Wall Street analysts predict that First Connecticut Bancorp (NASDAQ:FBNK) will post sales of $25.25 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for First Connecticut Bancorp’s earnings. The highest sales estimate is $25.49 million and the lowest is $25.00 million. First Connecticut Bancorp posted sales of $23.70 million in the same quarter last year, which suggests a positive year-over-year growth rate of 6.5%. The business is scheduled to report its next quarterly earnings results on Wednesday, July 18th.
According to Zacks, analysts expect that First Connecticut Bancorp will report full year sales of $101.93 million for the current financial year, with estimates ranging from $101.10 million to $102.76 million. For the next fiscal year, analysts forecast that the company will post sales of $111.66 million per share, with estimates ranging from $109.50 million to $113.82 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for First Connecticut Bancorp.
First Connecticut Bancorp (NASDAQ:FBNK) last posted its quarterly earnings data on Thursday, April 19th. The bank reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). The business had revenue of $24.07 million during the quarter, compared to analyst estimates of $24.35 million. First Connecticut Bancorp had a net margin of 14.85% and a return on equity of 8.07%.
A number of research firms have commented on FBNK. BidaskClub lowered shares of First Connecticut Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Zacks Investment Research lowered shares of First Connecticut Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, April 24th. Finally, Piper Jaffray upgraded shares of First Connecticut Bancorp from a “neutral” rating to an “overweight” rating in a research note on Monday, February 5th.
NASDAQ FBNK traded down $0.20 during trading on Friday, reaching $25.50. The company’s stock had a trading volume of 469 shares, compared to its average volume of 23,937. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.11 and a current ratio of 1.14. The firm has a market cap of $412.54 million, a PE ratio of 19.32 and a beta of 0.57. First Connecticut Bancorp has a twelve month low of $25.50 and a twelve month high of $25.70.
In other First Connecticut Bancorp news, Director Kenneth F. Burns sold 1,000 shares of First Connecticut Bancorp stock in a transaction on Friday, February 23rd. The shares were 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 is available through this link. Insiders own 10.80% of the company’s stock.
Large investors have recently modified their holdings of the company. MetLife Investment Advisors LLC purchased a new stake in shares of First Connecticut Bancorp in the fourth quarter valued at about $199,000. FNY Partners Fund LP purchased a new stake in shares of First Connecticut Bancorp in the fourth quarter valued at about $200,000. LSV Asset Management purchased a new stake in shares of First Connecticut Bancorp in the first quarter valued at about $202,000. JPMorgan Chase & Co. boosted its holdings 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 valued at $238,000 after acquiring an additional 5,410 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of First Connecticut Bancorp by 87.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 14,194 shares of the bank’s stock valued at $371,000 after acquiring an additional 6,623 shares in the last quarter. 47.03% of the stock is currently owned by institutional investors and hedge funds.
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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