Clover Partners L.P. lessened its position in shares of First Connecticut Bancorp Inc (NASDAQ:FBNK) by 75.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 144,050 shares of the bank’s stock after selling 433,446 shares during the quarter. First Connecticut Bancorp makes up approximately 3.6% of Clover Partners L.P.’s investment portfolio, making the stock its 12th largest holding. Clover Partners L.P. owned approximately 0.90% of First Connecticut Bancorp worth $3,767,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in First Connecticut Bancorp by 6.5% during the 4th quarter. BlackRock Inc. now owns 1,089,232 shares of the bank’s stock valued at $28,484,000 after purchasing an additional 66,431 shares during the period. Dimensional Fund Advisors LP increased its position 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 valued at $11,602,000 after purchasing an additional 43,142 shares during the period. Renaissance Technologies LLC increased its position in First Connecticut Bancorp by 6.7% during the 4th quarter. Renaissance Technologies LLC now owns 348,400 shares of the bank’s stock valued at $9,111,000 after purchasing an additional 21,952 shares during the period. State Street Corp increased its position in First Connecticut Bancorp by 8.1% during 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 during the period. Finally, Northern Trust Corp increased its position in First Connecticut Bancorp by 7.8% during 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 during the period. 47.33% of the stock is owned by institutional investors and hedge funds.
A number of analysts have weighed in on FBNK shares. Zacks Investment Research raised shares of First Connecticut Bancorp from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Friday, December 29th. BidaskClub upgraded First Connecticut Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, March 3rd. ValuEngine cut First Connecticut Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, November 22nd. Finally, Piper Jaffray Companies upgraded First Connecticut Bancorp from a “neutral” rating to an “overweight” rating in a report on Monday, February 5th.
First Connecticut Bancorp Inc (NASDAQ FBNK) opened at $27.10 on Wednesday. The stock has a market capitalization of $436.72, a P/E ratio of 20.72 and a beta of 0.59. First Connecticut Bancorp Inc has a twelve month low of $23.15 and a twelve month high of $28.50. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.99.
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 business had revenue of $23.69 million for the quarter, compared to the consensus estimate of $24.89 million. First Connecticut Bancorp had a return on equity of 7.85% and a net margin of 14.46%. sell-side analysts anticipate that First Connecticut Bancorp Inc will post 1.73 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 19th. Shareholders of record on Friday, March 9th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.36%. This is a boost from First Connecticut Bancorp’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, March 8th. First Connecticut Bancorp’s dividend payout ratio is presently 62.75%.
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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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