KBW Maintains Market Perform on Hudson City Bancorp

KBW is out with its report today on Hudson City Bancorp HCBK, maintaining Market Perform. In a note to clients, KBW writes, "Hudson City posted operating EPS of $0.19 as a result of a stronger than expected margin due to the restructuring completed in March. The company has made the strategic decision to expand into Northeast Massachusetts as net loan growth remains under pressure (-3% annualized). Credit improved and remains very manageable relative to its preprovision earnings cushion." At the time of posting, shares of HCBK were trading at $8.19, down 1.68% from Thursday's close.