United Financial Bancorp, Inc. (UBNK) Stake Increased by ClariVest Asset Management LLC
ClariVest Asset Management LLC boosted its stake in United Financial Bancorp, Inc. (NASDAQ:UBNK) by 38.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 15,508 shares of the bank’s stock after buying an additional 4,308 shares during the period. ClariVest Asset Management LLC’s holdings in United Financial Bancorp were worth $259,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the company. Sei Investments Co. boosted its stake in shares of United Financial Bancorp by 71.5% in the second quarter. Sei Investments Co. now owns 6,187 shares of the bank’s stock valued at $103,000 after buying an additional 2,579 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of United Financial Bancorp during the first quarter valued at approximately $185,000. Janney Montgomery Scott LLC boosted its stake in shares of United Financial Bancorp by 10.3% in the first quarter. Janney Montgomery Scott LLC now owns 11,168 shares of the bank’s stock valued at $190,000 after buying an additional 1,044 shares during the last quarter. Aperio Group LLC purchased a new stake in shares of United Financial Bancorp during the second quarter valued at approximately $254,000. Finally, Nine Chapters Capital Management LLC purchased a new stake in shares of United Financial Bancorp during the first quarter valued at approximately $274,000. 64.61% of the stock is currently owned by hedge funds and other institutional investors.
United Financial Bancorp, Inc. (NASDAQ:UBNK) opened at 16.86 on Monday. The firm has a market cap of $846.89 million, a price-to-earnings ratio of 14.55 and a beta of 0.65. United Financial Bancorp, Inc. has a 52-week low of $13.32 and a 52-week high of $18.66. The firm has a 50-day moving average of $17.50 and a 200 day moving average of $17.27.
United Financial Bancorp (NASDAQ:UBNK) last announced its quarterly earnings data on Tuesday, July 18th. The bank reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.06. United Financial Bancorp had a net margin of 22.95% and a return on equity of 8.83%. The business had revenue of $55.80 million for the quarter, compared to analyst estimates of $54.22 million. During the same period in the prior year, the business posted $0.20 earnings per share. On average, equities research analysts forecast that United Financial Bancorp, Inc. will post $1.18 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 9th. Investors of record on Friday, July 28th were issued a $0.12 dividend. The ex-dividend date was Wednesday, July 26th. This represents a $0.48 annualized dividend and a yield of 2.85%. United Financial Bancorp’s dividend payout ratio is currently 41.38%.
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Several equities research analysts recently commented on the company. BidaskClub cut United Financial Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. Piper Jaffray Companies reissued a “hold” rating and set a $17.00 target price on shares of United Financial Bancorp in a report on Friday, July 14th. Finally, ValuEngine raised United Financial Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, May 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $17.33.
In related news, CEO William Hw Iv Crawford sold 17,000 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $18.14, for a total value of $308,380.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael A. Bars sold 2,350 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $18.18, for a total transaction of $42,723.00. Following the completion of the transaction, the director now owns 64,821 shares in the company, valued at $1,178,445.78. The disclosure for this sale can be found here. Corporate insiders own 3.39% of the company’s stock.
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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