First Connecticut Bancorp Inc (FBNK) Increases Dividend to $0.16 Per Share

First Connecticut Bancorp Inc (NASDAQ:FBNK) announced a quarterly dividend on Wednesday, February 28th, Wall Street Journal reports. Shareholders of record on Friday, March 9th will be paid a dividend of 0.16 per share by the bank on Monday, March 19th. This represents a $0.64 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Thursday, March 8th. This is an increase from First Connecticut Bancorp’s previous quarterly dividend of $0.15.

NASDAQ:FBNK traded down $0.30 during mid-day trading on Thursday, reaching $25.60. 48,942 shares of the company were exchanged, compared to its average volume of 21,625. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.94. First Connecticut Bancorp has a 12 month low of $23.25 and a 12 month high of $28.50. The firm has a market cap of $407.97, a P/E ratio of 25.69 and a beta of 0.59.

First Connecticut Bancorp (NASDAQ:FBNK) last announced its quarterly earnings results on Wednesday, January 24th. The bank reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). First Connecticut Bancorp had a net margin of 14.46% and a return on equity of 7.82%. The firm had revenue of $23.69 million during the quarter, compared to analyst estimates of $24.89 million. equities analysts predict that First Connecticut Bancorp will post 1.73 earnings per share for the current fiscal year.

FBNK has been the subject of several research reports. Zacks Investment Research raised shares of First Connecticut Bancorp from a “sell” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Tuesday, December 19th. BidaskClub raised shares of First Connecticut Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, March 3rd. Finally, Piper Jaffray raised First Connecticut Bancorp from a “neutral” rating to an “overweight” rating in a report on Monday, February 5th.

In other news, Director Kenneth F. Burns sold 1,000 shares of First Connecticut Bancorp stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $25.27, for a total transaction of $25,270.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought 1,370 shares of company stock valued at $34,381 in the last three months. Insiders own 10.70% of the company’s stock.

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About First Connecticut Bancorp

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.

Dividend History for First Connecticut Bancorp (NASDAQ:FBNK)

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