First Connecticut Bancorp (NASDAQ:FBNK) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Friday.
Several other brokerages also recently commented on FBNK. Zacks Investment Research raised First Connecticut Bancorp from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Friday, December 29th. ValuEngine downgraded First Connecticut Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, November 22nd.
First Connecticut Bancorp (FBNK) opened at $25.85 on Friday. The company has a market capitalization of $421.96, a P/E ratio of 20.04 and a beta of 0.67. 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 has a 1-year low of $21.70 and a 1-year high of $28.50.
A number of large investors have recently bought and sold shares of FBNK. Dimensional Fund Advisors LP lifted its holdings in First Connecticut Bancorp by 11.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 433,738 shares of the bank’s stock worth $11,602,000 after buying an additional 43,142 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in First Connecticut Bancorp during the 3rd quarter worth $1,086,000. Royce & Associates LP acquired a new position in First Connecticut Bancorp during the 3rd quarter worth $1,078,000. Menta Capital LLC acquired a new position in First Connecticut Bancorp during the 2nd quarter worth $627,000. Finally, State Street Corp lifted its holdings in First Connecticut Bancorp by 8.1% during the 2nd quarter. State Street Corp now owns 314,924 shares of the bank’s stock worth $8,079,000 after buying an additional 23,657 shares in the last quarter. 49.47% of the stock is currently owned by hedge funds and other institutional investors.
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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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