Shares of First Connecticut Bancorp Inc. (NASDAQ:FBNK) have been given a consensus broker rating score of 1.67 (Buy) from the three analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and two have issued a strong buy recommendation on the company. First Connecticut Bancorp’s rating score has improved by 16.5% in the last three months as a result of various analysts’ ratings changes.
Analysts have set a 12-month consensus price target of $19.00 for the company and are forecasting that the company will post $0.25 earnings per share for the current quarter, according to Zacks. Zacks has also assigned First Connecticut Bancorp an industry rank of 112 out of 265 based on the ratings given to related companies.
First Connecticut Bancorp (NASDAQ:FBNK) opened at 17.69 on Friday. The company has a 50-day moving average of $17.61 and a 200 day moving average of $16.78. The firm has a market capitalization of $263.79 million, a price-to-earnings ratio of 19.44 and a beta of 0.43. First Connecticut Bancorp has a one year low of $14.42 and a one year high of $18.40.
First Connecticut Bancorp (NASDAQ:FBNK) last released its quarterly earnings results on Wednesday, July 20th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. First Connecticut Bancorp had a net margin of 14.22% and a return on equity of 5.45%. On average, analysts anticipate that First Connecticut Bancorp will post $0.97 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, September 2nd were issued a $0.08 dividend. This is a positive change from First Connecticut Bancorp’s previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a yield of 1.81%. The ex-dividend date was Wednesday, August 31st. First Connecticut Bancorp’s dividend payout ratio (DPR) is currently 34.78%.
In related news, Director Ronald A. Bucchi sold 5,162 shares of First Connecticut Bancorp stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $17.55, for a total transaction of $90,593.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Patience Peirce Mcdowell purchased 2,775 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The shares were bought at an average cost of $18.06 per share, for a total transaction of $50,116.50. Following the completion of the acquisition, the director now directly owns 1,783 shares in the company, valued at approximately $32,200.98. The disclosure for this purchase can be found here. 9.10% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in FBNK. Nationwide Fund Advisors raised its stake in shares of First Connecticut Bancorp by 19.1% in the second quarter. Nationwide Fund Advisors now owns 42,774 shares of the company’s stock valued at $708,000 after buying an additional 6,847 shares during the period. Brandes Investment Partners LP raised its stake in shares of First Connecticut Bancorp by 5.7% in the second quarter. Brandes Investment Partners LP now owns 55,223 shares of the company’s stock valued at $914,000 after buying an additional 2,997 shares during the period. State Board of Administration of Florida Retirement System raised its stake in shares of First Connecticut Bancorp by 0.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 19,034 shares of the company’s stock valued at $315,000 after buying an additional 111 shares during the period. Hennessy Advisors Inc. raised its stake in shares of First Connecticut Bancorp by 72.9% in the second quarter. Hennessy Advisors Inc. now owns 250,670 shares of the company’s stock valued at $4,151,000 after buying an additional 105,670 shares during the period. Finally, Emerald Acquisition Ltd. bought a new stake in shares of First Connecticut Bancorp during the second quarter valued at about $159,000. 45.72% of the stock is currently owned by institutional investors.
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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