The Manufacturers Life Insurance Company Grows Position in United Financial Bancorp, Inc. (NASDAQ:UBNK)

The Manufacturers Life Insurance Company boosted its holdings in United Financial Bancorp, Inc. (NASDAQ:UBNK) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,078,032 shares of the bank’s stock after purchasing an additional 18,266 shares during the quarter. The Manufacturers Life Insurance Company owned about 2.15% of United Financial Bancorp worth $17,992,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Alps Advisors Inc. raised its position in United Financial Bancorp by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 28,201 shares of the bank’s stock worth $471,000 after buying an additional 73 shares during the last quarter. People s United Financial Inc. grew its stake in shares of United Financial Bancorp by 0.6% during the 2nd quarter. People s United Financial Inc. now owns 13,134 shares of the bank’s stock worth $219,000 after purchasing an additional 81 shares during the period. Patriot Financial Group Insurance Agency LLC grew its stake in shares of United Financial Bancorp by 1.4% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 25,520 shares of the bank’s stock worth $430,000 after purchasing an additional 360 shares during the period. Legal & General Group Plc grew its stake in shares of United Financial Bancorp by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 12,337 shares of the bank’s stock worth $207,000 after purchasing an additional 385 shares during the period. Finally, Mutual of America Capital Management LLC grew its stake in shares of United Financial Bancorp by 0.8% during the 2nd quarter. Mutual of America Capital Management LLC now owns 53,668 shares of the bank’s stock worth $896,000 after purchasing an additional 442 shares during the period. Hedge funds and other institutional investors own 64.71% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This article was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://www.dispatchtribunal.com/2017/10/27/united-financial-bancorp-inc-ubnk-stake-lifted-by-the-manufacturers-life-insurance-company.html.

United Financial Bancorp, Inc. (NASDAQ:UBNK) traded up 0.76% on Friday, reaching $18.60. 26,742 shares of the company’s stock were exchanged. The stock has a market capitalization of $934.89 million, a P/E ratio of 15.78 and a beta of 0.66. The firm’s 50 day moving average is $17.85 and its 200 day moving average is $17.36. United Financial Bancorp, Inc. has a 1-year low of $14.23 and a 1-year high of $18.99.

United Financial Bancorp (NASDAQ:UBNK) last released its quarterly earnings data on Tuesday, October 17th. The bank reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.01. United Financial Bancorp had a return on equity of 8.94% and a net margin of 22.67%. The company had revenue of $54.84 million during the quarter, compared to analysts’ expectations of $56.29 million. During the same period last year, the firm posted $0.28 earnings per share. Analysts expect that United Financial Bancorp, Inc. will post $1.18 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 8th. Stockholders of record on Friday, October 27th will be given a $0.12 dividend. The ex-dividend date of this dividend is Thursday, October 26th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.60%. United Financial Bancorp’s payout ratio is 40.68%.

In other news, CEO William Hw Iv Crawford sold 17,000 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $18.14, for a total value of $308,380.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.49% of the company’s stock.

A number of research firms have recently weighed in on UBNK. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $21.00 price target on shares of United Financial Bancorp in a research note on Tuesday, October 3rd. BidaskClub cut shares of United Financial Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. Finally, 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.

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.

Institutional Ownership by Quarter for United Financial Bancorp (NASDAQ:UBNK)

Receive News & Ratings for United Financial Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Financial Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply