First Connecticut Bancorp Inc. (NASDAQ:FBNK) has received 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 rating and two have given a strong buy rating to the company. First Connecticut Bancorp’s rating score has improved by 16.5% from three months ago as a result of a number of analysts’ ratings changes.
Brokers have set a 12-month consensus price target of $19.00 for the company and are expecting 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 168 out of 265 based on the ratings given to related companies.
Shares of First Connecticut Bancorp (NASDAQ:FBNK) opened at 17.86 on Friday. The firm’s 50-day moving average price is $17.55 and its 200-day moving average price is $16.76. The firm has a market capitalization of $266.33 million, a PE ratio of 19.63 and a beta of 0.43. First Connecticut Bancorp has a 52-week low of $14.42 and a 52-week high of $18.40.
First Connecticut Bancorp (NASDAQ:FBNK) last announced its earnings results on Wednesday, July 20th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.01. First Connecticut Bancorp had a return on equity of 5.45% and a net margin of 14.22%. On average, equities analysts predict that First Connecticut Bancorp will post $0.97 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, September 2nd were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.79%. This is a positive change from First Connecticut Bancorp’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Wednesday, August 31st. First Connecticut Bancorp’s payout ratio is presently 34.78%.
In other First Connecticut Bancorp news, Director Patience Peirce Mcdowell bought 2,775 shares of the company’s stock in a transaction dated Thursday, September 8th. The shares were acquired at an average cost of $18.06 per share, with a total value of $50,116.50. Following the completion of the transaction, the director now owns 1,783 shares in the company, valued at $32,200.98. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronald A. Bucchi sold 5,162 shares of First Connecticut Bancorp stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $17.55, for a total value of $90,593.10. The disclosure for this sale can be found here. Insiders own 9.10% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Stifel Financial Corp raised its stake in shares of First Connecticut Bancorp by 3.2% in the second quarter. Stifel Financial Corp now owns 46,420 shares of the company’s stock worth $769,000 after buying an additional 1,420 shares during the last quarter. Penn Capital Management Co. Inc. raised its stake in shares of First Connecticut Bancorp by 0.8% in the second quarter. Penn Capital Management Co. Inc. now owns 183,506 shares of the company’s stock valued at $3,039,000 after buying an additional 1,417 shares in the last quarter. State Street Corp raised its stake in shares of First Connecticut Bancorp by 3.0% in the second quarter. State Street Corp now owns 264,318 shares of the company’s stock valued at $4,376,000 after buying an additional 7,754 shares in the last quarter. Spark Investment Management LLC raised its stake in shares of First Connecticut Bancorp by 16.8% in the second quarter. Spark Investment Management LLC now owns 34,800 shares of the company’s stock valued at $576,000 after buying an additional 5,000 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of First Connecticut Bancorp by 1.5% in the second quarter. Alliancebernstein L.P. now owns 27,200 shares of the company’s stock valued at $450,000 after buying an additional 400 shares in the last quarter. 45.72% of the stock is currently owned by institutional investors and hedge funds.
About First Connecticut Bancorp
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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 MarketBeat.com's FREE daily email newsletter.