Keefe, Bruyette & Woods cut shares of United Financial Bancorp (NASDAQ:UBNK) from an outperform rating to a market perform rating in a research note issued to investors on Wednesday, March 7th, MarketBeat reports.
UBNK has been the subject of several other reports. BidaskClub lowered shares of United Financial Bancorp from a buy rating to a hold rating in a research report on Thursday, December 7th. Sandler O’Neill set a $20.00 price target on shares of United Financial Bancorp and gave the stock a buy rating in a research report on Wednesday, January 24th. Finally, Hovde Group reiterated a hold rating on shares of United Financial Bancorp in a research report on Friday, January 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $19.33.
Shares of United Financial Bancorp (UBNK) traded up $0.26 during midday trading on Wednesday, reaching $16.41. 30,938 shares of the company were exchanged, compared to its average volume of 152,841. United Financial Bancorp has a one year low of $15.47 and a one year high of $19.35. The stock has a market cap of $832.16, a PE ratio of 14.43 and a beta of 0.69. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.03 and a current ratio of 1.05.
United Financial Bancorp (NASDAQ:UBNK) last issued its earnings results on Tuesday, January 23rd. The bank reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.05). United Financial Bancorp had a return on equity of 8.41% and a net margin of 20.25%. The firm had revenue of $54.20 million during the quarter. research analysts anticipate that United Financial Bancorp will post 1.2 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Friday, February 2nd were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend was Thursday, February 1st. United Financial Bancorp’s payout ratio is presently 44.44%.
In other United Financial Bancorp news, EVP Mark A. Kucia sold 6,583 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $16.04, for a total transaction of $105,591.32. Following the transaction, the executive vice president now directly owns 68,964 shares in the company, valued at approximately $1,106,182.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Brandon Craig Lorey sold 20,000 shares of the stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $18.26, for a total transaction of $365,200.00. The disclosure for this sale can be found here. Corporate insiders own 3.49% of the company’s stock.
Several institutional investors have recently made changes to their positions in UBNK. Wells Fargo & Company MN raised its position in shares of United Financial Bancorp by 15.7% in the 2nd quarter. Wells Fargo & Company MN now owns 41,986 shares of the bank’s stock valued at $701,000 after purchasing an additional 5,711 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in United Financial Bancorp during the 2nd quarter worth approximately $173,000. Vanguard Group Inc. raised its position in United Financial Bancorp by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 2,087,944 shares of the bank’s stock worth $34,848,000 after buying an additional 23,464 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in United Financial Bancorp by 40.0% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 44,509 shares of the bank’s stock worth $743,000 after buying an additional 12,708 shares during the last quarter. Finally, Voya Investment Management LLC raised its position in United Financial Bancorp by 14.5% during the 2nd quarter. Voya Investment Management LLC now owns 23,619 shares of the bank’s stock worth $394,000 after buying an additional 2,993 shares during the last quarter. 66.13% of the stock is owned by hedge funds and other institutional investors.
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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