Lower Provision Helped ABBC Beat Expectations

Analysts at Keefe Bruyette reiterate their "outperform" rating on Abington Bancorp, Inc ABBC, while raising their estimates for the company. The target price for ABBC is set to $12. Abington Bancorp reported its earnings for the quarter ahead of the estimates by $0.04 and the consensus by $0.02. According to Keefe Bruyette, “The quarterly beat was almost entirely attributable to a lower provision as the bank did not book a provision for the quarter. Keefe Bruyette has raised its EPS estimates for 2010 and 2011 from $0.26 to $0.31 and from $0.30 to $0.32. More Analyst Ratings here.