Piper Jaffray Companies restated their hold rating on shares of First Connecticut Bancorp, Inc. (NASDAQ:FBNK) in a research report sent to investors on Sunday morning. The firm currently has a $26.00 price objective on the bank’s stock.

A number of other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of First Connecticut Bancorp from a buy rating to a hold rating in a research note on Friday. ValuEngine upgraded shares of First Connecticut Bancorp from a hold rating to a buy rating in a report on Friday, September 1st. Finally, BidaskClub upgraded shares of First Connecticut Bancorp from a strong sell rating to a sell rating in a report on Friday, August 25th.

Shares of First Connecticut Bancorp (NASDAQ FBNK) opened at 24.65 on Friday. First Connecticut Bancorp has a 52 week low of $16.86 and a 52 week high of $27.50. The firm has a market cap of $372.98 million, a P/E ratio of 21.23 and a beta of 0.67. The stock’s 50 day moving average is $24.38 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). The firm had revenue of $23.70 million for the quarter, compared to analyst estimates of $23.36 million. First Connecticut Bancorp had a net margin of 17.10% and a return on equity of 6.84%. On average, equities research analysts predict 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 issued a $0.14 dividend. This is an increase from First Connecticut Bancorp’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Wednesday, August 30th. First Connecticut Bancorp’s payout ratio is presently 48.28%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Essex Financial Services Inc. raised its holdings in shares of First Connecticut Bancorp by 0.4% during the second quarter. Essex Financial Services Inc. now owns 34,272 shares of the bank’s stock valued at $879,000 after acquiring an additional 123 shares during the period. Bank of America Corp DE raised its holdings in shares of First Connecticut Bancorp by 0.4% during the first quarter. Bank of America Corp DE now owns 126,499 shares of the bank’s stock valued at $3,138,000 after acquiring an additional 541 shares during the period. American International Group Inc. raised its holdings in shares of First Connecticut Bancorp by 6.8% during the first quarter. American International Group Inc. now owns 8,581 shares of the bank’s stock valued at $213,000 after acquiring an additional 545 shares during the period. Mutual of America Capital Management LLC raised its holdings in shares of First Connecticut Bancorp by 0.8% during the second quarter. Mutual of America Capital Management LLC now owns 115,272 shares of the bank’s stock valued at $2,957,000 after acquiring an additional 955 shares during the period. Finally, FMR LLC raised its holdings in shares of First Connecticut Bancorp by 0.6% during the first quarter. FMR LLC now owns 204,900 shares of the bank’s stock valued at $5,081,000 after acquiring an additional 1,300 shares during the period. Institutional investors and hedge funds own 49.03% of the company’s stock.

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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