Rutabaga Capital Managementma Lowers stake in First Connecticut Bancorp Inc (FBNK)

First Connecticut Bancorp Inc (FBNK) : Rutabaga Capital Managementma reduced its stake in First Connecticut Bancorp Inc by 31.96% during the most recent quarter end. The investment management company now holds a total of 411,890 shares of First Connecticut Bancorp Inc which is valued at $6,639,667 after selling 193,502 shares in First Connecticut Bancorp Inc , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.First Connecticut Bancorp Inc makes up approximately 1.15% of Rutabaga Capital Managementma’s portfolio.

Other Hedge Funds, Including , California State Teachers Retirement System reduced its stake in FBNK by selling 4,613 shares or 13.6% in the most recent quarter. The Hedge Fund company now holds 29,307 shares of FBNK which is valued at $472,429.Strs Ohio boosted its stake in FBNK in the latest quarter, The investment management firm added 1,200 additional shares and now holds a total of 38,800 shares of First Connecticut Bancorp Inc which is valued at $639,036. Bnp Paribas Arbitrage Sa added FBNK to its portfolio by purchasing 542 company shares during the most recent quarter which is valued at $9,138.

First Connecticut Bancorp Inc closed down -0.08 points or -0.49% at $16.31 with 7,983 shares getting traded on Monday. Post opening the session at $16.43, the shares hit an intraday low of $16.22 and an intraday high of $16.43 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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.

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