The First Connecticut Bancorp (FBNK) Getting Positive Press Coverage, Accern Reports

Pierre Vaugeois
Juillet 17, 2017

FMR LLC bought a new stake in First Connecticut Bancorp during the fourth quarter worth approximately $4,611,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The stock had a trading volume of 168,907 shares.

A number of other hedge funds also recently added to or reduced their stakes in FBNK. Royal Bank Of Canada reiterated a "hold" rating and set a $29.00 price objective on shares of First Financial Bancorp.in a research note on Friday, July 7th. Bank of New York Mellon Corp now owns 2,103,451 shares of the financial services provider's stock worth $49,808,000 after buying an additional 979,512 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in First Financial Bancorp.by 2.8% in the first quarter. Vanguard Group Inc. now owns 7,920,350 shares of the financial services provider's stock worth $187,554,000 after buying an additional 1,037,514 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of First Midwest Bancorp by 8.5% in the first quarter. Wellington Management Group LLP now owns 5,144,949 shares of the financial services provider's stock valued at $121,832,000 after buying an additional 402,445 shares in the last quarter. Bank of Montreal Can boosted its stake in First Financial Bancorp.by 50.3% in the first quarter. State Street Corp now owns 279,697 shares of the bank's stock worth $6,339,000 after buying an additional 15,716 shares during the period. Bank of New York Mellon Corp raised its stake in shares of First Midwest Bancorp by 87.1% in the first quarter. Bank of America Corp DE now owns 226,074 shares of the bank's stock valued at $6,206,000 after buying an additional 162,292 shares during the period. Insiders own 1.88% of the company's stock. First Midwest Bancorp has a 1-year low of $16.68 and a 1-year high of $25.83. The company has a market cap of $1.72 billion, a P/E ratio of 18.47 and a beta of 1.20. The stock has a 50-day moving average price of $26.46 and a 200 day moving average price of $27.44. First Connecticut Bancorp had a return on equity of 6.35% and a net margin of 16.39%.

First Connecticut Bancorp (NASDAQ:FBNK) last issued its quarterly earnings data on Tuesday, April 18th. The bank reported $0.39 EPS for the quarter, beating the Zacks' consensus estimate of $0.35 by $0.04. The business had revenue of $22.42 million for the quarter, compared to analysts' expectations of $21.77 million. First Connecticut Bancorp earned a media sentiment score of 0.45 on Accern's scale. On average, equities analysts predict that First Connecticut Bancorp, Inc. will post $1.33 earnings per share for the current fiscal year. Investors of record on Friday, June 2nd were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend was Wednesday, May 31st. First Midwest Bancorp's payout ratio is 35.09%.

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Several research firms have commented on FMBI. Zacks Investment Research upgraded shares of First Connecticut Bancorp from a "hold" rating to a "strong-buy" rating and set a $30.00 target price for the company in a research note on Tuesday, April 25th. Piper Jaffray Companies cut shares of First Connecticut Bancorp from an "overweight" rating to a "neutral" rating and set a $26.00 target price for the company.in a research note on Wednesday, June 14th. BidaskClub downgraded shares of First Financial Bancorp. from a "buy" rating to a "hold" rating in a report on Wednesday, June 21st. "(NASDAQ:FFBC) Cut to Hold at Zacks Investment Research" was first reported by BBNS and is the property of of BBNS. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company's stock. First Financial Bancorp. now has an average rating of "Hold" and an average price target of $27.50.

In related news, insider Paul C. Silva sold 1,713 shares of the firm's stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $27.66, for a total value of $47,381.58.

First Connecticut Bancorp, Inc (FCB) is a stock holding company. First Financial is engaged in the business of commercial banking and other banking and banking-related activities through its subsidiary, First Financial Bank, National Association (the Bank). The Company's principal subsidiary, First Midwest Bank (the Bank), is an IL state-chartered bank and provides a range of banking, treasury and wealth management products and services, to commercial and industrial, commercial real estate, municipal and consumer customers.

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