November 30, 2016 - By Louis Casey
A calculated and judicious act was made by the director of First Connecticut Bancorp Inc, Mr. Michael Ziebka, a few days ago, when he sold amount of shares – 11,129, amounting to $246,638 U.S. Dollars, which is based on a market stock price of $22.2 for each one share. Michael Ziebka presently holds 0.06% of the market cap of First Connecticut Bancorp Inc. The deal was dated 30/11/2016 and was made public in a Form 4 filed with the Washington-based SEC. The Form 4 is available here.
Out of 4 analysts covering First Connecticut Bancorp (NASDAQ:FBNK), 1 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 25% are positive. $20 is the highest target while $17 is the lowest. The $18 average target is -16.86% below today’s ($21.65) stock price. First Connecticut Bancorp has been the topic of 9 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The stock of First Connecticut Bancorp Inc (NASDAQ:FBNK) has “Neutral” rating given on Wednesday, November 16 by Piper Jaffray. Piper Jaffray initiated First Connecticut Bancorp Inc (NASDAQ:FBNK) rating on Thursday, April 14. Piper Jaffray has “Overweight” rating and $18.50 price target. The firm earned “Buy” rating on Friday, August 7 by Compass Point. The rating was downgraded by Keefe Bruyette & Woods on Friday, September 4 to “Market Perform”. Zacks upgraded it to “Hold” rating and $18 target price in Wednesday, August 12 report. The stock of First Connecticut Bancorp Inc (NASDAQ:FBNK) has “Market Perform” rating given on Friday, September 4 by Wood. The rating was downgraded by PiperJaffray to “Neutral” on Wednesday, November 16. Compass Point maintained it with “Buy” rating and $19 target price in Friday, January 29 report.
Insitutional Activity: The institutional sentiment decreased to 1.04 in 2016 Q2. Its down 0.41, from 1.45 in 2016Q1. The ratio turned negative, as 4 funds sold all First Connecticut Bancorp Inc shares owned while 18 reduced positions. 4 funds bought stakes while 28 increased positions. They now own 7.22 million shares or 0.64% less from 7.26 million shares in 2016Q1.
Tiaa Cref Inv Ltd Co last reported 0% of its portfolio in the stock. Northern Trust Corp last reported 160,109 shares in the company. Clover Ptnrs L P last reported 3.86% of its portfolio in the stock. Schwab Charles Mngmt owns 23,900 shares or 0% of their US portfolio. Prospector Ltd Com reported 120,000 shares or 0.34% of all its holdings. The California-based Brandes Inv Ptnrs L P has invested 0.01% in First Connecticut Bancorp Inc (NASDAQ:FBNK). Millennium Mgmt Lc accumulated 18,465 shares or 0% of the stock. Blackrock Mgmt Limited Liability has invested 0% of its portfolio in First Connecticut Bancorp Inc (NASDAQ:FBNK). Bancorp Of Montreal Can accumulated 0% or 263 shares. Bridgeway Cap Inc owns 21,050 shares or 0.01% of their US portfolio. Geode Management Limited Liability has 0% invested in the company for 87,807 shares. Parametric Portfolio Ltd Limited Liability Company last reported 28,468 shares in the company. California State Teachers Retirement System has invested 0% of its portfolio in First Connecticut Bancorp Inc (NASDAQ:FBNK). Mendon Advsr holds 145,411 shares or 0.25% of its portfolio. Hennessy Advisors has invested 0.13% of its portfolio in First Connecticut Bancorp Inc (NASDAQ:FBNK).
Insider Transactions: Since August 26, 2016, the stock had 3 insider buys, and 1 insider sale for $20,389 net activity. The insider McDowell Patience Peirce bought $50,119. Bucchi Ronald A sold $90,574 worth of stock or 5,162 shares. $865 worth of First Connecticut Bancorp Inc (NASDAQ:FBNK) was bought by Carson John J on Friday, August 26. Patrick John J Jr. also bought $19,201 worth of First Connecticut Bancorp Inc (NASDAQ:FBNK) shares.
The stock decreased 0.96% or $0.21 on November 30, hitting $21.65. About 28,514 shares traded hands or 1.74% up from the average. First Connecticut Bancorp Inc (NASDAQ:FBNK) has risen 23.25% since April 27, 2016 and is uptrending. It has outperformed by 18.02% the S&P500.
First Connecticut Bancorp, Inc. is a stock holding company. The company has a market cap of $339.95 million. The Firm operates through its wholly owned subsidiary Farmington Bank , a community bank with over 20 branch locations throughout central Connecticut. It has a 24.47 P/E ratio. The Bank offers commercial and residential lending as well as wealth management services in Connecticut and western Massachusetts.
According to Zacks Investment Research, “First Connecticut Bancorp Inc. is a banking company. Farmington Bank provides commercial, consumer and banking services to businesses, individuals and governments across Central Connecticut. It also offers residential mortgage loan services along with brokerage and investment advisory services. The Company’s consumer loans include installment, demand, revolving credit and collateral loans. Its installment and collateral consumer loans generally consist of loans on new and used automobiles, loans collateralized by deposit accounts and unsecured personal loans.”
Analysts await First Connecticut Bancorp Inc (NASDAQ:FBNK) to report earnings on January, 25. They expect $0.25 earnings per share, up 38.89% or $0.07 from last year’s $0.18 per share. FBNK’s profit will be $3.93M for 21.65 P/E if the $0.25 EPS becomes a reality. After $0.24 actual earnings per share reported by First Connecticut Bancorp Inc for the previous quarter, Wall Street now forecasts 4.17% EPS growth.
Another recent and important First Connecticut Bancorp Inc (NASDAQ:FBNK) news was published by Reuters.com which published an article titled: “BRIEF-First Connecticut Bancorp Inc increases quarterly dividend” on November 22, 2016.
First Connecticut Bancorp, Inc. (FCB), incorporated on January 27, 2011, is a stock holding company. The Firm operates through its subsidiary Farmington Bank (the Bank), which is a full-service community bank with over 20 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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By Louis Casey