Shares of First Connecticut Bancorp (NASDAQ:FBNK) have received a consensus broker rating score of 2.00 (Buy) from the two analysts that cover 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 90 days ago as a result of a number of analysts’ ratings changes.
Brokers have set a 12-month consensus price objective of $28.88 for the company and are forecasting that the company will post $0.43 EPS for the current quarter, according to Zacks. Zacks has also given First Connecticut Bancorp an industry rank of 111 out of 265 based on the ratings given to its competitors.
Several equities analysts have weighed in on FBNK shares. Zacks Investment Research lowered First Connecticut Bancorp from a “buy” rating to a “hold” rating in a report on Monday, December 25th. BidaskClub lowered First Connecticut Bancorp from a “sell” rating to a “strong sell” rating in a report on Friday, January 26th. Finally, Piper Jaffray upgraded First Connecticut Bancorp from a “neutral” rating to an “overweight” rating in a report on Monday, February 5th.
NASDAQ FBNK traded up $0.25 during trading on Monday, hitting $25.65. 37,874 shares of the company traded hands, compared to its average volume of 19,150. First Connecticut Bancorp has a 12 month low of $23.25 and a 12 month high of $28.50. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $405.84, a P/E ratio of 19.43 and a beta of 0.56.
First Connecticut Bancorp (NASDAQ:FBNK) last posted its earnings results on Thursday, April 19th. The bank reported $0.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.02). First Connecticut Bancorp had a net margin of 14.85% and a return on equity of 8.11%. The company had revenue of $24.07 million for the quarter, compared to the consensus estimate of $24.35 million. equities analysts expect that First Connecticut Bancorp will post 1.73 EPS for the current year.
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 document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have acquired 1,370 shares of company stock worth $34,381. Corporate insiders own 10.80% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Essex Financial Services Inc. increased its stake in shares of First Connecticut Bancorp by 5.5% in the fourth quarter. Essex Financial Services Inc. now owns 38,114 shares of the bank’s stock worth $997,000 after purchasing an additional 1,982 shares during the period. Bank of New York Mellon Corp increased its stake in shares of First Connecticut Bancorp by 2.3% in the third quarter. Bank of New York Mellon Corp now owns 110,122 shares of the bank’s stock worth $2,946,000 after purchasing an additional 2,491 shares during the period. Schwab Charles Investment Management Inc. increased 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 worth $757,000 after purchasing an additional 5,039 shares during the period. JPMorgan Chase & Co. increased its stake in shares of First Connecticut Bancorp by 154.7% in the third quarter. JPMorgan Chase & Co. now owns 8,906 shares of the bank’s stock worth $238,000 after purchasing an additional 5,410 shares during the period. Finally, OxFORD Asset Management LLP increased 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 worth $951,000 after purchasing an additional 6,185 shares during the period. Institutional investors and hedge funds own 47.27% of the company’s stock.
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About First Connecticut Bancorp
First Connecticut Bancorp, Inc operates as the holding company for Farmington Bank that provides various consumer and commercial banking services to businesses and individuals in the United States. The company offers various deposit instruments, including checking, savings, money market savings, and negotiable order of withdrawal accounts, as well as fixed-rate time deposits.
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