TFS Financial (NASDAQ:TFSL) had their earnings per share lowered on them for 2011 by FBR Capital, as valuations will remain low, although after the MOU is removed, that is expected to change.
FBR said, "We reiterate our rating and lower our price target to $9.50 due to lower valuations on recent second-step transactions...We expect valuation to improve once the MOU is lifted. We are lowering our FY11 EPS estimate to $0.05 from $0.12 and establishing our FY12 estimate of $0.12."
FBR did reiterate their "Outperform" rating on TFS, which closed Tuesday at $8.01, falling $0.10, or 1.23 percent. FBR has a price target of $9.50 on the company, slashing it from $13.
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