Clover Partners L.P. reduced its position in First Connecticut Bancorp Inc (NASDAQ:FBNK) by 75.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,050 shares of the bank’s stock after selling 433,446 shares during the period. First Connecticut Bancorp makes up 3.6% of Clover Partners L.P.’s investment portfolio, making the stock its 12th largest holding. Clover Partners L.P.’s holdings in First Connecticut Bancorp were worth $3,767,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of FBNK. Northern Trust Corp lifted its holdings in shares of First Connecticut Bancorp by 7.8% in the 2nd quarter. Northern Trust Corp now owns 178,477 shares of the bank’s stock worth $4,577,000 after purchasing an additional 12,860 shares in the last quarter. California Public Employees Retirement System bought a new position in shares of First Connecticut Bancorp in the 2nd quarter worth $239,000. Parametric Portfolio Associates LLC lifted its holdings in shares of First Connecticut Bancorp by 54.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 15,310 shares of the bank’s stock worth $393,000 after purchasing an additional 5,399 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of First Connecticut Bancorp by 8.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 390,596 shares of the bank’s stock worth $10,019,000 after purchasing an additional 30,718 shares in the last quarter. Finally, Goldman Sachs Group Inc. bought a new position in shares of First Connecticut Bancorp in the 2nd quarter worth $210,000. Institutional investors own 47.33% of the company’s stock.
FBNK has been the topic of a number of recent research reports. Piper Jaffray Companies upgraded First Connecticut Bancorp from a “neutral” rating to an “overweight” rating in a report on Monday, February 5th. Zacks Investment Research upgraded First Connecticut Bancorp from a “sell” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Tuesday, December 19th. ValuEngine cut First Connecticut Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, November 22nd. Finally, BidaskClub upgraded First Connecticut Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, March 3rd.
First Connecticut Bancorp Inc (NASDAQ:FBNK) opened at $27.10 on Wednesday. The stock has a market capitalization of $436.72, a price-to-earnings ratio of 20.72 and a beta of 0.59. First Connecticut Bancorp Inc has a twelve month low of $23.15 and a twelve month high of $28.50. 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 released its quarterly earnings results on Wednesday, January 24th. The bank reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The company had revenue of $23.69 million during the quarter, compared to analysts’ expectations of $24.89 million. First Connecticut Bancorp had a net margin of 14.46% and a return on equity of 7.85%. analysts predict that First Connecticut Bancorp Inc will post 1.73 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 19th. Investors of record on Friday, March 9th will be given a $0.16 dividend. This is a positive change from First Connecticut Bancorp’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Thursday, March 8th. First Connecticut Bancorp’s dividend payout ratio is presently 62.75%.
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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