during the fourth quarter, HoldingsChannel reports. The firm owned 120,551 shares of the bank’s stock after selling 4,390 shares during the period. Kennedy Capital Management Inc.’s holdings in First Connecticut Bancorp were worth $3,152,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in First Connecticut Bancorp by 6.5% during the fourth quarter. BlackRock Inc. now owns 1,089,232 shares of the bank’s stock valued at $28,484,000 after purchasing an additional 66,431 shares in the last quarter. Dimensional Fund Advisors LP raised its position in First Connecticut Bancorp by 11.0% during the third quarter. Dimensional Fund Advisors LP now owns 433,738 shares of the bank’s stock valued at $11,602,000 after purchasing an additional 43,142 shares in the last quarter. State Street Corp raised its position in First Connecticut Bancorp by 8.1% during the second quarter. State Street Corp now owns 314,924 shares of the bank’s stock valued at $8,079,000 after purchasing an additional 23,657 shares in the last quarter. Northern Trust Corp raised its position in First Connecticut Bancorp by 7.8% during the second quarter. Northern Trust Corp now owns 178,477 shares of the bank’s stock valued at $4,577,000 after purchasing an additional 12,860 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in First Connecticut Bancorp by 37.1% during the fourth quarter. Wells Fargo & Company MN now owns 136,614 shares of the bank’s stock valued at $3,572,000 after purchasing an additional 36,998 shares in the last quarter. Institutional investors and hedge funds own 47.33% of the company’s stock.
First Connecticut Bancorp Inc (NASDAQ FBNK) opened at $27.10 on Wednesday. The company has a market capitalization of $436.72, a PE ratio of 20.72 and a beta of 0.59. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.99. First Connecticut Bancorp Inc has a twelve month low of $23.15 and a twelve month high of $28.50.
First Connecticut Bancorp (NASDAQ:FBNK) last released its quarterly earnings data on Wednesday, January 24th. The bank reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.02). The company had revenue of $23.69 million during the quarter, compared to analysts’ expectations of $24.89 million. First Connecticut Bancorp had a return on equity of 7.85% and a net margin of 14.46%. research analysts expect that First Connecticut Bancorp Inc will post 1.73 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 19th. Stockholders of record on Friday, March 9th will be issued a $0.16 dividend. The ex-dividend date is Thursday, March 8th. This represents a $0.64 annualized dividend and a dividend yield of 2.36%. This is an increase from First Connecticut Bancorp’s previous quarterly dividend of $0.15. First Connecticut Bancorp’s payout ratio is currently 62.75%.
Several research analysts have recently commented on FBNK shares. BidaskClub downgraded First Connecticut Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. Zacks Investment Research upgraded First Connecticut Bancorp from a “sell” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Tuesday, December 19th. Piper Jaffray Companies upgraded First Connecticut Bancorp from a “neutral” rating to an “overweight” rating in a report on Monday, February 5th. Finally, ValuEngine downgraded First Connecticut Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, November 22nd.
In other news, Director Kenneth F. Burns sold 1,000 shares of First Connecticut Bancorp stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $25.27, for a total value of $25,270.00. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders bought 1,370 shares of company stock worth $34,381. Company insiders own 10.70% of the company’s stock.
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First Connecticut Bancorp 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.
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