Shares of People's United Financial, Inc. (NASDAQ:PBCT) have been given a consensus recommendation of “Hold” by the ten brokerages that are covering the company. Two research analysts have rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $18.07.
PBCT has been the topic of several research reports. JPMorgan Chase & Co. initiated coverage on shares of People's United Financial in a report on Thursday, January 5th. They set a “neutral” rating and a $20.50 price objective on the stock. Barclays PLC lifted their price objective on shares of People's United Financial from $17.00 to $18.00 and gave the company an “underweight” rating in a report on Friday, January 20th. Zacks Investment Research lowered shares of People's United Financial from a “buy” rating to a “hold” rating in a report on Friday, April 7th. Stephens initiated coverage on shares of People's United Financial in a report on Wednesday, December 21st. They set an “equal weight” rating on the stock. Finally, Sandler O’Neill raised shares of People's United Financial from a “sell” rating to a “hold” rating and lifted their price objective for the company from $17.00 to $19.50 in a report on Friday, March 10th.
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In other People's United Financial news, insider Galan G. Daukas sold 9,143 shares of People's United Financial stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $19.21, for a total value of $175,637.03. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Richard M. Hoyt sold 100,000 shares of People's United Financial stock in a transaction on Tuesday, January 24th. The stock was sold at an average price of $18.89, for a total transaction of $1,889,000.00. Following the completion of the transaction, the director now directly owns 62,882 shares in the company, valued at $1,187,840.98. The disclosure for this sale can be found here. Insiders sold 292,768 shares of company stock worth $5,590,175 over the last ninety days. Corporate insiders own 2.90% of the company’s stock.
Several large investors have recently made changes to their positions in PBCT. FineMark National Bank & Trust raised its stake in shares of People's United Financial by 226.0% in the third quarter. FineMark National Bank & Trust now owns 7,357 shares of the bank’s stock worth $116,000 after buying an additional 5,100 shares during the period. Public Employees Retirement Association of Colorado raised its stake in shares of People's United Financial by 0.4% in the third quarter. Public Employees Retirement Association of Colorado now owns 9,965 shares of the bank’s stock worth $158,000 after buying an additional 41 shares during the period. SRB Corp raised its stake in shares of People's United Financial by 6.0% in the third quarter. SRB Corp now owns 9,993 shares of the bank’s stock worth $158,000 after buying an additional 563 shares during the period. Catalyst Capital Advisors LLC bought a new stake in shares of People's United Financial during the third quarter worth $161,000. Finally, Federated Investors Inc. PA bought a new stake in shares of People's United Financial during the fourth quarter worth $184,000. 80.80% of the stock is currently owned by hedge funds and other institutional investors.
People's United Financial (NASDAQ:PBCT) traded up 0.17% on Monday, hitting $17.57. The company’s stock had a trading volume of 5,805,451 shares. People's United Financial has a 12 month low of $13.80 and a 12 month high of $20.13. The firm has a 50 day moving average of $18.32 and a 200 day moving average of $18.24. The firm has a market cap of $5.43 billion, a price-to-earnings ratio of 19.14 and a beta of 0.83.
People's United Financial (NASDAQ:PBCT) last issued its quarterly earnings data on Thursday, April 20th. The bank reported $0.22 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.22. The company had revenue of $342.80 million for the quarter, compared to analyst estimates of $336.29 million. People's United Financial had a net margin of 19.12% and a return on equity of 5.86%. People's United Financial’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company posted $0.21 earnings per share. Equities research analysts forecast that People's United Financial will post $0.95 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Monday, May 1st will be issued a $0.1725 dividend. This is a positive change from People's United Financial’s previous quarterly dividend of $0.17. This represents a $0.69 annualized dividend and a yield of 3.93%. The ex-dividend date is Thursday, April 27th. People's United Financial’s payout ratio is currently 73.91%.
About People's United Financial
People’s United Financial, Inc is a bank holding company and a financial holding company of People’s United Bank (the Bank). The Bank is engaged in providing commercial banking, retail banking and wealth management services to individual, corporate and municipal customers. The Company operates through two segments: Commercial Banking and Retail Banking.
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