Sterne Agee Reiterates Buy Rating On United Financial Bancorp (UBNK)
Sterne Agee is out with a report on United Financial Group (NASDAQ: UBNK). The firm has a Buy rating on the shares and a $16.00 price target. The stock closed the trading week at $13.71.
The firm is adjusting their estimates for 2011 and 2012 EPS for the bank, despite the positive rating. The analysts wrote, "Due to reductions in our NIM and growth estimates, we are adjusting our 2011 and 2012 EPS estimates to $0.63 and $0.72, respectively. While we believe United Financial will continue to build net interest income through earning asset growth, the margin will likely shrink as asset yield compression offsets funding reductions through 2011."
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