First Connecticut Bancorp, Inc. (NASDAQ:FBNK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.

According to Zacks, “First Connecticut Bancorp Inc. is a banking company. Farmington Bank provides commercial, consumer and banking services to businesses, individuals and governments across Central Connecticut. It also offers residential mortgage loan services along with brokerage and investment advisory services. The Company’s consumer loans include installment, demand, revolving credit and collateral loans. Its installment and collateral consumer loans generally consist of loans on new and used automobiles, loans collateralized by deposit accounts and unsecured personal loans. “

Several other equities research analysts have also recently weighed in on FBNK. Piper Jaffray Companies cut shares of First Connecticut Bancorp from an “overweight” rating to a “neutral” rating and set a $26.00 price objective for the company. in a research report on Wednesday, June 14th. BidaskClub lowered shares of First Connecticut Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, ValuEngine raised shares of First Connecticut Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, September 1st.

First Connecticut Bancorp (NASDAQ FBNK) traded down 0.55% during midday trading on Monday, reaching $27.00. 9,993 shares of the company traded hands. The stock has a market capitalization of $408.54 million, a P/E ratio of 23.26 and a beta of 0.67. First Connecticut Bancorp has a 12-month low of $16.86 and a 12-month high of $28.25. The company has a 50 day moving average of $24.43 and a 200-day moving average of $25.14.

First Connecticut Bancorp (NASDAQ:FBNK) last posted its quarterly earnings data on Friday, July 21st. The bank reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.01). First Connecticut Bancorp had a return on equity of 6.84% and a net margin of 17.10%. The firm had revenue of $23.70 million for the quarter, compared to analyst estimates of $23.36 million. Equities analysts anticipate that First Connecticut Bancorp will post $1.36 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Trexquant Investment LP bought a new position in First Connecticut Bancorp during the first quarter worth $208,000. Goldman Sachs Group Inc. bought a new position in First Connecticut Bancorp during the second quarter worth $210,000. American International Group Inc. boosted its stake in First Connecticut Bancorp by 6.8% during the first quarter. American International Group Inc. now owns 8,581 shares of the bank’s stock worth $213,000 after acquiring an additional 545 shares in the last quarter. California Public Employees Retirement System bought a new position in First Connecticut Bancorp during the second quarter worth $239,000. Finally, Oxford Asset Management bought a new position in First Connecticut Bancorp during the first quarter worth $240,000. 49.03% of the stock is currently owned by institutional investors and hedge funds.

First Connecticut Bancorp Company Profile

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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