Renaissance Technologies LLC boosted its position in First Connecticut Bancorp (NASDAQ:FBNK) by 6.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 348,400 shares of the bank’s stock after acquiring an additional 21,952 shares during the quarter. Renaissance Technologies LLC owned 2.18% of First Connecticut Bancorp worth $9,111,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Alliancebernstein L.P. raised its holdings in First Connecticut Bancorp by 161.9% in the fourth quarter. Alliancebernstein L.P. now owns 54,991 shares of the bank’s stock valued at $1,438,000 after acquiring an additional 33,991 shares in the last quarter. AlphaOne Investment Services LLC raised its holdings in First Connecticut Bancorp by 25.1% in the fourth quarter. AlphaOne Investment Services LLC now owns 52,810 shares of the bank’s stock valued at $1,381,000 after acquiring an additional 10,610 shares in the last quarter. Royce & Associates LP raised its holdings in First Connecticut Bancorp by 99.3% in the fourth quarter. Royce & Associates LP now owns 80,300 shares of the bank’s stock valued at $2,100,000 after acquiring an additional 40,000 shares in the last quarter. BlackRock Inc. raised its holdings in First Connecticut Bancorp by 6.5% in the fourth quarter. BlackRock Inc. now owns 1,089,232 shares of the bank’s stock valued at $28,484,000 after acquiring an additional 66,431 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in First Connecticut Bancorp by 4.2% in the fourth quarter. Bank of New York Mellon Corp now owns 114,742 shares of the bank’s stock valued at $3,000,000 after acquiring an additional 4,620 shares in the last quarter. 47.30% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently weighed in on FBNK shares. Zacks Investment Research raised shares of First Connecticut Bancorp from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Friday, December 29th. BidaskClub raised shares of First Connecticut Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, March 3rd. Finally, Piper Jaffray upgraded shares of First Connecticut Bancorp from a “neutral” rating to an “overweight” rating in a research note on Monday, February 5th.
Shares of First Connecticut Bancorp stock opened at $25.35 on Friday. The company has a market capitalization of $405.04, a price-to-earnings ratio of 19.20 and a beta of 0.56. First Connecticut Bancorp has a 52 week low of $23.25 and a 52 week high of $28.50. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.11 and a current ratio of 1.11.
First Connecticut Bancorp (NASDAQ:FBNK) last announced its quarterly earnings results on Wednesday, January 24th. The bank reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 7.82%. analysts anticipate that First Connecticut Bancorp will post 1.73 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, March 19th. Shareholders of record on Friday, March 9th were paid 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 annualized dividend and a yield of 2.52%. The ex-dividend date was Thursday, March 8th. First Connecticut Bancorp’s dividend payout ratio is currently 48.48%.
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First Connecticut Bancorp Company Profile
First Connecticut Bancorp, Inc operates as the holding company for Farmington Bank that provides various consumer and commercial banking services to businesses and individuals in the United States. The company offers various deposit instruments, including checking, savings, money market savings, and negotiable order of withdrawal accounts, as well as fixed-rate time deposits.
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