AF EPS Beats Expectations "On Unexpected Margin Expansion And A Lower Provision," KBW Reports

Astoria Financial Corporation AF posted EPS of $0.29, “which beat expectations on unexpected margin expansion & a lower provision,” KBW reports. “Reserve release contributed $0.08 but was partly expected given better credit trends & loan shrinkage,” KBW writes. “A historically high margin, doubling of FDIC insurance costs & less credit leverage suggests AF is near peak earnings, in our view.” Astoria Financial Corporation closed Thursday at $14.37.