After Forming Bullish Multiple Top, Is First Connecticut Bancorp Inc (FBNK)’s Near-Term Analysis Positive?

September 17, 2017 - By Ellis Scott

Investors sentiment increased to 1.15 in 2016 Q4. Its up 0.11, from 1.04 in 2016Q3. It improved, as 3 investors sold First Connecticut Bancorp Inc shares while 23 reduced holdings. 12 funds opened positions while 18 raised stakes. 7.60 million shares or 6.86% more from 7.11 million shares in 2016Q3 were reported.
Bank Of America De has 125,958 shares for 0% of their portfolio. Bridgeway Mngmt holds 0.01% in First Connecticut Bancorp Inc (NASDAQ:FBNK) or 20,900 shares. 159,863 are held by Putnam Invests Limited Company. 30,400 are owned by Strs Ohio. Carret Asset Management Lc has 10,000 shares for 0.04% of their portfolio. Metropolitan Life Ny reported 11,013 shares. Stifel Corp invested in 51,724 shares or 0% of the stock. Vanguard Gp Inc holds 0% of its portfolio in First Connecticut Bancorp Inc (NASDAQ:FBNK) for 556,299 shares. The California-based Blackrock Institutional Na has invested 0% in First Connecticut Bancorp Inc (NASDAQ:FBNK). Legal General Gru Public Ltd Co reported 0% of its portfolio in First Connecticut Bancorp Inc (NASDAQ:FBNK). Geode Cap Mgmt Limited Liability Corporation reported 103,995 shares or 0% of all its holdings. Acadian Asset Management Ltd Liability holds 2,430 shares or 0% of its portfolio. Tiaa Cref Mgmt Lc invested in 67,306 shares. Citigroup holds 0% or 15,296 shares in its portfolio. Brandywine Glob Management Ltd Limited Liability Company stated it has 0.04% of its portfolio in First Connecticut Bancorp Inc (NASDAQ:FBNK).

Since June 14, 2017, it had 1 insider purchase, and 0 selling transactions for $7,495 activity.

The stock of First Connecticut Bancorp Inc (FBNK) shows a multiple tops pattern with $25.88 target or 5.00 % above today’s $24.65 share price. The 6 months chart pattern indicates low risk for the $393.05M company. It was reported on Sep, 17 by Finviz.com. If the $25.88 price target is reached, the company will be worth $19.65 million more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock decreased 0.80% or $0.2 on September 15, reaching $24.65. About 98,224 shares traded or 200.79% up from the average. First Connecticut Bancorp Inc (NASDAQ:FBNK) has risen 51.52% since September 17, 2016 and is uptrending. It has outperformed by 34.82% the S&P500.

Analysts expect First Connecticut Bancorp Inc (NASDAQ:FBNK) to report $0.35 EPS on October, 18.They anticipate $0.11 EPS change or 45.83 % from last quarter’s $0.24 EPS. FBNK’s profit would be $5.58M giving it 17.61 P/E if the $0.35 EPS is correct. After having $0.31 EPS previously, First Connecticut Bancorp Inc’s analysts see 12.90 % EPS growth.

First Connecticut Bancorp Inc (NASDAQ:FBNK) Ratings Coverage

Among 5 analysts covering First Connecticut Bancorp (NASDAQ:FBNK), 2 have Buy rating, 0 Sell and 3 Hold. Therefore 40% are positive. First Connecticut Bancorp had 13 analyst reports since August 7, 2015 according to SRatingsIntel. The firm has “Hold” rating given on Tuesday, August 22 by Keefe Bruyette & Woods. The stock of First Connecticut Bancorp Inc (NASDAQ:FBNK) has “Overweight” rating given on Tuesday, January 31 by Piper Jaffray. The rating was initiated by Compass Point on Friday, August 7 with “Buy”. The rating was maintained by Keefe Bruyette & Woods with “Hold” on Thursday, July 20. Compass Point maintained First Connecticut Bancorp Inc (NASDAQ:FBNK) rating on Friday, January 29. Compass Point has “Buy” rating and $19 target. Piper Jaffray initiated the shares of FBNK in report on Thursday, April 14 with “Overweight” rating. The firm has “Neutral” rating given on Wednesday, June 14 by PiperJaffray. The stock of First Connecticut Bancorp Inc (NASDAQ:FBNK) earned “Neutral” rating by Piper Jaffray on Wednesday, November 16. The firm has “Hold” rating given on Wednesday, August 12 by Zacks. Keefe Bruyette & Woods downgraded it to “Market Perform” rating and $17.50 target in Friday, September 4 report.

More news for First Connecticut Bancorp Inc (NASDAQ:FBNK) were recently published by: Nasdaq.com, which released: “The Zacks Analyst Blog Highlights: First Connecticut Bancorp, Orrstown …” on August 18, 2017. Globenewswire.com‘s article titled: “First Connecticut Bancorp, Inc. Increases Quarterly Dividend $0.02 and Sets …” and published on March 01, 2017 is yet another important article.

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