KBW

KBW has a Market Perform rating and a $12.50 price target on shares of DiamondRock Hospitality Co. (NYSE: DRH) following earnings. In a note to clients, KBW writes, "Following DRH's 1Q11 results and 10-Q filing we are adjusting 2011 and lowering 2012 estimates modestly on higher interest expense....

KBW has a Market Perform rating and a $100 price target on shares of Boston Properties (NYSE: BXP) following earnings. In a note to investors, KBW writes, "BXP 1Q FFO/sh was $1.12, $0.02 ahead of our estimate, upside driven by core portfolio results. SS NOI +7.6% vs. +2.7% in 4Q. Lowered top-end...

Following Ares Capital Corporation (NASDAQ: ARCC) earnings results, “we are lowering our 2011 and 2012 Core EPS estimates to $1.36 (from $1.44) and $1.53 (from $1.64), respectively,” KBW reports. “However, we are maintaining our $18 price target and Market Perform rating,” KBW adds. Ares Capital...

KBW has a Market Perform rating and a $40 price target on shares of Sun Communities Inc. (NYSE: SUI) following earnings. In a note to investors, KBW writes, "1Q11 FFO exceeded expectations on better expenses and interest, offset by G&A. 1Q same-property NOI +4.2% YOY; rev +3.1%, exp -0.6%....

KBW is out with its report today on KKR Financial Holdings (NYSE: KFN), maintaining Outperform. In a note to clients, KBW writes, "Following KKR Financial Holdings' 1Q11 results, we are raising our 2011 EPS estimate to $1.63 (from $1.52), but modestly lowering our 2012 EPS estimate to $1.63 (from...

KBW is out with its report today on Bridge Capital Holdings (NASDAQ: BBNK), resuming coverage at Outperform. In a note to clients, KBW writes, "We are resuming coverage of BBNK with an Outperform rating. In our opinion, there is scarcity value in the banks that operate in the Silicon Valley, which...

KBW is out with its report today on Meadowbrook Insurance Group (NYSE: MIG), reiterating Outperform. In a note to clients, KBW writes, "Meadowbrook reported a 1Q11 beat on better than expected underwriting results and premium production. Normalized for $0.04/share of favorable reserve development...

An EPS loss of $10.82 operating “vs our loss of $11.96 estimate (includes Sunday's preannouncement) with the ‘beat' coming from 16% of reserve release vs our 8% estimate,” KBW wrote in a report regarding PartnerRe Ltd. (NYSE: PRE). “Book value is now $82.50,” KBW writes. “Buyback was 2.8m (...

UDR, Inc.'s (NYSE: UDR) 1Q FFO/sh “met expectations, as pricing / demand trends continued recent improvement (NOI +3.0%),” KBW reports. “FY11 rev/NOI and FFO/sh outlook unchanged for now ($1.23 midpt; KBW $1.26), but trending to upper end of range; we anticipate midyear increase,” KBW writes. “ATM...

Endurance Specialty Holdings Ltd. (NYSE: ENH) reported a 1Q11 ROCK of [$(2.25), $(2.47), $(2.32), $(2.80)], KBW reports. “Results beat on higher reserve releases, offset by weaker current AY results and a higher expense ratio, while cats were as pre-announced and in-line with our model,” KBW...

Despite the weather, “we viewed the quarter's results as good but we also expect investor focus is appropriately on the pending Chaucer acquisition which will materially change the company's business mix and earnings stream,” KBW wrote in a report regarding The Hanover Insurance Group Inc. (NYSE:...

Old National Bancorp. (NYSE: ONB) reported higher-than-expected 1Q11 operating EPS of $0.19, “beating both our estimate and consensus,” KBW reports. “Results were driven by lower credit costs, improved expense control, and NIM expansion. The Monroe acquisition closed in January, which contributed...

KBW is raising its PT on shares of Metrocorp Bancshares Inc. (NASDAQ: MCBI) from $6.75 to $7.50. Metrocorp Bancshares closed Monday at $6.56.

Given declining volumes and margin, “we expect weak mortgage banking revenues in 1Q,” KBW reports. “Inside Mortgage Finance reported $12 billion of volume for PHH Corporation (NYSE: PHH), down from $18.4 million in 4Q10,” KBW writes. “Our forecast incorporates a 15% reduction in the gain-on-sale...

Citizens Republic Bancorp, Inc (NASDAQ: CRBC) reported a 1Q11 operating loss of $0.19/share, KBW reports. “Credit showed meaningful improvement again this quarter as the company largely wrapped up its accelerated disposition plan,” KBW writes. “NPAs, commercial watch list, and loans 30-89 days...