Keefe, Bruyette & Woods Downgrades ViewPoint Financial (VPFG) to Market Perform; Valuation Call

Keefe, Bruyette & Woods downgraded ViewPoint Financial (NASDAQ: VPFG) from Outperform to Market Perform. PT $14.

KBW analyst says, "VPFG recently applied to convert the bank's charter to a national bank charter from a thrift charter. We believe these changes are due to the evolving commercial banking strategy and we believe the previous OTS restrictions regarding buybacks and the sale of the company will remain in place. Unrelated to the potential charter change, we are also downgrading the shares to MP due to valuation."

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 $13.17 yesterday.

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