As First Conn Bancorp Md (FBNK) Stock Price Declined, Clover Partners LP Has Cut by $11.27 Million Its Stake; Nuveen Asset Management Has Boosted Target (TGT) Position by $2.48 Million

May 18, 2018 - By Maria Brooks

Target Corporation (NYSE:TGT) Logo

Clover Partners Lp decreased its stake in First Conn Bancorp Inc Md (FBNK) by 75.06% based on its latest 2017Q4 regulatory filing with the SEC. Clover Partners Lp sold 433,446 shares as the company’s stock declined 2.85% with the market. The hedge fund held 144,050 shares of the finance company at the end of 2017Q4, valued at $3.77M, down from 577,496 at the end of the previous reported quarter. Clover Partners Lp who had been investing in First Conn Bancorp Inc Md for a number of months, seems to be less bullish one the $411.43 million market cap company. The stock increased 0.39% or $0.1 during the last trading session, reaching $25.75. About 5,644 shares traded. First Connecticut Bancorp, Inc. (NASDAQ:FBNK) has risen 7.13% since May 18, 2017 and is uptrending. It has underperformed by 4.42% the S&P500.




Nuveen Asset Management Llc increased its stake in Target Corp (TGT) by 14.78% based on its latest 2017Q4 regulatory filing with the SEC. Nuveen Asset Management Llc bought 38,217 shares as the company’s stock rose 4.77% while stock markets declined. The institutional investor held 296,716 shares of the department and specialty retail stores company at the end of 2017Q4, valued at $19.36M, up from 258,499 at the end of the previous reported quarter. Nuveen Asset Management Llc who had been investing in Target Corp for a number of months, seems to be bullish on the $40.76 billion market cap company. The stock increased 0.29% or $0.22 during the last trading session, reaching $76.05. About 959,694 shares traded. Target Corporation (NYSE:TGT) has risen 28.46% since May 18, 2017 and is uptrending. It has outperformed by 16.91% the S&P500.

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 18 analyst reports since August 7, 2015 according to SRatingsIntel. The firm has “Neutral” rating given on Wednesday, November 16 by Piper Jaffray. On Wednesday, June 14 the stock rating was downgraded by PiperJaffray to “Neutral”. Compass Point initiated First Connecticut Bancorp, Inc. (NASDAQ:FBNK) rating on Friday, August 7. Compass Point has “Buy” rating and $20 target. Keefe Bruyette & Woods maintained First Connecticut Bancorp, Inc. (NASDAQ:FBNK) rating on Tuesday, August 22. Keefe Bruyette & Woods has “Hold” rating and $27.0 target. As per Friday, January 29, the company rating was maintained by Compass Point. Keefe Bruyette & Woods maintained First Connecticut Bancorp, Inc. (NASDAQ:FBNK) rating on Tuesday, October 3. Keefe Bruyette & Woods has “Hold” rating and $27.0 target. The firm earned “Hold” rating on Wednesday, October 18 by Piper Jaffray. The rating was maintained by Keefe Bruyette & Woods on Thursday, December 21 with “Hold”. Piper Jaffray upgraded the shares of FBNK in report on Tuesday, January 31 to “Overweight” rating. The firm has “Overweight” rating given on Monday, February 5 by PiperJaffray.

Analysts await First Connecticut Bancorp, Inc. (NASDAQ:FBNK) to report earnings on July, 18. They expect $0.42 earnings per share, up 35.48% or $0.11 from last year’s $0.31 per share. FBNK’s profit will be $6.71M for 15.33 P/E if the $0.42 EPS becomes a reality. After $0.38 actual earnings per share reported by First Connecticut Bancorp, Inc. for the previous quarter, Wall Street now forecasts 10.53% EPS growth.

Since January 29, 2018, it had 3 insider buys, and 0 sales for $34,382 activity. Patrick John J Jr. bought $9,632 worth of stock or 370 shares.

Investors sentiment increased to 1.44 in Q4 2017. Its up 0.14, from 1.3 in 2017Q3. It improved, as 12 investors sold FBNK shares while 20 reduced holdings. 11 funds opened positions while 35 raised stakes. 7.63 million shares or 2.96% less from 7.86 million shares in 2017Q3 were reported. 236 were accumulated by Meeder Asset. Hillsdale Inv Mngmt invested in 0.12% or 28,000 shares. Morgan Stanley reported 98,093 shares. Kennedy Capital Mgmt owns 120,551 shares. Blackrock owns 1.09 million shares for 0% of their portfolio. Connecticut-based Matarin Cap Mngmt has invested 0.03% in First Connecticut Bancorp, Inc. (NASDAQ:FBNK). Carret Asset Management Ltd Limited Liability Company holds 0.04% or 10,000 shares in its portfolio. United Kingdom-based Barclays Public Ltd has invested 0% in First Connecticut Bancorp, Inc. (NASDAQ:FBNK). Clover Prtnrs Lp holds 144,050 shares or 3.59% of its portfolio. Numeric Investors Lc reported 0% of its portfolio in First Connecticut Bancorp, Inc. (NASDAQ:FBNK). Hancock Hldgs has 0.01% invested in First Connecticut Bancorp, Inc. (NASDAQ:FBNK). State Board Of Administration Of Florida Retirement Sys owns 19,184 shares. Strs Ohio holds 27,100 shares or 0% of its portfolio. The New York-based Alliancebernstein Limited Partnership has invested 0% in First Connecticut Bancorp, Inc. (NASDAQ:FBNK). Vanguard accumulated 577,083 shares.

More notable recent Target Corporation (NYSE:TGT) news were published by: Finance.Yahoo.com which released: “Are You An Income Investor? Don’t Miss Out On Target Corporation (NYSE:TGT)” on April 26, 2018, also Seekingalpha.com with their article: “Even Dividend Kings Like Target Might Underperform The Market” published on May 13, 2018, Seekingalpha.com published: “Target’s Stock Price Malaise Is An Opportunity” on May 15, 2018. More interesting news about Target Corporation (NYSE:TGT) were released by: Seekingalpha.com and their article: “Wolfe Research upgrades Target ahead of earnings” published on May 17, 2018 as well as Seekingalpha.com‘s news article titled: “Position Close Update: Target Corporation” with publication date: May 09, 2018.

Nuveen Asset Management Llc, which manages about $15.61B US Long portfolio, decreased its stake in Visa Inc (NYSE:V) by 73,458 shares to 757,815 shares, valued at $86.41 million in 2017Q4, according to the filing. It also reduced its holding in Gpo Aeroportuario Del Pac Sa (NYSE:PAC) by 15,054 shares in the quarter, leaving it with 98,293 shares, and cut its stake in Freeport (NYSE:FCX).

First Connecticut Bancorp, Inc. (NASDAQ:FBNK) Institutional Positions Chart

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