First Connecticut Bancorp, Inc. (NASDAQ:FBNK)‘s stock had its “hold” rating reissued by analysts at Piper Jaffray Companies in a note issued to investors on Sunday. They presently have a $26.00 price objective on the bank’s stock. Piper Jaffray Companies’ price target points to a potential upside of 5.48% from the company’s current price.

A number of other research analysts have also recently issued reports on the company. Zacks Investment Research cut First Connecticut Bancorp from a “buy” rating to a “hold” rating in a research note on Friday. ValuEngine upgraded First Connecticut Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, BidaskClub upgraded First Connecticut Bancorp from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th.

First Connecticut Bancorp (NASDAQ FBNK) opened at 24.65 on Friday. The firm has a 50-day moving average of $24.38 and a 200 day moving average of $25.09. The firm has a market cap of $372.98 million, a P/E ratio of 21.23 and a beta of 0.67. First Connecticut Bancorp has a 1-year low of $16.86 and a 1-year high of $27.50.

First Connecticut Bancorp (NASDAQ:FBNK) last announced its quarterly earnings data on Friday, July 21st. The bank reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.01). The company had revenue of $23.70 million for the quarter, compared to analysts’ expectations of $23.36 million. First Connecticut Bancorp had a net margin of 17.10% and a return on equity of 6.84%. On average, analysts predict that First Connecticut Bancorp will post $1.36 EPS for the current year.

TRADEMARK VIOLATION WARNING: This story was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this story on another domain, it was illegally copied and republished in violation of United States and international copyright & trademark law. The legal version of this story can be accessed at https://www.americanbankingnews.com/2017/09/17/first-connecticut-bancorps-fbnk-hold-rating-reiterated-at-piper-jaffray-companies.html.

Several hedge funds have recently bought and sold shares of FBNK. Russell Investments Group Ltd. raised its stake in shares of First Connecticut Bancorp by 45.7% in the first quarter. Russell Investments Group Ltd. now owns 19,057 shares of the bank’s stock worth $472,000 after purchasing an additional 5,977 shares during the last quarter. Mutual of America Capital Management LLC raised its stake in shares of First Connecticut Bancorp by 1.4% in the first quarter. Mutual of America Capital Management LLC now owns 114,317 shares of the bank’s stock worth $2,835,000 after purchasing an additional 1,559 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of First Connecticut Bancorp in the first quarter worth $208,000. Oxford Asset Management purchased a new position in shares of First Connecticut Bancorp in the first quarter worth $240,000. Finally, Stifel Financial Corp raised its stake in shares of First Connecticut Bancorp by 10.4% in the first quarter. Stifel Financial Corp now owns 57,116 shares of the bank’s stock worth $1,416,000 after purchasing an additional 5,392 shares during the last quarter. Hedge funds and other institutional investors own 49.03% of the company’s stock.

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.

Receive News & Ratings for First Connecticut Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Connecticut Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.