FIG Partners Weighs in on First Connecticut Bancorp Inc’s Q1 2018 Earnings (FBNK)

First Connecticut Bancorp Inc (NASDAQ:FBNK) – Research analysts at FIG Partners boosted their Q1 2018 earnings estimates for shares of First Connecticut Bancorp in a report released on Friday. FIG Partners analyst D. Bishop now anticipates that the bank will post earnings of $0.40 per share for the quarter, up from their prior estimate of $0.39. FIG Partners also issued estimates for First Connecticut Bancorp’s Q2 2018 earnings at $0.42 EPS, Q3 2018 earnings at $0.45 EPS and Q4 2018 earnings at $0.47 EPS.

First Connecticut Bancorp (NASDAQ:FBNK) last posted its quarterly earnings results on Wednesday, January 24th. The bank reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The company had revenue of $23.69 million during the quarter, compared to analyst estimates of $24.89 million. First Connecticut Bancorp had a net margin of 14.46% and a return on equity of 7.85%.

A number of other equities research analysts have also issued reports on the company. BidaskClub lowered First Connecticut Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Zacks Investment Research raised First Connecticut Bancorp from a “sell” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Tuesday, December 19th. Finally, ValuEngine lowered First Connecticut Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, November 22nd.

Shares of First Connecticut Bancorp (NASDAQ FBNK) opened at $25.85 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $421.96, a PE ratio of 25.34 and a beta of 0.67. First Connecticut Bancorp has a 12-month low of $21.70 and a 12-month high of $28.50.

A number of hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its position in First Connecticut Bancorp by 2.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 537,969 shares of the bank’s stock valued at $13,799,000 after purchasing an additional 12,542 shares in the last quarter. Dimensional Fund Advisors LP raised its position in First Connecticut Bancorp by 11.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 433,738 shares of the bank’s stock valued at $11,602,000 after purchasing an additional 43,142 shares in the last quarter. State Street Corp raised its position in First Connecticut Bancorp by 8.1% in the 2nd quarter. State Street Corp now owns 314,924 shares of the bank’s stock valued at $8,079,000 after purchasing an additional 23,657 shares in the last quarter. Northern Trust Corp raised its position in First Connecticut Bancorp by 7.8% in the 2nd quarter. Northern Trust Corp now owns 178,477 shares of the bank’s stock valued at $4,577,000 after purchasing an additional 12,860 shares in the last quarter. Finally, Mutual of America Capital Management LLC raised its position in First Connecticut Bancorp by 2.8% in the 3rd quarter. Mutual of America Capital Management LLC now owns 118,530 shares of the bank’s stock valued at $3,171,000 after purchasing an additional 3,258 shares in the last quarter. 49.47% of the stock is currently owned by institutional investors.

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About First Connecticut Bancorp

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.

Earnings History and Estimates for First Connecticut Bancorp (NASDAQ:FBNK)

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