Share on StockTwits

Hudson City Bancorp (NASDAQ:HCBK)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued on Friday. They currently have a $10.50 price objective on the stock. Zacks‘s price objective indicates a potential upside of 5.74% from the company’s current price.

Zacks’ analyst wrote, “Hudson City’s first-quarter 2014 earnings per share outpaced the Zacks Consensus Estimate. Results were aided by increased non-interest income and a fall in expenses along with no provision for loan-losses in the quarter. However, these were partly offset by lower net interest income. A strong capital position and improved credit quality were among other positives. The company announced its agreement with M&T Bank Corp. back in Aug 2012, under which the former will merge into a subsidiary of M&T Bank. Though the deal is a strategic fit for Hudson City, the persistent delay in completion of the deal owing to regulatory issues poses a concern for the company’s future growth prospects. Moreover, a protracted economic recovery and stringent regulations are likely to dampen the company’s financials in the near term.”

Separately, analysts at TheStreet upgraded shares of Hudson City Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, May 1st.

Hudson City Bancorp (NASDAQ:HCBK) traded up 0.91% during mid-day trading on Friday, hitting $10.02. 2,353,184 shares of the company’s stock traded hands. Hudson City Bancorp has a 52 week low of $8.49 and a 52 week high of $10.16. The stock has a 50-day moving average of $9.84 and a 200-day moving average of $9.54. The company has a market cap of $4.994 billion and a P/E ratio of 27.58.

Hudson City Bancorp (NASDAQ:HCBK) last announced its earnings results on Tuesday, April 29th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.02. During the same quarter in the previous year, the company posted $0.10 earnings per share. On average, analysts predict that Hudson City Bancorp will post $0.27 earnings per share for the current fiscal year.

Hudson City Bancorp, Inc (NASDAQ:HCBK) serves as the holding company of its subsidiary, Hudson City Savings Bank (the Bank).

To view Zacks’ full report, visit Zacks’ official website.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.