First Connecticut Bancorp (FBNK) Upgraded to “Overweight” at Piper Jaffray Companies

Piper Jaffray Companies upgraded shares of First Connecticut Bancorp (NASDAQ:FBNK) from a neutral rating to an overweight rating in a research note published on Monday, Marketbeat Ratings reports.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research upgraded First Connecticut Bancorp from a sell rating to a buy rating and set a $30.00 target price on the stock in a research report on Tuesday, December 19th. ValuEngine downgraded First Connecticut Bancorp from a buy rating to a hold rating in a research report on Wednesday, November 22nd. Finally, BidaskClub downgraded First Connecticut Bancorp from a hold rating to a sell rating in a research report on Thursday, December 7th.

First Connecticut Bancorp (FBNK) opened at $25.50 on Monday. First Connecticut Bancorp has a twelve month low of $22.95 and a twelve month high of $28.50. The firm has a market capitalization of $394.84, a price-to-earnings ratio of 24.56 and a beta of 0.61. 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, January 24th. The bank reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). First Connecticut Bancorp had a net margin of 14.46% and a return on equity of 7.85%. The firm had revenue of $23.69 million for the quarter, compared to the consensus estimate of $24.89 million. equities research analysts predict that First Connecticut Bancorp will post 1.59 EPS for the current year.

Several large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its position in shares of First Connecticut Bancorp by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 107,631 shares of the bank’s stock worth $2,761,000 after acquiring an additional 1,590 shares in the last quarter. Essex Financial Services Inc. lifted its position in shares of First Connecticut Bancorp by 5.5% during the fourth quarter. Essex Financial Services Inc. now owns 38,114 shares of the bank’s stock worth $997,000 after acquiring an additional 1,982 shares in the last quarter. Mutual of America Capital Management LLC lifted its position in shares of First Connecticut Bancorp by 2.8% during the third quarter. Mutual of America Capital Management LLC now owns 118,530 shares of the bank’s stock worth $3,171,000 after acquiring an additional 3,258 shares in the last quarter. ClariVest Asset Management LLC lifted its position in shares of First Connecticut Bancorp by 13.6% during the third quarter. ClariVest Asset Management LLC now owns 29,630 shares of the bank’s stock worth $793,000 after acquiring an additional 3,543 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of First Connecticut Bancorp by 21.1% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 28,939 shares of the bank’s stock worth $757,000 after acquiring an additional 5,039 shares in the last quarter. Hedge funds and other institutional investors own 49.33% of the company’s stock.

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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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