Banks Quarterly Performance Updates: New Research on Chicopee, CMS Bancorp, Entegra, ESSA Bancorp, and First Connecticut
NEW YORK, February 12, 2015 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Moments ago, Analysts Review released new research updates concerning several important developing situations including Chicopee (NASDAQ: CBNK), CMS Bancorp (NASDAQ: CMSB), Entegra (NASDAQ: ENFC), ESSA Bancorp (NASDAQ: ESSA), and First Connecticut (NASDAQ: FBNK). Analysts Review provides a single unified platform for investors' to hear about what matters - proudly employing registered CFA® research staff and rigorous compliance procedures. The full research reports are being made available to the public for informational purposes only.
To access our full PDF reports on a complementary basis, please visit the links below.
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Today's update concerns the following companies:
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Full PDF Download Links (you may have to copy and paste the following links into your browser):
CBNK Research Report: ( http://get.analystsreview.com/pdf/?c=Chicopee&d=12-Feb-2015&s=CBNK ),
CMSB Research Report: ( http://get.analystsreview.com/pdf/?c=CMS%20Bancorp&d=12-Feb-2015&s=CMSB ),
ENFC Research Report: ( http://get.analystsreview.com/pdf/?c=Entegra&d=12-Feb-2015&s=ENFC ),
ESSA Research Report: ( http://get.analystsreview.com/pdf/?c=ESSA%20Bancorp&d=12-Feb-2015&s=ESSA ),
FBNK Research Report: ( http://get.analystsreview.com/pdf/?c=First%20Connecticut&d=12-Feb-2015&s=FBNK ).
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Analyst Update: Quarterly Earnings and Merger Deals
Reviewed by: Rohit Tuli, CFA®
U.S. stocks closed effectively flat in a relatively quiet trading session on Wednesday, February 11, as investors fixed their eyes on the developments of an emergency meeting of the eurozone countries to discuss Greece's finances. S&P 500 closed flat at 2,068.53, the Dow Jones Industrial Average edged lower 0.04% to 17,862.14 and Nasdaq Composite moved up 0.3% to close at 4,801.18. The European markets closed lower as investors awaited the outcome of the crucial meeting over financial aid to Greece, part of the several meetings scheduled over the coming days to decide the future of financial aid to Greece. The Asian markets ended mostly higher following a firm finish of global stocks on the preceding day, as well as driven by hopes for a deal between Greece and its international creditors.
Chicopee Bancorp, Inc. (Chicopee), the holding company for Chicopee Savings Bank, reported that its fourth quarter 2014 net income declined to $0.30 million or $0.06 per share, from $0.67 million or $0.14 per share in the year ago period. Analysts polled by Reuters expected the Company to report a profit of $0.11 per share.
CMS Bancorp, Inc. (CMS Bancorp), the holding company for CMS Bank, has entered into a definitive agreement which provides for the acquisition of CMS Bancorp and CMS Bank by Putnam County Savings Bank (PCSB).
Entegra Financial Corp. (Entegra) swung to a net profit in fourth quarter and full-year 2014, helped by reduction in non-performing assets and related costs. For the quarter, Entegra's net income came in at $1.3 million or $0.20 per share, compared to a net loss of $2.3 million for the fourth quarter of 2013.
ESSA Bancorp, Inc. (ESSA Bancorp), the holding Company for ESSA Bank & Trust, reported that its first quarter fiscal 2015 net income increased 29.5% YoY to $2.6 million, reflecting contributions from the acquisition of Franklin Security Bancorp, which was closed during the Company's fiscal 2014 third quarter.
First Connecticut Bancorp, Inc. (First Connecticut), the holding company for Farmington Bank, announced that its fourth quarter 2014 net income increased 25.6% QoQ to $3.1 million, helped mainly by increased net interest income and decline in provision for loan losses.
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Editor Note: This is not company news. We are an independent source and our views do not reflect the companies mentioned.
Compliance Procedure: Content is researched, written and reviewed on a best-effort basis. This document, article or report is prepared and authored by Analysts Review, represented by Rohit Tuli, CFA®. An outsourced research services provider has only reviewed the information provided by Analysts Review in this article or report according to the procedures outlined by Analysts Review. Analysts Review is not entitled to veto or interfere in the application of such procedures by the outsourced provider to the articles, documents or reports, as the case may be.
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