Russell Investments Group Ltd. Reduces Stake in First Connecticut Bancorp, Inc. (FBNK)

Russell Investments Group Ltd. cut its stake in First Connecticut Bancorp, Inc. (NASDAQ:FBNK) by 33.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,747 shares of the bank’s stock after selling 6,310 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.08% of First Connecticut Bancorp worth $328,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of FBNK. Mutual of America Capital Management LLC increased its stake in shares of First Connecticut Bancorp by 1.4% in the first quarter. Mutual of America Capital Management LLC now owns 114,317 shares of the bank’s stock worth $2,835,000 after acquiring an additional 1,559 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of First Connecticut Bancorp in the first quarter worth $208,000. Oxford Asset Management acquired a new position in shares of First Connecticut Bancorp in the first quarter worth $240,000. Stifel Financial Corp increased its stake in shares of First Connecticut Bancorp by 10.4% in the first quarter. Stifel Financial Corp now owns 57,116 shares of the bank’s stock worth $1,416,000 after acquiring an additional 5,392 shares during the last quarter. Finally, American International Group Inc. increased its stake in shares of First Connecticut Bancorp by 6.8% in the first quarter. American International Group Inc. now owns 8,581 shares of the bank’s stock worth $213,000 after acquiring an additional 545 shares during the last quarter. 49.03% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have recently weighed in on the stock. BidaskClub downgraded shares of First Connecticut Bancorp from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $26.00 price target on shares of First Connecticut Bancorp in a research note on Sunday, September 17th. Zacks Investment Research downgraded shares of First Connecticut Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. Finally, ValuEngine raised shares of First Connecticut Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, September 1st.

First Connecticut Bancorp, Inc. (NASDAQ:FBNK) traded down 0.73% during trading on Friday, hitting $27.15. 31,240 shares of the stock were exchanged. First Connecticut Bancorp, Inc. has a 12-month low of $16.86 and a 12-month high of $27.50. The stock has a 50 day moving average price of $24.43 and a 200-day moving average price of $25.14. The firm has a market capitalization of $410.81 million, a PE ratio of 23.39 and a beta of 0.67.

First Connecticut Bancorp (NASDAQ:FBNK) last issued its quarterly earnings data on Friday, July 21st. The bank reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). First Connecticut Bancorp had a return on equity of 6.84% and a net margin of 17.10%. The company had revenue of $23.70 million for the quarter, compared to analyst estimates of $23.36 million. On average, equities research analysts anticipate that First Connecticut Bancorp, Inc. will post $1.36 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, September 1st were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.06%. This is a positive change from First Connecticut Bancorp’s previous quarterly dividend of $0.12. The ex-dividend date was Wednesday, August 30th. First Connecticut Bancorp’s dividend payout ratio (DPR) is presently 48.28%.

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First Connecticut Bancorp Profile

First Connecticut Bancorp, Inc (FCB) is a stock holding company. The Company operates through its subsidiary, Farmington Bank (the Bank), which is a full-service community bank with 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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Institutional Ownership by Quarter for First Connecticut Bancorp (NASDAQ:FBNK)

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