First Connecticut Bancorp (FBNK) Cut to “Sell” at BidaskClub

BidaskClub lowered shares of First Connecticut Bancorp (NASDAQ:FBNK) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.

Several other research firms have also recently issued reports on FBNK. ValuEngine cut First Connecticut Bancorp from a buy rating to a hold rating in a report on Wednesday, November 22nd. Zacks Investment Research cut First Connecticut Bancorp from a hold rating to a sell rating in a report on Monday, October 23rd. Finally, Piper Jaffray Companies reaffirmed a hold rating and issued a $26.00 price target on shares of First Connecticut Bancorp in a report on Sunday, September 17th.

First Connecticut Bancorp (NASDAQ:FBNK) traded down $0.35 during trading hours on Thursday, reaching $25.65. The company had a trading volume of 24,200 shares, compared to its average volume of 33,450. The firm has a market capitalization of $409.19, a P/E ratio of 20.52 and a beta of 0.67. First Connecticut Bancorp has a fifty-two week low of $20.50 and a fifty-two week high of $28.50. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.99.

First Connecticut Bancorp (NASDAQ:FBNK) last issued its earnings results on Wednesday, October 18th. The bank reported $0.35 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.35. The company had revenue of $24.15 million during the quarter, compared to the consensus estimate of $25.30 million. First Connecticut Bancorp had a return on equity of 7.43% and a net margin of 18.24%. analysts expect that First Connecticut Bancorp will post 1.35 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 18th. Stockholders of record on Friday, December 8th will be paid a dividend of $0.15 per share. This is a boost from First Connecticut Bancorp’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Thursday, December 7th. First Connecticut Bancorp’s dividend payout ratio is 47.62%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. acquired a new stake in shares of First Connecticut Bancorp during the second quarter worth $210,000. JPMorgan Chase & Co. grew its position in First Connecticut Bancorp by 154.7% in the third quarter. JPMorgan Chase & Co. now owns 8,906 shares of the bank’s stock valued at $238,000 after purchasing an additional 5,410 shares in the last quarter. Citadel Advisors LLC bought a new position in shares of First Connecticut Bancorp in the 3rd quarter valued at about $238,000. California Public Employees Retirement System bought a new position in shares of First Connecticut Bancorp in the 2nd quarter valued at about $239,000. Finally, SG Americas Securities LLC bought a new position in shares of First Connecticut Bancorp in the 3rd quarter valued at about $250,000. Institutional investors own 49.47% of the company’s stock.

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First Connecticut Bancorp Company Profile

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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