UP!

UBNK $14.12

UBNK target price
14.12
0
0
United Financial Bancorp, Inc.
Type
Public company
Traded as NASDAQ: UBNK
Industry Financial services, banking
Founded 2005; 12 years ago (2005)
Headquarters Glastonbury, CT
Key people
William H.W. Crawford, IV.
(CEO)
Net income
$16.2 million (Q2 2017) or $0.32 per share
Total assets US $6.88 billion  (Q1 2017)
Number of employees
750 (2017)
Website Official website

United Financial Bancorp, Inc. is an American holding company for United Bank, a financial services company firm serving Connecticut and Massachusetts. United Bank is headquartered in Glastonbury, Connecticut. William H.W. Crawford, IV is Chief Executive Officer (CEO) of the Bank and the Holding Company.

On April 30, 2014, United Bank (West Springfield, Massachusetts) and Rockville Bank (Glastonbury, Connecticut) merged. Now United Financial Bancorp, Inc., the holding company for United Bank, is a full service financial services firm offering a complete line of commercial and consumer banking products and services to customers throughout Connecticut and Massachusetts. United, the third largest public bank headquartered in Connecticut, is a financially strong, leading commercial bank with more than 50 branches and various commercial and residential loan production offices. United Financial Bancorp, Inc. trades on the NASDAQ Global Select Stock Exchange under the ticker symbol "UBNK". At June 30, 2017, the Company had $6.88 billion in assets and delivered its 45th consecutive dividend to shareholders.

1858: The Savings Bank of Rockville (now named United Bank after Rockville Bank acquired United in 2014) was founded by twenty local businessmen in Rockville, Connecticut, declaring $175.00 in total assets.

1882: United Bank was founded as Springfield Cooperative Savings Fund and Loan Association, then becoming Springfield Cooperative Bank in 1883.

1960: After merging with Highland Cooperative Bank in 1960 and West Springfield Cooperative Bank in 1968, Springfield Cooperative Bank became United Cooperative Bank.

2000: Savings Bank of Rockville changed its name to Rockville Bank.

2004: United Cooperative Bank changed its name to United Bank, converted to a federal charter and formed a mutual holding company.

2005: Rockville Financial, Inc. the holding company for Rockville Bank, (now named United Financial Bancorp, Inc. after it acquired United Financial in 2014) became a public company and was no longer a non-stock or mutual holding company. United’s mutual holding company initial public offering UBNK on NASDAQ.

2007: United Financial Bancorp, Inc. was incorporated as the holding company for United Bank and completed its second step conversion, becoming a fully public company.

2009: United Financial Bancorp, Inc. completed its acquisition of CNB Financial Corp., parent of Commonwealth National Bank.

2011: Rockville Financial, Inc. (“RCKB”) completed its second step conversion and became a fully public company. William H.W. Crawford, IV joined the Bank in January and officially became CEO in April.

2012: United Financial completed the acquisition of New England Bancshares, Inc., the holding company for New England Bank.

2013: Rockville Bank and United Bank announced plans for a merger of equals, a combined Bank to be led by William H.W. Crawford, IV, CEO.

2014: Rockville was the legal acquirer of United, completed the acquisition of United and immediately changed its name to United Financial Bancorp, Inc. Rockville Bank changed its name to United Bank at that time. As part of the merger, Richard B. Collins, President and CEO of legacy United Bank, retires after 12 years with the Bank.

2014: The “new” United Bank completed its core data processor conversion, officially becoming one United Bank with "community banking teams" covering key market areas throughout Connecticut and Massachusetts.

2015: The Rockville Bank Foundation changes its name to United Bank Foundation Connecticut. The United Bank Foundation changes its name to United Bank Foundation Massachusetts. Total charitable giving in 2015 was $1.2 million.

2015: For 2015, the Company's return on average assets ("ROA") was 0.87%, and return on average equity ("ROE") was 8.08%.

2016: On October 18, the Company announced record quarterly earnings for Q3 2016 and their 42nd consecutive quarterly dividend ($0.12 per share) to shareholders.

2017: On February 14, 2017, the Company announced it would be relocating its Administrative Offices from Glastonbury, Connecticut to the Goodwin Square office tower in downtown Hartford, bringing over 200 jobs to Hartford's Central Business District.

2017: On March 31, 2017, the Company announced record revenue and record pre-tax profit, growing its total assets to $6.7 billion.

2017: United Bank Foundation Connecticut and United Bank Foundation Massachusetts, along with the Bank, announced that together they invested over $1.2 million in various community partnerships throughout Connecticut and Massachusetts.

2017: On June 30, 2017, the Company announced record earnings per share of $0.32 for Q2 2017 and its 45th consecutive dividend. As of June 30, the Company's assets totaled $6.88 billion.

2017: United Financial Bancorp, Inc. was named by FORTUNE Magazine to their 100 Fastest Growing Companies List for 2017. United Financial ranked #39 out of 100.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q3 2019 2019-10-18 0.00 0.25
Q2 2019 2019-07-16 0.00 -0.06
Q1 2019 2019-04-16 0.00 0.25
Q4 2018 2019-01-22 0.00 0.24
Q3 2018 2018-10-16 0.00 0.32

Ratings

2016-04-21 Downgrade Piper Jaffray Overweight to Neutral $12.50
2016-04-21 Downgrade Piper Jaffray Cos. Overweight to Neutral $12.50
2016-01-28 Lower Price Target RBC Capital Sector Perform $14.00 to $12.00
2016-01-28 Reiterated Rating Piper Jaffray Buy $13.50 to $12.50
2016-01-28 Lower Price Target Royal Bank Of Canada Sector Perform $14.00 to $12.00
2016-01-19 Upgrade Piper Jaffray Neutral to Overweight $13.50
2015-11-16 Initiated Coverage Hovde Group Outperform $15.00
2015-06-05 Initiated Coverage Piper Jaffray Neutral $13.50
2015-01-29 Downgrade Keefe, Bruyette & Woods Outperform to Market Perform $15.50 to $14.00
2015-01-13 Initiated Coverage RBC Capital Sector Perform $14.00
2014-12-31 Set Price Target Keefe, Bruyette & Woods Buy $15.50
2014-10-24 Reiterated Rating Keefe, Bruyette & Woods Outperform $16.00 to $15.50
2013-11-22 Upgrade Sterne Agee CRT Neutral to Buy $22.25
2013-11-19 Upgrade Sterne Agee CRT Neutral to Buy
2013-11-19 Upgrade Leerink Swann Market Perform to Outperform
2013-11-19 Upgrade Keefe, Bruyette & Woods Market Perform to Outperform
2010-04-19 Reiterated Stifel Nicolaus Buy $16 to $17
2008-01-14 Initiated Stifel Nicolaus Buy $13
2016-04-21 Downgrade Piper Jaffray Overweight to Neutral $12.50
2016-04-21 Downgrade Piper Jaffray Cos. Overweight to Neutral $12.50
2016-01-28 Lower Price Target RBC Capital Sector Perform $14.00 to $12.00
2016-01-28 Reiterated Rating Piper Jaffray Buy $13.50 to $12.50
2016-01-28 Lower Price Target Royal Bank Of Canada Sector Perform $14.00 to $12.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
Harvey Keith E EVP of Affiliate 0.28%  (54536) UBNK /
Clark William SVP of Affiliate 0.07%  (14522) UBNK /