Analysts Anticipate People’s United Financial, Inc. (PBCT) Will Post Earnings of $0.34 Per Share

Equities research analysts expect that People’s United Financial, Inc. (NASDAQ:PBCT) will post $0.34 earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for People’s United Financial’s earnings, with estimates ranging from $0.33 to $0.35. People’s United Financial posted earnings per share of $0.30 in the same quarter last year, which would suggest a positive year-over-year growth rate of 13.3%. The company is scheduled to announce its next quarterly earnings report on Thursday, January 17th.

On average, analysts expect that People’s United Financial will report full year earnings of $1.29 per share for the current fiscal year, with EPS estimates ranging from $1.28 to $1.30. For the next year, analysts expect that the firm will post earnings of $1.43 per share, with EPS estimates ranging from $1.36 to $1.50. Zacks’ earnings per share averages are an average based on a survey of research firms that follow People’s United Financial.

People’s United Financial (NASDAQ:PBCT) last issued its quarterly earnings results on Thursday, October 18th. The bank reported $0.33 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.33. People’s United Financial had a return on equity of 7.94% and a net margin of 23.98%. The firm had revenue of $398.70 million for the quarter, compared to analyst estimates of $404.65 million. During the same period last year, the company earned $0.26 EPS.

PBCT has been the topic of a number of research analyst reports. Morgan Stanley raised their price target on People’s United Financial from $20.50 to $21.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 24th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $21.50 price target on shares of People’s United Financial in a research note on Monday, July 23rd. Zacks Investment Research lowered People’s United Financial from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. BidaskClub lowered People’s United Financial from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 19th. Finally, ValuEngine lowered People’s United Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, September 18th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $20.21.

NASDAQ:PBCT traded down $0.11 during mid-day trading on Friday, reaching $15.74. The company’s stock had a trading volume of 134,384 shares, compared to its average volume of 4,479,629. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.57. People’s United Financial has a twelve month low of $15.04 and a twelve month high of $20.26. The firm has a market cap of $5.50 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 6.11 and a beta of 0.96.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be paid a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 4.45%. The ex-dividend date of this dividend is Wednesday, October 31st. People’s United Financial’s dividend payout ratio is currently 67.31%.

In other news, Director George P. Carter sold 10,874 shares of People’s United Financial stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $18.70, for a total value of $203,343.80. Following the transaction, the director now directly owns 13,758 shares of the company’s stock, valued at approximately $257,274.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Lee C. Powlus sold 48,200 shares of People’s United Financial stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $17.97, for a total value of $866,154.00. Following the completion of the transaction, the vice president now directly owns 146,050 shares in the company, valued at $2,624,518.50. The disclosure for this sale can be found here. Insiders sold a total of 70,050 shares of company stock worth $1,274,200 over the last ninety days. Corporate insiders own 2.50% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FineMark National Bank & Trust acquired a new position in shares of People’s United Financial in the 2nd quarter valued at about $150,000. Citizens Financial Group Inc RI purchased a new stake in shares of People’s United Financial during the 3rd quarter valued at about $159,000. Argent Trust Co purchased a new stake in shares of People’s United Financial during the 2nd quarter valued at about $182,000. GHP Investment Advisors Inc. purchased a new stake in shares of People’s United Financial during the 3rd quarter valued at about $173,000. Finally, Warren Averett Asset Management LLC purchased a new stake in shares of People’s United Financial during the 3rd quarter valued at about $179,000. 78.32% of the stock is currently owned by institutional investors and hedge funds.

About People’s United Financial

People's United Financial, Inc operates as the bank holding company for People's United Bank, National Association that provides commercial banking, retail banking, and wealth management services to individual, corporate, and municipal customers. The company operates in two segments, Commercial Banking and Retail Banking.

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Earnings History and Estimates for People`s United Financial (NASDAQ:PBCT)

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