United Financial Bancorp (NASDAQ:UBNK) was upgraded by equities researchers at Sterne Agee from a “neutral” rating to a “buy” rating in a research report issued on Friday, TheFlyOnTheWall.com reports. The firm currently has a $22.25 price objective on the stock. Sterne Agee’s target price would indicate a potential upside of 11.25% from the company’s previous close.
The analysts wrote, “Last Friday, Rockville Financial (RCKB – $15.09 – Buy) and United Financial announced a merger of equals. The combined entity will have $4.8 billion in assets and is projected to generate returns on tangible equity (ROTCE) in excess of 10% in 2015. Given the 100% stock consideration, our price target and rating on UBNK will now reflect the terms of the deal with RCKB. In summary, we are upgrading shares of UBNK to Buy with a $22.25 price target.”
In other United Financial Bancorp news, Director Michael F. Werenski sold 3,700 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $19.95, for a total transaction of $73,815.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Leerink Swann upgraded shares of United Financial Bancorp from a “market perform” rating to an “outperform” rating in a research note to investors on Tuesday. Separately, analysts at Keefe, Bruyette & Woods upgraded shares of United Financial Bancorp from a “market perform” rating to an “outperform” rating in a research note to investors on Tuesday. Finally, analysts at TheStreet upgraded shares of United Financial Bancorp from a “hold” rating to a “buy” rating in a research note to investors on Wednesday, September 4th.
Shares of United Financial Bancorp (NASDAQ:UBNK) opened at 20.00 on Friday. United Financial Bancorp has a 1-year low of $14.25 and a 1-year high of $20.47. The stock’s 50-day moving average is $16.43 and its 200-day moving average is $15.95. The company has a market cap of $393.0 million and a P/E ratio of 44.56.
United Financial Bancorp (NASDAQ:UBNK) last announced its earnings results on Thursday, October 17th. The company reported $0.23 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.26 by $0.03. Analysts expect that United Financial Bancorp will post $0.94 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 29th. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Tuesday, November 5th.
United Financial Bancorp, Inc is a holding company for United Bank (NASDAQ:UBNK).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.