Keefe, Bruyette & Woods Upgrades Union First Market Bankshares (UBSH) to Outperform

Keefe, Bruyette & Woods upgraded Union First Market Bankshares (NASDAQ: UBSH) to Outperform. PT $15.

KBW analyst says, "UBSH beat the Street and our estimate primarily on higher spread income and a lower provision. NPL inflows dropped from last quarter, leaving NPAs steady at 3.9%. TCE and TBV improved to 8.5% and $12.18 per share, respectively. Raising 2011 EPS, but lowering 2012."

For more ratings news on Union First Market Bankshares click here and for the rating history of Union First Market Bankshares click here.

Shares of Union First Market Bankshares closed at $12.11 yesterday.

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