United Financial Bancorp Inc (UBNK) Lifted to Outperform at Keefe, Bruyette & Woods
United Financial Bancorp Inc (NASDAQ:UBNK) was upgraded by Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research note issued to investors on Thursday, The Fly reports.
Shares of United Financial Bancorp (NASDAQ:UBNK) opened at 17.38 on Thursday. United Financial Bancorp has a 12-month low of $12.42 and a 12-month high of $18.66. The stock has a market cap of $873.15 million, a PE ratio of 17.56 and a beta of 0.66. The stock’s 50 day moving average is $16.92 and its 200-day moving average is $16.77.
United Financial Bancorp (NASDAQ:UBNK) last released its quarterly earnings data on Tuesday, April 18th. The bank reported $0.27 EPS for the quarter, beating the consensus estimate of $0.24 by $0.03. The business had revenue of $52.80 million for the quarter, compared to the consensus estimate of $52.30 million. United Financial Bancorp had a net margin of 20.50% and a return on equity of 7.70%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 EPS. Equities analysts expect that United Financial Bancorp will post $1.04 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 10th. Stockholders of record on Friday, April 28th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Wednesday, April 26th. United Financial Bancorp’s dividend payout ratio (DPR) is currently 48.48%.
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Several hedge funds have recently added to or reduced their stakes in UBNK. Creative Planning increased its stake in United Financial Bancorp by 1.6% in the first quarter. Creative Planning now owns 32,175 shares of the bank’s stock valued at $547,000 after buying an additional 500 shares during the period. Highbridge Capital Management LLC acquired a new stake in United Financial Bancorp during the fourth quarter valued at approximately $713,000. Teachers Advisors LLC increased its stake in United Financial Bancorp by 36.4% in the fourth quarter. Teachers Advisors LLC now owns 142,062 shares of the bank’s stock valued at $2,580,000 after buying an additional 37,877 shares during the period. RMB Capital Management LLC increased its stake in United Financial Bancorp by 38.8% in the fourth quarter. RMB Capital Management LLC now owns 277,135 shares of the bank’s stock valued at $5,033,000 after buying an additional 77,462 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC acquired a new stake in United Financial Bancorp during the fourth quarter valued at approximately $410,000. 62.55% of the stock is currently owned by institutional investors and hedge funds.
About United Financial Bancorp
United Financial Bancorp, Inc is a bank holding company. The Company, through its subsidiary United Bank (the Bank) and various subsidiaries, delivers financial services to individuals, families and businesses in Connecticut and Massachusetts, including retail, commercial and consumer banking, as well as financial advisory services.
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