First Niagara Financial Group Inc. FNFG operating results of $0.24/sh matched expectations this quarter “as stronger spread income and a slightly lower provision offset weaker fee income and higher expenses,” KBW reports.
“Earnings expectations remain on track versus our model, causing us to leave estimates unchanged,” KBW writes. “We maintain our $16 price target as we reiterate our Outperform rating on the shares.”
First Niagara Financial closed Thursday at $13.89.
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