The State Board of Administration of Florida Retirement System reached $315,000 position of First Connecticut Bancorp Inc. (FBNK)

The State Board of Administration of Florida Retirement System reached $315,000 position  of First Connecticut Bancorp Inc. (FBNK)

State Board of Administration of Florida Retirement System raised its position in shares of First Connecticut Bancorp Inc. (NASDAQ:FBNK) by 0.6% during the second quarter, Holdings Channel reports. The institutional investor owned 19,034 shares of the company’s stock after buying an additional 111 shares during the period. State Board of Administration of Florida Retirement System owned 0.13% of First Connecticut Bancorp worth $315,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Emerald Acquisition Ltd. acquired a new position in shares of First Connecticut Bancorp during the second quarter worth approximately $159,000. Amici Capital LLC acquired a new position in shares of First Connecticut Bancorp during the first quarter worth approximately $239,000. Strs Ohio increased its position in shares of First Connecticut Bancorp by 3.2% in the second quarter. Strs Ohio now owns 38,800 shares of the company’s stock worth $642,000 after buying an additional 1,200 shares in the last quarter. Geode Capital Management LLC increased its position in shares of First Connecticut Bancorp by 2.0% in the first quarter. Geode Capital Management LLC now owns 89,121 shares of the company’s stock worth $1,422,000 after buying an additional 1,744 shares in the last quarter. Finally, Mutual of America Capital Management LLC increased its position in shares of First Connecticut Bancorp by 18.9% in the second quarter. Mutual of America Capital Management LLC now owns 87,753 shares of the company’s stock worth $1,453,000 after buying an additional 13,922 shares in the last quarter. 45.72% of the stock is owned by hedge funds and other institutional investors.

Shares of First Connecticut Bancorp Inc. (NASDAQ:FBNK) traded up 0.69% on Friday, reaching $17.53. The company had a trading volume of 1,720 shares. The firm has a market capitalization of $261.41 million, a PE ratio of 19.26 and a beta of 0.43. First Connecticut Bancorp Inc. has a 52-week low of $14.42 and a 52-week high of $18.40. The company has a 50-day moving average price of $17.65 and a 200-day moving average price of $16.79.

First Connecticut Bancorp (NASDAQ:FBNK) last released its earnings results on Wednesday, July 20th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.01. First Connecticut Bancorp had a return on equity of 5.45% and a net margin of 14.22%. Equities research analysts forecast that First Connecticut Bancorp Inc. will post $0.97 EPS for the current fiscal year.

In other First Connecticut Bancorp news, Director Ronald A. Bucchi sold 5,162 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $17.55, for a total transaction of $90,593.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Patience Peirce Mcdowell bought 2,775 shares of the business’s stock in a transaction on Thursday, September 8th. The shares were bought at an average price of $18.06 per share, for a total transaction of $50,116.50. Following the completion of the acquisition, the director now owns 1,783 shares of the company’s stock, valued at $32,200.98. The disclosure for this purchase can be found here. Corporate insiders own 9.10% of the company’s stock.

First Connecticut Bancorp Company Profile

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 over 20 branch locations throughout central Connecticut. The Bank offers commercial and residential lending as well as wealth management services in Connecticut and western Massachusetts.

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