Short Interest in United Financial Bancorp, Inc. (UBNK) Declines By 25.5%
United Financial Bancorp, Inc. (NASDAQ:UBNK) saw a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 387,912 shares, a drop of 25.5% from the August 31st total of 521,029 shares. Based on an average daily volume of 129,024 shares, the days-to-cover ratio is presently 3.0 days. Currently, 0.8% of the company’s stock are sold short.
United Financial Bancorp (NASDAQ:UBNK) opened at 18.39 on Wednesday. The stock has a 50 day moving average of $17.26 and a 200 day moving average of $17.15. United Financial Bancorp has a 52 week low of $13.51 and a 52 week high of $18.66. The stock has a market capitalization of $923.75 million, a P/E ratio of 15.87 and a beta of 0.66.
United Financial Bancorp (NASDAQ:UBNK) last issued its quarterly earnings data on Tuesday, July 18th. The bank reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.06. United Financial Bancorp had a return on equity of 8.83% and a net margin of 22.95%. The business had revenue of $55.80 million for the quarter, compared to analyst estimates of $54.22 million. During the same quarter in the prior year, the firm posted $0.20 EPS. On average, equities research analysts predict that United Financial Bancorp will post $1.17 earnings per share for the current fiscal year.
Several equities research analysts recently commented on UBNK shares. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $21.00 target price on shares of United Financial Bancorp in a report on Tuesday. BidaskClub raised United Financial Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $17.00 price target on shares of United Financial Bancorp in a report on Friday, July 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. United Financial Bancorp currently has a consensus rating of “Hold” and an average price target of $17.67.
In other news, CEO William Hw Iv Crawford sold 17,000 shares of the company’s stock in a transaction dated 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael A. Bars sold 2,350 shares of the company’s stock in a transaction dated Thursday, July 27th. The stock was 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 of the company’s stock, 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.
A number of institutional investors have recently made changes to their positions in UBNK. Dimensional Fund Advisors LP grew its holdings in United Financial Bancorp by 4.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,502,288 shares of the bank’s stock valued at $58,454,000 after purchasing an additional 140,843 shares during the last quarter. Vanguard Group Inc. raised its position in shares of United Financial Bancorp by 1.1% in the second quarter. Vanguard Group Inc. now owns 2,087,944 shares of the bank’s stock valued at $34,848,000 after purchasing an additional 23,464 shares during the period. Renaissance Technologies LLC raised its position in shares of United Financial Bancorp by 10.4% in the first quarter. Renaissance Technologies LLC now owns 1,432,612 shares of the bank’s stock valued at $24,369,000 after purchasing an additional 135,373 shares during the period. Northern Trust Corp raised its position in shares of United Financial Bancorp by 1.8% in the second quarter. Northern Trust Corp now owns 1,353,011 shares of the bank’s stock valued at $22,582,000 after purchasing an additional 24,374 shares during the period. Finally, State Street Corp raised its position in shares of United Financial Bancorp by 8.7% in the second quarter. State Street Corp now owns 1,196,524 shares of the bank’s stock valued at $19,969,000 after purchasing an additional 95,296 shares during the period. 64.73% of the stock is owned by hedge funds and other institutional investors.
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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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