FBR Capital Reiterates a 'Market Perform' on Beneficial Mutual Bancorp (BNCL); Lackluster Core Trends Join Credit Concerns

FBR Capital reiterates a 'Market Perform' on Beneficial Mutual Bancorp (NASDAQ: BNCL), PT $10.

FBR analyst says, "BNCL's slow and steady earnings model, along with regulatory uncertainty surrounding MHCs and its credit woes, put us on the sidelines with regard to the shares. Should the company successfully resolve its credit problems and announce a time line for its second-step conversion, we could become more constructive on the shares."

"We are adjusting our operating EPS estimate for FY11 to $0.14 from $0.24 and our FY12 estimate to $0.27 from $0.35."

For more ratings news on Beneficial Mutual Bancorp click here and for the rating history of Beneficial Mutual Bancorp click here.

Shares of Beneficial Mutual Bancorp closed at $8.34 yesterday.

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