First Trust Advisors LP Sells 4,603 Shares of First Connecticut Bancorp Inc (FBNK)

First Trust Advisors LP decreased its stake in shares of First Connecticut Bancorp Inc (NASDAQ:FBNK) by 12.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,396 shares of the bank’s stock after selling 4,603 shares during the quarter. First Trust Advisors LP owned about 0.21% of First Connecticut Bancorp worth $840,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in FBNK. TIAA CREF Investment Management LLC raised its stake in First Connecticut Bancorp by 6.3% during the first quarter. TIAA CREF Investment Management LLC now owns 71,543 shares of the bank’s stock valued at $1,774,000 after buying an additional 4,237 shares during the last quarter. Vanguard Group Inc. raised its stake in First Connecticut Bancorp by 1.2% during the first quarter. Vanguard Group Inc. now owns 562,763 shares of the bank’s stock valued at $13,956,000 after buying an additional 6,464 shares during the last quarter. Geode Capital Management LLC raised its stake in First Connecticut Bancorp by 3.9% during the first quarter. Geode Capital Management LLC now owns 108,014 shares of the bank’s stock valued at $2,678,000 after buying an additional 4,019 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in First Connecticut Bancorp by 5.8% during the first quarter. Dimensional Fund Advisors LP now owns 359,878 shares of the bank’s stock valued at $8,925,000 after buying an additional 19,589 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in First Connecticut Bancorp by 1.5% during 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 buying an additional 1,590 shares during the last quarter. Institutional investors and hedge funds own 49.47% of the company’s stock.

First Connecticut Bancorp Inc (NASDAQ:FBNK) opened at $26.05 on Thursday. First Connecticut Bancorp Inc has a one year low of $20.50 and a one year high of $28.50. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $417.17, a price-to-earnings ratio of 20.92 and a beta of 0.67.

First Connecticut Bancorp (NASDAQ:FBNK) last posted its quarterly earnings results on Wednesday, October 18th. The bank reported $0.35 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. First Connecticut Bancorp had a return on equity of 7.43% and a net margin of 18.24%. The firm had revenue of $24.15 million during the quarter, compared to analysts’ expectations of $25.30 million. research analysts expect that First Connecticut Bancorp Inc will post 1.35 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 18th. Stockholders of record on Friday, December 8th will be paid a $0.15 dividend. The ex-dividend date is Thursday, December 7th. This represents a $0.60 annualized dividend and a dividend yield of 2.30%. This is a boost from First Connecticut Bancorp’s previous quarterly dividend of $0.14. First Connecticut Bancorp’s payout ratio is currently 44.44%.

A number of brokerages have issued reports on FBNK. BidaskClub cut First Connecticut Bancorp from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. ValuEngine cut First Connecticut Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Zacks Investment Research cut First Connecticut Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $26.00 price target on shares of First Connecticut Bancorp in a research note on Sunday, September 17th.

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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.

Institutional Ownership by Quarter for First Connecticut Bancorp (NASDAQ:FBNK)

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