Piper Jaffray Cos. lowered shares of First Connecticut Bancorp Inc. (NASDAQ:FBNK) from an overweight rating to a neutral rating in a report released on Wednesday.

First Connecticut Bancorp (NASDAQ:FBNK) traded up 0.24% during midday trading on Wednesday, hitting $20.80. The stock had a trading volume of 15,670 shares. The firm has a market capitalization of $328.83 billion, a price-to-earnings ratio of 30.14 and a beta of 0.45. First Connecticut Bancorp has a 1-year low of $14.42 and a 1-year high of $21.40. The firm has a 50-day moving average price of $18.23 and a 200-day moving average price of $17.13.

First Connecticut Bancorp (NASDAQ:FBNK) last released its quarterly earnings data on Wednesday, October 19th. The company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01. First Connecticut Bancorp had a return on equity of 5.32% and a net margin of 13.60%. On average, equities research analysts anticipate that First Connecticut Bancorp will post $0.98 earnings per share for the current year.

In other news, Director Patience Peirce Mcdowell bought 2,775 shares of the business’s stock in a transaction on Thursday, September 8th. The shares were purchased at an average price of $18.06 per share, for a total transaction of $50,116.50. Following the purchase, the director now owns 1,783 shares of the company’s stock, valued at approximately $32,200.98. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ronald A. Bucchi sold 5,162 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $17.55, for a total value of $90,593.10. The disclosure for this sale can be found here. 9.10% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Kennedy Capital Management Inc. raised its position in First Connecticut Bancorp by 88.4% in the first quarter. Kennedy Capital Management Inc. now owns 130,300 shares of the company’s stock valued at $2,080,000 after buying an additional 61,132 shares during the period. Brandes Investment Partners LP raised its position in First Connecticut Bancorp by 5.7% in the second quarter. Brandes Investment Partners LP now owns 55,223 shares of the company’s stock valued at $914,000 after buying an additional 2,997 shares during the period. Amici Capital LLC bought a new position in First Connecticut Bancorp during the first quarter valued at $239,000. Bank of New York Mellon Corp raised its position in First Connecticut Bancorp by 7.6% in the second quarter. Bank of New York Mellon Corp now owns 105,188 shares of the company’s stock valued at $1,742,000 after buying an additional 7,418 shares during the period. Finally, Emerald Acquisition Ltd. bought a new position in First Connecticut Bancorp during the second quarter valued at $159,000. Hedge funds and other institutional investors own 45.99% of the company’s stock.

First Connecticut Bancorp Company Profile

First Connecticut Bancorp, Inc is a stock holding company. The Company operates through its wholly owned subsidiary Farmington Bank (the Bank), a community bank with over 20 branch locations throughout central Connecticut. The Bank offers commercial and residential lending as well as wealth management services in Connecticut and western Massachusetts.

5 Day Chart for NASDAQ:FBNK

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