- Sterne Agee and KBW each upgrade Rockville Financial (NASDAQ:RCKB) to Buy in wake of the bank's merger with United Financial Bancorp (NASDAQ:UBNK).
- KBW also boosts United to a Buy with $21.50 price target.
- United Shareholders will receive 1.3472 shares of stock for each share of United they own, and the two banks expect $17.6M of annual cost savings (roughly 15% of their combined expenses). The merger is expected to be about 30% accretive to the stand-alone 2015 earnings of both lenders.