United Financial Bancorp, Inc. (UBNK) Stake Cut by Credit Suisse AG
Credit Suisse AG reduced its position in United Financial Bancorp, Inc. (NASDAQ:UBNK) by 15.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,924 shares of the bank’s stock after selling 15,796 shares during the period. Credit Suisse AG’s holdings in United Financial Bancorp were worth $1,479,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in United Financial Bancorp during the fourth quarter worth approximately $1,150,000. Teachers Advisors LLC raised its position in United Financial Bancorp by 36.4% in the fourth quarter. Teachers Advisors LLC now owns 142,062 shares of the bank’s stock worth $2,580,000 after buying an additional 37,877 shares in the last quarter. Creative Planning raised its position in United Financial Bancorp by 1.6% in the first quarter. Creative Planning now owns 32,175 shares of the bank’s stock worth $547,000 after buying an additional 500 shares in the last quarter. First Manhattan Co. acquired a new position in United Financial Bancorp during the first quarter worth approximately $362,000. Finally, Acadian Asset Management LLC acquired a new position in United Financial Bancorp during the first quarter worth approximately $701,000. 64.61% of the stock is currently owned by institutional investors.
United Financial Bancorp, Inc. (UBNK) traded up 0.11% during trading on Tuesday, reaching $17.42. The company’s stock had a trading volume of 10,626 shares. United Financial Bancorp, Inc. has a 1-year low of $13.22 and a 1-year high of $18.66. The stock has a market cap of $875.02 million, a P/E ratio of 15.03 and a beta of 0.65. The company’s 50 day moving average price is $17.47 and its 200-day moving average price is $17.29.
United Financial Bancorp (NASDAQ:UBNK) last issued its earnings results on Tuesday, July 18th. The bank reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.06. The firm had revenue of $55.80 million for the quarter, compared to the consensus estimate of $54.22 million. United Financial Bancorp had a return on equity of 8.83% and a net margin of 22.95%. During the same quarter last year, the business posted $0.20 EPS. Equities analysts forecast that United Financial Bancorp, Inc. will post $1.18 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 9th. Shareholders of record on Friday, July 28th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Wednesday, July 26th. United Financial Bancorp’s dividend payout ratio is presently 41.38%.
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A number of equities analysts have commented on UBNK shares. Keefe, Bruyette & Woods raised United Financial Bancorp from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $18.50 to $20.00 in a research note on Thursday, April 20th. ValuEngine raised United Financial Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, May 31st. Piper Jaffray Companies reissued a “hold” rating and issued a $17.00 price objective on shares of United Financial Bancorp in a research note on Friday, July 14th. Finally, BidaskClub raised United Financial Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $17.33.
In other United Financial Bancorp news, CEO William Hw Iv Crawford sold 17,000 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $18.14, for a total value of $308,380.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael A. Bars sold 2,350 shares of the firm’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $18.18, for a total value of $42,723.00. Following the completion of the sale, the director now directly owns 64,821 shares in the company, valued at approximately $1,178,445.78. The disclosure for this sale can be found here. Company insiders own 3.39% of the company’s stock.
United Financial Bancorp Company Profile
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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