First Connecticut Bancorp Inc (NASDAQ:FBNK) has earned a consensus broker rating score of 2.00 (Buy) from the two analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. First Connecticut Bancorp’s rating score has improved by 33.3% in the last 90 days as a result of various analysts’ upgrades and downgrades.
Brokerages have set a 1 year consensus price target of $28.88 for the company and are anticipating that the company will post $0.41 earnings per share for the current quarter, according to Zacks. Zacks has also given First Connecticut Bancorp an industry rank of 124 out of 265 based on the ratings given to its competitors.
Several brokerages have commented on FBNK. BidaskClub raised First Connecticut Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday. Zacks Investment Research downgraded First Connecticut Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, February 27th. Piper Jaffray Companies raised First Connecticut Bancorp from a “neutral” rating to an “overweight” rating in a research report on Monday, February 5th. Finally, ValuEngine downgraded First Connecticut Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, November 22nd.
A number of institutional investors have recently made changes to their positions in FBNK. MetLife Investment Advisors LLC purchased a new stake in shares of First Connecticut Bancorp in the 4th quarter worth $199,000. Goldman Sachs Group Inc. lifted its holdings in shares of First Connecticut Bancorp by 87.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 14,194 shares of the bank’s stock worth $371,000 after buying an additional 6,623 shares during the period. Deutsche Bank AG lifted its holdings in shares of First Connecticut Bancorp by 25.7% in the 4th quarter. Deutsche Bank AG now owns 63,754 shares of the bank’s stock worth $1,665,000 after buying an additional 13,052 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of First Connecticut Bancorp by 6.7% in the 4th quarter. Renaissance Technologies LLC now owns 348,400 shares of the bank’s stock worth $9,111,000 after buying an additional 21,952 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in shares of First Connecticut Bancorp by 161.9% in the 4th quarter. Alliancebernstein L.P. now owns 54,991 shares of the bank’s stock worth $1,438,000 after buying an additional 33,991 shares during the period. 47.33% of the stock is currently owned by institutional investors.
First Connecticut Bancorp (NASDAQ:FBNK) traded up $0.05 during midday trading on Wednesday, hitting $25.90. The stock had a trading volume of 1,696 shares, compared to its average volume of 20,086. The company has a market cap of $412.38, a P/E ratio of 25.25 and a beta of 0.59. 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 has a 52-week low of $23.15 and a 52-week high of $28.50.
First Connecticut Bancorp (NASDAQ:FBNK) last announced its quarterly earnings data on Wednesday, January 24th. The bank reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.02). The business had revenue of $23.69 million during the quarter, compared to the consensus estimate of $24.89 million. First Connecticut Bancorp had a net margin of 14.46% and a return on equity of 7.85%. research analysts expect that First Connecticut Bancorp will post 1.73 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 19th. Shareholders of record on Friday, March 9th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Thursday, March 8th. This is an increase from First Connecticut Bancorp’s previous quarterly dividend of $0.15. First Connecticut Bancorp’s dividend payout ratio is 58.82%.
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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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