Brokerages Expect First Connecticut Bancorp (FBNK) to Post $0.43 EPS

First Connecticut Bancorp (NASDAQ:FBNK) has earned an average broker rating score of 2.00 (Buy) from the two analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. First Connecticut Bancorp’s rating score has improved by 33.3% from 90 days ago as a result of a number of analysts’ ratings changes.

Brokerages have set a 1-year consensus price target of $28.88 for the company and are predicting that the company will post $0.43 earnings per share for the current quarter, according to Zacks. Zacks has also assigned First Connecticut Bancorp an industry rank of 167 out of 265 based on the ratings given to its competitors.

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FBNK has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of First Connecticut Bancorp from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Friday, December 29th. BidaskClub upgraded 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 report on Monday, February 5th.

Shares of FBNK stock opened at $26.10 on Monday. The firm has a market cap of $417.02, a PE ratio of 19.77 and a beta of 0.56. First Connecticut Bancorp has a one year low of $23.25 and a one year 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 data on Wednesday, April 18th. The bank reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.02). The firm had revenue of $24.07 million for the quarter, compared to the consensus estimate of $24.35 million. First Connecticut Bancorp had a net margin of 14.46% and a return on equity of 7.82%. equities analysts forecast that First Connecticut Bancorp will post 1.73 EPS for the current fiscal year.

In other First Connecticut Bancorp news, Director Kenneth F. Burns sold 1,000 shares of First Connecticut Bancorp stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $25.27, for a total value of $25,270.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders acquired 1,370 shares of company stock worth $34,381. 10.80% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. MetLife Investment Advisors LLC bought a new stake in First Connecticut Bancorp in the 4th quarter valued at $199,000. FNY Partners Fund LP bought a new stake in First Connecticut Bancorp in the 4th quarter valued at $200,000. JPMorgan Chase & Co. increased its holdings in First Connecticut Bancorp by 154.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,906 shares of the bank’s stock valued at $238,000 after acquiring an additional 5,410 shares during the last quarter. SG Americas Securities LLC bought a new stake in First Connecticut Bancorp in the 3rd quarter valued at $250,000. Finally, Goldman Sachs Group Inc. increased its holdings in First Connecticut Bancorp by 87.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 14,194 shares of the bank’s stock valued at $371,000 after acquiring an additional 6,623 shares during the last quarter. Institutional investors own 47.27% of the company’s stock.

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About First Connecticut Bancorp

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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