First Trust Advisors LP Trims Position in First Connecticut Bancorp Inc (FBNK)

First Trust Advisors LP trimmed its position in shares of First Connecticut Bancorp Inc (NASDAQ:FBNK) by 12.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,396 shares of the bank’s stock after selling 4,603 shares during the period. First Trust Advisors LP owned about 0.21% of First Connecticut Bancorp worth $840,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Essex Financial Services Inc. increased its stake in First Connecticut Bancorp by 0.4% in the 2nd quarter. Essex Financial Services Inc. now owns 34,272 shares of the bank’s stock worth $879,000 after purchasing an additional 123 shares during the period. Mutual of America Capital Management LLC increased its stake in shares of First Connecticut Bancorp by 0.8% during the second quarter. Mutual of America Capital Management LLC now owns 115,272 shares of the bank’s stock valued at $2,957,000 after buying an additional 955 shares during the period. Bank of New York Mellon Corp increased its stake in shares of First Connecticut Bancorp by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 107,631 shares of the bank’s stock valued at $2,761,000 after buying an additional 1,590 shares during the period. Geode Capital Management LLC increased its stake in shares of First Connecticut Bancorp by 3.9% during the first quarter. Geode Capital Management LLC now owns 108,014 shares of the bank’s stock valued at $2,678,000 after buying an additional 4,019 shares during the period. Finally, TIAA CREF Investment Management LLC increased its stake in shares of First Connecticut Bancorp by 6.3% during the first quarter. TIAA CREF Investment Management LLC now owns 71,543 shares of the bank’s stock valued at $1,774,000 after buying an additional 4,237 shares during the period. 49.47% of the stock is currently owned by institutional investors.

Several research firms have recently issued reports on FBNK. ValuEngine cut First Connecticut Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Zacks Investment Research upgraded First Connecticut Bancorp from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Friday. Finally, Piper Jaffray Companies restated a “hold” rating and set a $26.00 price target on shares of First Connecticut Bancorp in a research report on Sunday, September 17th.

First Connecticut Bancorp Inc (FBNK) traded down $0.25 during trading on Friday, reaching $26.15. The company’s stock had a trading volume of 26,067 shares, compared to its average volume of 24,905. 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 Inc has a twelve month low of $20.50 and a twelve month high of $28.50. The company has a market capitalization of $417.17, a P/E ratio of 20.75 and a beta of 0.67.

First Connecticut Bancorp (NASDAQ:FBNK) last announced its quarterly earnings results on Wednesday, October 18th. The bank reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. The firm had revenue of $24.15 million for 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%. equities analysts expect that First Connecticut Bancorp Inc will post 1.35 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, December 18th. Stockholders of record on Friday, December 8th were issued a dividend of $0.15 per share. This is an increase from First Connecticut Bancorp’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Thursday, December 7th. First Connecticut Bancorp’s dividend payout ratio is presently 47.62%.

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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.

Institutional Ownership by Quarter for First Connecticut Bancorp (NASDAQ:FBNK)

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