Piper Jaffray Weighs in on United Financial Bancorp’s Q2 2018 Earnings (UBNK)

United Financial Bancorp (NASDAQ:UBNK) – Research analysts at Piper Jaffray lowered their Q2 2018 EPS estimates for United Financial Bancorp in a report released on Thursday, April 19th. Piper Jaffray analyst M. Breese now expects that the bank will earn $0.29 per share for the quarter, down from their prior forecast of $0.30. Piper Jaffray also issued estimates for United Financial Bancorp’s Q3 2018 earnings at $0.30 EPS, Q2 2019 earnings at $0.33 EPS, Q4 2019 earnings at $0.35 EPS and FY2019 earnings at $1.35 EPS.

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UBNK has been the subject of several other reports. Sandler O’Neill set a $20.00 target price on shares of United Financial Bancorp and gave the company a “buy” rating in a report on Wednesday, January 24th. BidaskClub lowered shares of United Financial Bancorp from a “sell” rating to a “strong sell” rating in a report on Saturday, January 6th. Keefe, Bruyette & Woods lowered shares of United Financial Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 7th. Finally, Hovde Group reaffirmed a “hold” rating on shares of United Financial Bancorp in a report on Friday, January 26th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. United Financial Bancorp has an average rating of “Hold” and a consensus price target of $19.33.

NASDAQ:UBNK opened at $16.89 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 1.69. The company has a market cap of $852.79, a PE ratio of 14.42 and a beta of 0.66. United Financial Bancorp has a 1-year low of $15.47 and a 1-year high of $19.35.

United Financial Bancorp (NASDAQ:UBNK) last posted its earnings results on Tuesday, April 17th. The bank reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.03. The firm had revenue of $55.83 million during the quarter. United Financial Bancorp had a net margin of 20.33% and a return on equity of 8.61%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Sterling Capital Management LLC boosted its stake in United Financial Bancorp by 9.8% during the 4th quarter. Sterling Capital Management LLC now owns 188,306 shares of the bank’s stock worth $3,322,000 after purchasing an additional 16,825 shares during the last quarter. Renaissance Technologies LLC boosted its stake in United Financial Bancorp by 9.9% during the 4th quarter. Renaissance Technologies LLC now owns 1,621,912 shares of the bank’s stock worth $28,611,000 after purchasing an additional 146,300 shares during the last quarter. Systematic Financial Management LP boosted its stake in United Financial Bancorp by 9.2% during the 4th quarter. Systematic Financial Management LP now owns 1,243,574 shares of the bank’s stock worth $21,937,000 after purchasing an additional 105,014 shares during the last quarter. Allianz Asset Management GmbH acquired a new stake in United Financial Bancorp during the 3rd quarter worth $960,000. Finally, Cornerstone Capital Management Holdings LLC. boosted its stake in United Financial Bancorp by 82.4% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 18,600 shares of the bank’s stock worth $339,000 after purchasing an additional 8,400 shares during the last quarter. 66.11% of the stock is currently owned by institutional investors.

In related news, EVP Mark A. Kucia sold 6,583 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $16.04, for a total value of $105,591.32. Following the completion of the sale, the executive vice president now owns 68,964 shares of the company’s stock, valued at approximately $1,106,182.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.37% of the stock is currently owned by insiders.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 9th. Investors of record on Friday, April 27th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.84%. The ex-dividend date is Thursday, April 26th. United Financial Bancorp’s payout ratio is presently 42.86%.

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About United Financial Bancorp

United Financial Bancorp, Inc operates as the holding company for United Bank that provides retail, commercial, and consumer banking services to individuals, families, and businesses. The company accepts various deposits, such as interest-bearing checking, non-interest-bearing checking, regular savings, money market savings, and time deposits.

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