Can First Connecticut (FBNK) Run Higher on Strong Earnings Estimate Revisions?
First Connecticut Bancorp, Inc.FBNK is a company in the Banks-Northeast industry that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on FBNK's earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that First Connecticut could be a solid choice for investors.
Current Quarter Estimates for FBNK
In the past 30 days, 1 estimate has gone higher for First Connecticut while no estimates have been revised lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 20 cents a share 30 days ago, to 24 cents today, a move of 20%.
Current Year Estimates for FBNK
Meanwhile, First Connecticut's current year figures are also looking quite promising, with 1 estimate moving higher in the past month, compared to no downward revision. The consensus estimate trend has also seen a boost for this time frame, increasing from 80 cents per share 30 days ago to 92 cents per share today, an increase of 15%.
The stock has also started to move higher lately, adding 10.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.