First Connecticut Bancorp Inc (FBNK) was Reiterated by Compass Point to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 20 from a previous price target of $19 . Compass Point advised their investors in a research report released on Apr 21, 2016.
Many Wall Street Analysts have commented on First Connecticut Bancorp Inc. First Connecticut Bancorp Inc was Initiated by Piper Jaffray to “Overweight” on Apr 14, 2016. Shares were Reiterated by Compass Point on Jan 29, 2016 to “Buy” and Lowered the Price Target to $ 19 from a previous price target of $20 .
First Connecticut Bancorp Inc opened for trading at $16.13 and hit $16.68 on the upside on Monday, eventually ending the session at $16.65, with a gain of 2.84% or 0.46 points. The heightened volatility saw the trading volume jump to 45,161 shares. Company has a market cap of $262 M.
In a different news, on Mar 17, 2016, James T Jr Healey (director) purchased 1,419 shares at $15.99 per share price. According to the SEC, on Feb 23, 2016, John J Carson (director) purchased 80 shares at $16.29 per share price. On Feb 16, 2016, John A Green (director) purchased 300 shares at $16.05 per share price, according to the Form-4 filing with the securities and exchange commission.
First Connecticut Bancorp Inc. is a stock holding company. The Company operates through its wholly owned subsidiary Farmington Bank (the Bank) a community bank with 22 branch locations throughout central Connecticut. The Bank offers commercial and residential lending as well as wealth management services in Connecticut and western Massachusetts. The Company’s principal lending activities include residential consumer and commercial lending. Its lending activities consists of the origination of one-to-four family residential real estate loans that are secured by properties located in Hartford County and surrounding counties in Connecticut. The Company’s investment activities consisted primarily of United States government and agency securities including debt and mortgage-backed securities securities issued and guaranteed by Government Sponsored Enterprises (GSE’s) municipal and other bonds mutual funds and equity securities including preferred equity securities.