BidaskClub Lowers First Connecticut Bancorp (FBNK) to Sell
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.
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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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