The stock of First Connecticut Bancorp Inc (NASDAQ:FBNK) hit a new 52-week high and has $36.38 target or 94.00% above today’s $18.75 share price. The 5 months bullish chart indicates low risk for the $294.79 million company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $36.38 price target is reached, the company will be worth $277.10 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 3.59% or $0.65 during the last trading session, hitting $18.75. About 57,283 shares traded hands or 197.74% up from the average. First Connecticut Bancorp Inc (NASDAQ:FBNK) has risen 14.34% since April 7, 2016 and is uptrending. It has outperformed by 9.56% the S&P500.
First Connecticut Bancorp Inc (NASDAQ:FBNK) Ratings Coverage
Out of 3 analysts covering First Connecticut Bancorp (NASDAQ:FBNK), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. First Connecticut Bancorp has been the topic of 7 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The firm has “Overweight” rating by Piper Jaffray given on Thursday, April 14. The firm has “Market Perform” rating by Keefe Bruyette & Woods given on Friday, September 4. The stock of First Connecticut Bancorp Inc (NASDAQ:FBNK) has “Buy” rating given on Friday, January 29 by Compass Point. As per Friday, August 7, the company rating was initiated by Compass Point. The stock has “Hold” rating given by Zacks on Wednesday, August 12. The stock has “Market Perform” rating given by Wood on Friday, September 4.
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.”
Insitutional Activity: The institutional sentiment increased to 1.45 in Q2 2016. Its up 0.34, from 1.11 in 2016Q1. The ratio improved, 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.
Legal General Gru Public Limited accumulated 2,681 shares or 0% of the stock. Spark Investment Ltd Liability Corporation accumulated 34,800 shares or 0.05% of the stock. Wells Fargo And Mn last reported 105,180 shares in the company. The Kansas-based Creative Planning has invested 0% in First Connecticut Bancorp Inc (NASDAQ:FBNK). First Advsrs L P last reported 0% of its portfolio in the stock. Bridgeway Capital Incorporated holds 21,050 shares or 0.01% of its portfolio. Blackrock Fund Advisors owns 366,966 shares or 0% of their US portfolio. Moreover, State Street Corp has 0% invested in First Connecticut Bancorp Inc (NASDAQ:FBNK) for 264,318 shares. Putnam Investments holds 0.01% of its portfolio in First Connecticut Bancorp Inc (NASDAQ:FBNK) for 183,963 shares. Strs Ohio has 38,800 shares for 0% of their US portfolio. National Bank Of America Corp De holds 0% or 126,589 shares in its portfolio. M Inc accumulated 1.02% or 120,000 shares. Rhumbline Advisers accumulated 18,940 shares or 0% of the stock. Teachers holds 0% of its portfolio in First Connecticut Bancorp Inc (NASDAQ:FBNK) for 22,949 shares. Geode Ltd Llc holds 0% or 87,807 shares in its portfolio.
Insider Transactions: Since August 26, 2016, the stock had 3 buys, and 1 sale for $20,389 net activity. The insider Patrick John J Jr. bought $19,201. Bucchi Ronald A also sold $90,574 worth of First Connecticut Bancorp Inc (NASDAQ:FBNK) on Wednesday, September 7. McDowell Patience Peirce had bought 2,775 shares worth $50,119. 50 shares with value of $865 were bought by Carson John J on Friday, August 26.
More news for First Connecticut Bancorp Inc (NASDAQ:FBNK) were recently published by: Equitiesfocus.com, which released: “First Connecticut Bancorp, Inc. (NASDAQ:FBNK) Reports Basic Consolidated EPS …” on November 08, 2016. Courant.com‘s article titled: “Farmington Bank Parent Posts Higher Profits” and published on July 20, 2016 is yet another important article.
FBNK Company Profile
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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