First Connecticut Bancorp, Inc. (FBNK) Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of First Connecticut Bancorp, Inc. (NASDAQ:FBNK) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

According to Zacks, “First Connecticut Bancorp Inc. is a banking company. Farmington Bank provides commercial, consumer and banking services to businesses, individuals and governments across Central Connecticut. It also offers residential mortgage loan services along with brokerage and investment advisory services. The Company’s consumer loans include installment, demand, revolving credit and collateral loans. Its installment and collateral consumer loans generally consist of loans on new and used automobiles, loans collateralized by deposit accounts and unsecured personal loans. “

A number of other equities research analysts also recently weighed in on FBNK. Piper Jaffray Companies downgraded shares of First Connecticut Bancorp from an overweight rating to a neutral rating and set a $26.00 price target on the stock. in a research note on Wednesday, June 14th. BidaskClub downgraded shares of First Connecticut Bancorp from a buy rating to a hold rating in a research note on Wednesday, July 19th. Finally, ValuEngine upgraded shares of First Connecticut Bancorp from a hold rating to a buy rating in a research note on Friday, September 1st.

Shares of First Connecticut Bancorp (NASDAQ FBNK) traded down 0.80% during trading on Friday, hitting $24.65. 98,224 shares of the company’s stock were exchanged. The stock has a market cap of $372.98 million, a PE ratio of 21.23 and a beta of 0.67. First Connecticut Bancorp has a 1-year low of $16.86 and a 1-year high of $27.50. The stock’s 50-day moving average price is $24.38 and its 200-day moving average price is $25.09.

First Connecticut Bancorp (NASDAQ:FBNK) last posted its quarterly earnings results on Friday, July 21st. The bank reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). First Connecticut Bancorp had a net margin of 17.10% and a return on equity of 6.84%. The company had revenue of $23.70 million during the quarter, compared to analyst estimates of $23.36 million. On average, equities analysts expect that First Connecticut Bancorp will post $1.36 earnings per share for the current fiscal year.

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The firm also recently announced a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, September 1st were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This is an increase from First Connecticut Bancorp’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a yield of 2.27%. First Connecticut Bancorp’s dividend payout ratio (DPR) is currently 48.28%.

A number of large investors have recently bought and sold shares of FBNK. Russell Investments Group Ltd. boosted its position in First Connecticut Bancorp by 45.7% during the 1st quarter. Russell Investments Group Ltd. now owns 19,057 shares of the bank’s stock worth $472,000 after buying an additional 5,977 shares during the period. Mutual of America Capital Management LLC boosted its position in First Connecticut Bancorp by 1.4% during the 1st quarter. Mutual of America Capital Management LLC now owns 114,317 shares of the bank’s stock worth $2,835,000 after buying an additional 1,559 shares during the period. Trexquant Investment LP acquired a new stake in First Connecticut Bancorp during the 1st quarter worth approximately $208,000. Oxford Asset Management acquired a new stake in First Connecticut Bancorp during the 1st quarter worth approximately $240,000. Finally, Stifel Financial Corp boosted its position in First Connecticut Bancorp by 10.4% during the 1st quarter. Stifel Financial Corp now owns 57,116 shares of the bank’s stock worth $1,416,000 after buying an additional 5,392 shares during the period. Institutional investors and hedge funds own 49.03% of the company’s stock.

First Connecticut Bancorp Company 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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