Keefe, Bruyette & Woods Starts Provident New York Bancorp (PBNY) at Market Perform; A New Leader with a New York State of Mind

Keefe, Bruyette & Woods initiates coverage on Provident New York Bancorp (NASDAQ: PBNY) with a Market Perform. PT $7.50.

KBW analyst ays, "We view Provident New York Bancorp as an attractive community bank that is currently in transition as its recently hired chief executive officer embarks on a plan to grow market share and improve earnings. While valuation currently appears attractive on a tangible book value basis, we look for greater earnings clarity before becoming more constructive on the shares."

For an analyst ratings summary and ratings history on Provident New York Bancorp click here. For more ratings news on Provident New York Bancorp click here.

Shares of Provident New York Bancorp closed at $6.93 yesterday.

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