FBR Capital Reiterates a 'Market Perform' on ViewPoint Financial (VPFG); Clouded View of Earnings Growth

FBR Capital reiterates a 'Market Perform' on ViewPoint Financial (NASDAQ: VPFG), PT $13.

FBR analyst says, "We reiterate our rating and price target on ViewPoint following the 1Q11 earnings release in which the company reported operating EPS of $0.12, compared with FBR's estimate and the consensus expectation of $0.17 and $0.19, respectively. The miss was largely due to weakerthan-expected net interest income, driven by a significant decline in the company's Warehouse Purchase Program, which resulted in NIM contraction...We are adjusting our FY11 operating EPS estimates to $0.59 from $0.62 and our 2012 operating EPS estimate to $0.70 from $0.65, due to weaker NIM expectations offset by lower credit costs."

For more ratings news on ViewPoint Financial click here and for the rating history of ViewPoint Financial click here.

Shares of ViewPoint Financial closed at $12.35 yesterday.

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