UPDATE: Sterne Agee Maintains Rating On Westfield Financial Incorporated While Increasing Estimates Due To Robust Buybacks

In a report on Westfield Financial Inc.

published Tuesday, Sterne Agee reiterated its position of neutrality. It also increased estimates, expecting robust buybacks in the face of special dividend reductions. In the report, Sterne Agee notes, "While the company reduced their semi-annual special dividend to $0.05 p/s from $0.10 p/s, we expect buyback activity to remain robust. Overall, with the stock trading at 90% of TBV, we believe shares are fairly valued." Westfield Financial Inc. closed Monday at $7.26 and is currently trading up 1.52% since market open hours.