First Connecticut Bancorp (NASDAQ:FBNK) was upgraded by equities research analysts at Piper Jaffray Companies from a “neutral” rating to an “overweight” rating in a note issued to investors on Monday, Marketbeat.com reports.
FBNK has been the subject of several other research reports. Zacks Investment Research raised First Connecticut Bancorp from a “sell” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Tuesday, December 19th. ValuEngine lowered First Connecticut Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, November 22nd. Finally, BidaskClub lowered First Connecticut Bancorp from a “sell” rating to a “strong sell” rating in a report on Friday, January 26th.
First Connecticut Bancorp (NASDAQ FBNK) traded down $0.80 during mid-day trading on Monday, hitting $24.75. The stock had a trading volume of 32,495 shares, compared to its average volume of 19,146. First Connecticut Bancorp has a 52-week low of $22.80 and a 52-week high of $28.50. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $407.60, a PE ratio of 25.34 and a beta of 0.61.
Institutional investors and hedge funds have recently modified their holdings of the stock. FNY Partners Fund LP bought a new stake in First Connecticut Bancorp during the fourth quarter valued at about $200,000. Goldman Sachs Group Inc. bought a new stake in First Connecticut Bancorp during the second quarter valued at about $210,000. Citadel Advisors LLC bought a new stake in First Connecticut Bancorp during the third quarter valued at about $238,000. JPMorgan Chase & Co. grew its holdings in First Connecticut Bancorp by 154.7% during the third quarter. JPMorgan Chase & Co. now owns 8,906 shares of the bank’s stock valued at $238,000 after purchasing an additional 5,410 shares during the period. Finally, California Public Employees Retirement System bought a new stake in First Connecticut Bancorp during the second quarter valued at about $239,000. 49.33% of the stock is 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.
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