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

FBNK has been the topic of a number of other research reports. ValuEngine downgraded First Connecticut Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, November 22nd. Zacks Investment Research upgraded First Connecticut Bancorp from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Wednesday, September 6th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $26.00 price objective on shares of First Connecticut Bancorp in a research note on Sunday, September 17th.

Shares of First Connecticut Bancorp (FBNK) traded down $0.05 during midday trading on Thursday, hitting $26.00. The stock had a trading volume of 16,481 shares, compared to its average volume of 33,478. 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 $417.17, a P/E ratio of 20.92 and a beta of 0.67. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.12 and a quick ratio of 1.12.

First Connecticut Bancorp (NASDAQ:FBNK) last announced its earnings results on Wednesday, October 18th. The bank reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. First Connecticut Bancorp had a return on equity of 7.43% and a net margin of 18.24%. The firm had revenue of $24.15 million for the quarter, compared to the consensus estimate of $25.30 million. research analysts expect that First Connecticut Bancorp will post 1.35 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of FBNK. Goldman Sachs Group Inc. purchased a new position in First Connecticut Bancorp in the second quarter valued at approximately $210,000. JPMorgan Chase & Co. lifted its stake in First Connecticut Bancorp by 154.7% in the third quarter. JPMorgan Chase & Co. now owns 8,906 shares of the bank’s stock valued at $238,000 after purchasing an additional 5,410 shares during the last quarter. Citadel Advisors LLC purchased a new position in First Connecticut Bancorp in the third quarter valued at approximately $238,000. California Public Employees Retirement System purchased a new position in First Connecticut Bancorp in the second quarter valued at approximately $239,000. Finally, SG Americas Securities LLC purchased a new position in First Connecticut Bancorp in the third quarter valued at approximately $250,000. Institutional investors and hedge funds own 49.47% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “BidaskClub Lowers First Connecticut Bancorp (FBNK) to Sell” was first posted by Watch List News and is owned by of Watch List News. If you are viewing this article on another website, it was copied illegally and reposted in violation of United States and international copyright laws. The correct version of this article can be accessed at https://www.watchlistnews.com/bidaskclub-lowers-first-connecticut-bancorp-fbnk-to-sell/1750547.html.

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.

Receive News & Ratings for First Connecticut Bancorp Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Connecticut Bancorp Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.