First Connecticut Bancorp Inc. (FBNK) Stake Increased by Bank of New York Mellon Corp
Bank of New York Mellon Corp raised its position in First Connecticut Bancorp Inc. (NASDAQ:FBNK) by 7.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 105,188 shares of the company’s stock after buying an additional 7,418 shares during the period. Bank of New York Mellon Corp owned about 0.71% of First Connecticut Bancorp worth $1,742,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of FBNK. Strs Ohio raised its position in First Connecticut Bancorp by 3.2% in the second quarter. Strs Ohio now owns 38,800 shares of the company’s stock worth $642,000 after buying an additional 1,200 shares during the last quarter. Amici Capital LLC acquired a new position in First Connecticut Bancorp during the first quarter worth $239,000. 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 worth $2,080,000 after buying an additional 61,132 shares during the last quarter. Geode Capital Management LLC raised its position in First Connecticut Bancorp by 2.0% in the first quarter. Geode Capital Management LLC now owns 89,121 shares of the company’s stock worth $1,422,000 after buying an additional 1,744 shares during the last quarter. Finally, State Street Corp raised its position in First Connecticut Bancorp by 1.7% in the first quarter. State Street Corp now owns 256,564 shares of the company’s stock worth $4,094,000 after buying an additional 4,225 shares during the last quarter. 45.72% of the stock is currently owned by institutional investors and hedge funds.
First Connecticut Bancorp Inc. (NASDAQ:FBNK) traded down 1.16% on Friday, hitting $17.86. The company had a trading volume of 3,865 shares. The stock has a market capitalization of $266.33 million, a PE ratio of 19.63 and a beta of 0.43. First Connecticut Bancorp Inc. has a one year low of $14.42 and a one year high of $18.40. The stock has a 50 day moving average of $17.55 and a 200-day moving average of $16.76.
First Connecticut Bancorp (NASDAQ:FBNK) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. First Connecticut Bancorp had a return on equity of 5.45% and a net margin of 14.22%. Equities analysts anticipate that First Connecticut Bancorp Inc. will post $0.97 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, September 2nd were issued a $0.08 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $0.32 annualized dividend and a yield of 1.79%. This is a positive change from First Connecticut Bancorp’s previous quarterly dividend of $0.06. First Connecticut Bancorp’s dividend payout ratio is presently 34.78%.
In other First Connecticut Bancorp news, Director Ronald A. Bucchi sold 5,162 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $17.55, for a total value of $90,593.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Patience Peirce Mcdowell purchased 2,775 shares of the business’s stock in a transaction on Thursday, September 8th. The stock was purchased at an average price of $18.06 per share, for a total transaction of $50,116.50. Following the acquisition, the director now owns 1,783 shares of the company’s stock, valued at approximately $32,200.98. The disclosure for this purchase can be found here. 9.10% of the stock is owned by company insiders.
About First Connecticut Bancorp
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.
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