Exclusive: What Next for First Connecticut Bancorp Inc Stock After Reaching All Time High?

Exclusive: What Next for First Connecticut Bancorp Inc Stock After Reaching All Time High?

The stock of First Connecticut Bancorp Inc (NASDAQ:FBNK) reached all time high today, Nov, 14 and still has $43.99 target or 107.00% above today’s $21.25 share price. This indicates more upside for the $356.46 million company. This technical setup was reported by Barchart.com. If the $43.99 PT is reached, the company will be worth $381.41M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 44,504 shares traded hands or 82.39% up from the average. First Connecticut Bancorp Inc (NASDAQ:FBNK) has risen 30.39% since April 12, 2016 and is uptrending. It has outperformed by 25.41% 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. Piper Jaffray initiated First Connecticut Bancorp Inc (NASDAQ:FBNK) rating on Thursday, April 14. Piper Jaffray has “Overweight” rating and $18.50 price target. Compass Point maintained it with “Buy” rating and $19 target price in Friday, January 29 report. The firm has “Market Perform” rating given on Friday, September 4 by Wood. Zacks upgraded First Connecticut Bancorp Inc (NASDAQ:FBNK) on Wednesday, August 12 to “Hold” rating. The firm has “Buy” rating given on Friday, August 7 by Compass Point. The firm has “Market Perform” rating given on Friday, September 4 by Keefe Bruyette & Woods.

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 increased, 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.
Millennium Mgmt Ltd Com last reported 0% of its portfolio in the stock. Tower Limited Liability Co (Trc) has 0% invested in the company for 225 shares. Polaris Capital Management Llc owns 41,300 shares or 0.06% of their US portfolio. Renaissance Tech Limited Liability Company last reported 0.01% of its portfolio in the stock. Brandes Invest Prtnrs L P accumulated 55,223 shares or 0.01% of the stock. Tiaa Cref Management Limited Liability Co last reported 0% of its portfolio in the stock. Spark Investment Mngmt Ltd Liability Com has 34,800 shares for 0.05% of their US portfolio. Putnam Investments Llc holds 0.01% or 183,963 shares in its portfolio. California State Teachers Retirement Systems holds 29,307 shares or 0% of its portfolio. State Board Of Administration Of Florida Retirement System last reported 19,034 shares in the company. Stifel Financial holds 0% of its portfolio in First Connecticut Bancorp Inc (NASDAQ:FBNK) for 46,420 shares. Ulysses Mgmt Ltd Co, a New York-based fund reported 50,000 shares. Mutual Of America Mgmt Lc holds 0.03% of its portfolio in First Connecticut Bancorp Inc (NASDAQ:FBNK) for 87,753 shares. Pnc Financial Grp has 142 shares for 0% of their US portfolio. Penn Management last reported 0.17% of its portfolio in the stock.

Insider Transactions: Since August 26, 2016, the stock had 3 insider buys, and 1 insider sale for $20,389 net activity. Shares for $19,201 were bought by Patrick John J Jr.. $90,574 worth of shares were sold by Bucchi Ronald A on Wednesday, September 7. $865 worth of shares were bought by Carson John J on Friday, August 26. 2,775 shares with value of $50,119 were bought by McDowell Patience Peirce on Thursday, September 8.

Another recent and important First Connecticut Bancorp Inc (NASDAQ:FBNK) news was published by Courant.com which published an article titled: “Farmington Bank Parent Posts Higher Profits” on July 20, 2016.

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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