Essex Financial Services Inc. cut its stake in shares of First Connecticut Bancorp Inc. (NASDAQ:FBNK) by 8.2% during the second quarter, Holdings Channel reports. The firm owned 44,236 shares of the company’s stock after selling 3,969 shares during the period. Essex Financial Services Inc.’s holdings in First Connecticut Bancorp were worth $733,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of FBNK. Strs Ohio boosted its stake in First Connecticut Bancorp by 3.2% in the second quarter. Strs Ohio now owns 38,800 shares of the company’s stock valued at $642,000 after buying an additional 1,200 shares during the period. Geode Capital Management LLC boosted its stake in First Connecticut Bancorp by 2.0% in the first quarter. Geode Capital Management LLC now owns 89,121 shares of the company’s stock valued at $1,422,000 after buying an additional 1,744 shares during the period. Amici Capital LLC purchased a new stake in First Connecticut Bancorp during the first quarter valued at $239,000. Finally, Kennedy Capital Management Inc. boosted its stake in First Connecticut Bancorp by 88.4% in the first quarter. Kennedy Capital Management Inc. now owns 130,300 shares of the company’s stock valued at $2,080,000 after buying an additional 61,132 shares during the period. 45.72% of the stock is owned by institutional investors and hedge funds.
First Connecticut Bancorp Inc. (NASDAQ:FBNK) traded up 0.57% during mid-day trading on Friday, hitting $17.51. 7,215 shares of the stock traded hands. The firm’s 50-day moving average is $17.65 and its 200-day moving average is $16.79. First Connecticut Bancorp Inc. has a 12-month low of $14.42 and a 12-month high of $18.40. The company has a market cap of $261.11 million, a price-to-earnings ratio of 19.24 and a beta of 0.43.
First Connecticut Bancorp (NASDAQ:FBNK) last issued its earnings results on Wednesday, July 20th. The company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.01. First Connecticut Bancorp had a net margin of 14.22% and a return on equity of 5.45%. Equities research analysts expect that First Connecticut Bancorp Inc. will post $0.97 EPS for the current year.
In related news, Director Patience Peirce Mcdowell acquired 2,775 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The shares were purchased at an average price of $18.06 per share, with a total value of $50,116.50. Following the completion of the acquisition, the director now owns 1,783 shares in the company, valued at $32,200.98. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald A. Bucchi sold 5,162 shares of the business’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $17.55, for a total transaction of $90,593.10. The disclosure for this sale can be found here. 9.10% of the stock is currently owned by insiders.
First Connecticut Bancorp Company Profile
First Connecticut Bancorp, Inc is a stock holding company. The Company operates through its wholly owned subsidiary Farmington Bank (the Bank), a community bank with over 20 branch locations throughout central Connecticut. The Bank offers commercial and residential lending as well as wealth management services in Connecticut and western Massachusetts.
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