Keefe, Bruyette and Woods Downgrades Westfield Financial (WFD) to Market Perform
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Keefe, Bruyette and Woods downgrades Westfield Financial Inc. (NYSE: WFD) from Outperform to Market Perform. Price target $11
Keefe analyst says, "With the shares of WFD increasing in recent weeks and closing above our target on Friday, we are lowering our rating to Market Perform from Outperform based on valuation. Our fundamental view remains unchanged at this time as we expect deployment of excess capital through in-market opportunities, a consistent dividend policy and share repurchase. Our target remains a function of a blended book value approach as we maintain our target."
Westfield Financial, Inc. (Westfield Financial) serves as a holding company for Westfield Bank (the Bank), which is a provider of banking products and services to businesses and individuals.
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