Keefe, Bruyette & Woods Starts Beacon Federal Bancorp (BFED) at Market Perform; Aspiring to Be a Beacon in Banking

Keefe, Bruyette & Woods initiates coverage on Beacon Federal Bancorp (NASDAQ: BFED) with a Market Perform. PT $15.00.

KBW analyst says, "In our view, Beacon Federal Bancorp, Inc. benefits from solid capital levels reflective of its full conversion in 2007. However, while we believe that deployment of this capital can lead to increased shareholder value, we feel that the time needed to build out a branch network and illiquidity in the stock will keep valuation in check."

INDUSTRY OPINION: We advocate a market weight position on the regional banks. While fundamentals remain under pressure, with late cycle credit risk, higher regulatory expenses & service charge headwinds, the industry has better access to capital & is now far enough through the credit cycle, given current valuations, in our view.

For more ratings news on Beacon Federal Bancorp click here and for the rating history of Beacon Federal Bancorp click here.

Shares of Beacon Federal Bancorp closed at $13.10 yesterday.

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