Keefe, Bruyette & Woods Starts First Connecticut Bancorp (FBNK) at Outperform; Armed with Capital, Mission Continues to Be a Premier Community Bank

Keefe, Bruyette & Woods initiates coverage on First Connecticut Bancorp (NASDAQ: FBNK) with an Outperform. PT $14.50.

KBW analyst says, "In our view, First Connecticut Bancorp is an attractive investment for long-term community bank investors as we believe the bank offers the opportunity for investors to benefit from the deployment of the newly raised capital as well as from potential appreciation of the bank's franchise value. Shares currently trade at 79% of our pro forma tangible book value estimate, offering over a 30% return."

For more ratings news on First Connecticut Bancorp click here and for the rating history of First Connecticut Bancorp click here.

Shares of First Connecticut Bancorp closed at $11.14 yesterday.

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