ValuEngine downgraded shares of First Connecticut Bancorp Inc (NASDAQ:FBNK) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded First Connecticut Bancorp from a hold rating to a buy rating and set a $29.00 price objective on the stock in a report on Friday, July 21st. Piper Jaffray Companies restated a hold rating and issued a $26.00 price objective on shares of First Connecticut Bancorp in a report on Sunday, September 17th. Finally, BidaskClub downgraded First Connecticut Bancorp from a buy rating to a hold rating in a report on Wednesday, July 19th.

Shares of First Connecticut Bancorp (FBNK) opened at 27.60 on Tuesday. First Connecticut Bancorp has a 12-month low of $17.32 and a 12-month high of $28.25. The stock has a market capitalization of $417.62 million, a P/E ratio of 23.77 and a beta of 0.68. The company has a 50-day moving average of $25.44 and a 200-day moving average of $25.39.

First Connecticut Bancorp (NASDAQ:FBNK) last released its quarterly earnings data on Friday, July 21st. The bank reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). First Connecticut Bancorp had a return on equity of 7.51% and a net margin of 21.11%. The firm had revenue of $23.70 million during the quarter, compared to analyst estimates of $23.36 million. Equities analysts expect that First Connecticut Bancorp will post $1.36 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, September 1st were issued a $0.14 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $0.56 dividend on an annualized basis and a yield of 2.03%. This is an increase from First Connecticut Bancorp’s previous quarterly dividend of $0.12. First Connecticut Bancorp’s dividend payout ratio is currently 48.28%.

Large investors have recently added to or reduced their stakes in the stock. Trexquant Investment LP acquired a new position in First Connecticut Bancorp in the first quarter worth approximately $208,000. Goldman Sachs Group Inc. acquired a new position in First Connecticut Bancorp during the second quarter valued at approximately $210,000. American International Group Inc. grew its holdings in First Connecticut Bancorp by 6.8% during the first quarter. American International Group Inc. now owns 8,581 shares of the bank’s stock valued at $213,000 after purchasing an additional 545 shares during the last quarter. California Public Employees Retirement System acquired a new position in First Connecticut Bancorp during the second quarter valued at approximately $239,000. Finally, Oxford Asset Management acquired a new position in First Connecticut Bancorp during the first quarter valued at approximately $240,000. Hedge funds and other institutional investors own 49.03% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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