United Financial Bancorp Inc (NASDAQ:UBNK) Shares Bought by Castine Capital Management LLC

Castine Capital Management LLC grew its position in United Financial Bancorp Inc (NASDAQ:UBNK) by 79.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,746,000 shares of the bank’s stock after purchasing an additional 772,038 shares during the quarter. United Financial Bancorp comprises approximately 7.8% of Castine Capital Management LLC’s investment portfolio, making the stock its biggest holding. Castine Capital Management LLC’s holdings in United Financial Bancorp were worth $25,055,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Legal & General Group Plc lifted its stake in shares of United Financial Bancorp by 9.8% during the fourth quarter. Legal & General Group Plc now owns 9,041 shares of the bank’s stock worth $133,000 after buying an additional 809 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of United Financial Bancorp by 2.1% during the first quarter. Commonwealth Equity Services LLC now owns 51,094 shares of the bank’s stock worth $733,000 after buying an additional 1,032 shares during the period. Ramsey Quantitative Systems lifted its stake in shares of United Financial Bancorp by 62.9% during the fourth quarter. Ramsey Quantitative Systems now owns 4,072 shares of the bank’s stock worth $60,000 after buying an additional 1,572 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of United Financial Bancorp by 8.0% during the first quarter. The Manufacturers Life Insurance Company now owns 34,561 shares of the bank’s stock worth $496,000 after buying an additional 2,572 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in shares of United Financial Bancorp by 2.8% during the first quarter. Wells Fargo & Company MN now owns 94,090 shares of the bank’s stock worth $1,350,000 after buying an additional 2,592 shares during the period. 68.12% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently commented on UBNK. BidaskClub downgraded shares of United Financial Bancorp from a “sell” rating to a “strong sell” rating in a research note on Friday, March 22nd. ValuEngine downgraded shares of United Financial Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Sandler O’Neill downgraded shares of United Financial Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, April 17th. Finally, Zacks Investment Research upgraded shares of United Financial Bancorp from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 27th.

NASDAQ UBNK traded up $0.08 on Friday, reaching $13.60. 141,844 shares of the company’s stock traded hands, compared to its average volume of 209,505. The company has a market capitalization of $695.35 million, a PE ratio of 12.25 and a beta of 0.66. United Financial Bancorp Inc has a fifty-two week low of $12.82 and a fifty-two week high of $18.33. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.03 and a quick ratio of 1.03.

United Financial Bancorp (NASDAQ:UBNK) last posted its earnings results on Tuesday, April 16th. The bank reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.03). The business had revenue of $55.92 million for the quarter, compared to analyst estimates of $56.60 million. United Financial Bancorp had a net margin of 17.79% and a return on equity of 7.86%. Research analysts expect that United Financial Bancorp Inc will post 1.02 earnings per share for the current year.

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United Financial Bancorp Company Profile

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 and non-interest-bearing checking, regular savings, money market savings, and time deposits.

Read More: Convertible Shares

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

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