The stock of First Connecticut Bancorp Inc (NASDAQ:FBNK) reached all time high today, Nov, 24 and still has $24.14 target or 8.00% above today’s $22.35 share price. This indicates more upside for the $369.44 million company. This technical setup was reported by Barchart.com. If the $24.14 PT is reached, the company will be worth $29.56 million 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. The stock increased 2.52% or $0.55 on November 23, hitting $22.35. About 24,359 shares traded hands. First Connecticut Bancorp Inc (NASDAQ:FBNK) has risen 25.21% since April 22, 2016 and is uptrending. It has outperformed by 19.80% the S&P500.
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 $4.13M for 22.35 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.
First Connecticut Bancorp Inc (NASDAQ:FBNK) Ratings Coverage
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. First Connecticut Bancorp has been the topic of 9 analyst reports since August 7, 2015 according to StockzIntelligence Inc. Keefe Bruyette & Woods downgraded the shares of FBNK in a report on Friday, September 4 to “Market Perform” rating. The rating was downgraded by Piper Jaffray to “Neutral” on Wednesday, November 16. On Wednesday, August 12 the stock rating was upgraded by Zacks to “Hold”. PiperJaffray downgraded First Connecticut Bancorp Inc (NASDAQ:FBNK) on Wednesday, November 16 to “Neutral” rating. The company was downgraded on Friday, September 4 by Wood. On Friday, January 29 the stock rating was maintained by Compass Point with “Buy”. On Thursday, April 14 the stock rating was initiated by Piper Jaffray with “Overweight”. Compass Point initiated the stock with “Buy” rating in Friday, August 7 report.
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 decreased to 1.04 in Q2 2016. Its down 0.41, from 1.45 in 2016Q1. The ratio dived, 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.
Qs Investors Ltd Limited Liability Company accumulated 351 shares or 0% of the stock. Strs Ohio has 38,800 shares for 0% of their US portfolio. Renaissance Tech Llc has 196,900 shares for 0.01% of their US portfolio. Northern Tru has 160,109 shares for 0% of their US portfolio. Kennedy Capital Management owns 205,424 shares or 0.07% of their US portfolio. Moreover, Tower Limited Liability Corporation (Trc) has 0% invested in First Connecticut Bancorp Inc (NASDAQ:FBNK) for 225 shares. Putnam Limited Com last reported 0.01% of its portfolio in the stock. Manufacturers Life Company The last reported 0.01% of its portfolio in the stock. Mendon Capital Advisors Corp accumulated 0.25% or 145,411 shares. The Massachusetts-based State Street has invested 0% in First Connecticut Bancorp Inc (NASDAQ:FBNK). Penn Mngmt last reported 0.17% of its portfolio in the stock. Morgan Stanley reported 71,352 shares or 0% of all its holdings. Polaris Capital Mgmt owns 41,300 shares or 0.06% of their US portfolio. California Employees Retirement Sys has 26,800 shares for 0% of their US portfolio. Wells Fargo Mn has 105,180 shares for 0% of their US portfolio.
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. Shares for $90,574 were sold by Bucchi Ronald A on Wednesday, September 7. Patrick John J Jr. had bought 1,055 shares worth $19,201. Carson John J had bought 50 shares worth $865.
More news for First Connecticut Bancorp Inc (NASDAQ:FBNK) were recently published by: Reuters.com, which released: “BRIEF-First Connecticut Bancorp Inc increases quarterly dividend” on November 22, 2016. Globenewswire.com‘s article titled: “First Connecticut Bancorp, Inc. Increases Quarterly Dividend” and published on November 22, 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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