First Connecticut Bancorp (NASDAQ:FBNK) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Thursday.

Other analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of First Connecticut Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. ValuEngine cut shares of First Connecticut Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $26.00 price objective on shares of First Connecticut Bancorp in a research note on Sunday, September 17th.

Shares of First Connecticut Bancorp (NASDAQ FBNK) opened at $25.65 on Thursday. First Connecticut Bancorp has a 12 month low of $20.50 and a 12 month high of $28.50. The stock has a market cap of $414.78, a price-to-earnings ratio of 20.80 and a beta of 0.67. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.99.

First Connecticut Bancorp (NASDAQ:FBNK) last announced its quarterly earnings data on Wednesday, October 18th. The bank reported $0.35 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. First Connecticut Bancorp had a net margin of 18.24% and a return on equity of 7.43%. The company had revenue of $24.15 million during the quarter, compared to analysts’ expectations of $25.30 million. sell-side analysts predict that First Connecticut Bancorp will post 1.35 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in FBNK. Essex Financial Services Inc. boosted its position in First Connecticut Bancorp by 0.4% during the 2nd quarter. Essex Financial Services Inc. now owns 34,272 shares of the bank’s stock worth $879,000 after purchasing an additional 123 shares during the period. Mutual of America Capital Management LLC boosted its position in First Connecticut Bancorp by 0.8% during the 2nd quarter. Mutual of America Capital Management LLC now owns 115,272 shares of the bank’s stock worth $2,957,000 after purchasing an additional 955 shares during the period. Bank of New York Mellon Corp boosted its position in First Connecticut Bancorp by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 107,631 shares of the bank’s stock worth $2,761,000 after purchasing an additional 1,590 shares during the period. ClariVest Asset Management LLC boosted its position in First Connecticut Bancorp by 13.6% during the 3rd quarter. ClariVest Asset Management LLC now owns 29,630 shares of the bank’s stock worth $793,000 after purchasing an additional 3,543 shares during the period. Finally, Geode Capital Management LLC boosted its position in First Connecticut Bancorp by 3.9% during the 1st quarter. Geode Capital Management LLC now owns 108,014 shares of the bank’s stock worth $2,678,000 after purchasing an additional 4,019 shares during the period. 49.47% of the stock is owned by institutional investors.

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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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