First Connecticut Bancorp, Inc. (FBNK) Stock Rating Upgraded by ValuEngine
First Connecticut Bancorp, Inc. (NASDAQ:FBNK) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Friday.
Several other research firms also recently commented on FBNK. Piper Jaffray Companies downgraded First Connecticut Bancorp from an “overweight” rating to a “neutral” rating and set a $26.00 target price for the company. in a research report on Wednesday, June 14th. BidaskClub downgraded First Connecticut Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Zacks Investment Research upgraded First Connecticut Bancorp from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Friday, July 21st.
Shares of First Connecticut Bancorp (NASDAQ:FBNK) traded up 0.20% on Friday, reaching $24.80. The company had a trading volume of 11,708 shares. First Connecticut Bancorp has a 12 month low of $16.58 and a 12 month high of $27.50. The firm has a market capitalization of $395.44 million, a PE ratio of 21.38 and a beta of 0.67. The company’s 50-day moving average is $24.87 and its 200 day moving average is $25.09.
First Connecticut Bancorp (NASDAQ:FBNK) last posted its earnings results on Friday, July 21st. The bank reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.01. The company had revenue of $23.70 million for the quarter, compared to the consensus estimate of $23.36 million. First Connecticut Bancorp had a return on equity of 6.84% and a net margin of 17.10%. Equities analysts forecast that First Connecticut Bancorp will post $1.36 earnings per share for the current year.
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A number of large investors have recently added to or reduced their stakes in the stock. Seizert Capital Partners LLC acquired a new stake in First Connecticut Bancorp during the 2nd quarter valued at $2,148,000. AJO LP acquired a new stake in First Connecticut Bancorp during the 2nd quarter valued at $1,338,000. Chicago Equity Partners LLC acquired a new stake in First Connecticut Bancorp during the 2nd quarter valued at $1,253,000. AlphaOne Investment Services LLC acquired a new stake in First Connecticut Bancorp during the 2nd quarter valued at $1,181,000. Finally, Mendon Capital Advisors Corp increased its holdings in First Connecticut Bancorp by 27.8% during the 1st quarter. Mendon Capital Advisors Corp now owns 185,854 shares of the bank’s stock valued at $4,609,000 after purchasing an additional 40,443 shares in the last quarter. 49.03% of the stock is owned by hedge funds and other institutional investors.
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.
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