Teton Advisors Inc. Takes Position in First Connecticut Bancorp (FBNK)

Teton Advisors Inc. bought a new stake in shares of First Connecticut Bancorp (NASDAQ:FBNK) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 18,700 shares of the bank’s stock, valued at approximately $479,000. Teton Advisors Inc. owned approximately 0.12% of First Connecticut Bancorp as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of FBNK. MetLife Investment Advisors LLC purchased a new position in First Connecticut Bancorp during the fourth quarter valued at $199,000. FNY Partners Fund LP purchased a new position in First Connecticut Bancorp during the fourth quarter valued at $200,000. LSV Asset Management purchased a new position in First Connecticut Bancorp during the first quarter valued at $202,000. Goldman Sachs Group Inc. grew its stake in First Connecticut Bancorp by 87.5% during the fourth 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 in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in First Connecticut Bancorp by 21.1% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 28,939 shares of the bank’s stock valued at $757,000 after acquiring an additional 5,039 shares in the last quarter. 46.78% of the stock is owned by institutional investors.

Shares of First Connecticut Bancorp opened at $25.90 on Thursday, MarketBeat reports. 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 1.28, a current ratio of 1.14 and a quick ratio of 1.13. The firm has a market capitalization of $414.94 million, a price-to-earnings ratio of 19.62 and a beta of 0.57.

First Connecticut Bancorp (NASDAQ:FBNK) last posted its quarterly earnings results on Thursday, April 19th. The bank reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.02). First Connecticut Bancorp had a return on equity of 8.07% and a net margin of 14.85%. The firm had revenue of $24.07 million for the quarter, compared to analysts’ expectations of $24.35 million. research analysts expect that First Connecticut Bancorp will post 1.7 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, June 11th. Stockholders of record on Friday, June 1st will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, May 31st. This is an increase from First Connecticut Bancorp’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.63%. First Connecticut Bancorp’s dividend payout ratio (DPR) is 48.48%.

Several equities analysts recently weighed in on the stock. BidaskClub raised shares of First Connecticut Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, May 12th. Zacks Investment Research cut shares of First Connecticut Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, April 24th. Finally, Piper Jaffray Companies raised shares of First Connecticut Bancorp from a “neutral” rating to an “overweight” rating in a research note on Monday, February 5th.

In other news, Director Kenneth F. Burns sold 1,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $25.27, for a total transaction of $25,270.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 10.80% of the stock is owned by company insiders.

First Connecticut Bancorp 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.

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

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