Keefe, Bruyette & Woods Sees United Financial Bancorp Continuing To Manage Branch Network

In a report published Wednesday, Keefe, Bruyette & Woods analyst Travis Lan reiterated an Outperform rating and $15.50 price target on

. In the report, Keefe, Bruyette & Woods noted, “UBNK has announced the closure of five non-strategic branches. These closures should generate ~$3 million of annual expense savings, though this was already captured in our forward estimates. We are excluding the associated $5.5 million charge from our 4Q14 estimates and leaving 2015 and 2016 EPS unchanged at $1.00 and $1.17, respectively.” United Financial Bancorp closed on Tuesday at $14.52.