People’s United Financial, Inc. (PBCT) Position Lifted by Crawford Investment Counsel Inc.

Crawford Investment Counsel Inc. increased its holdings in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 2.7% during the third quarter, HoldingsChannel.com reports. The fund owned 3,375,377 shares of the bank’s stock after buying an additional 87,863 shares during the period. People’s United Financial comprises approximately 1.8% of Crawford Investment Counsel Inc.’s investment portfolio, making the stock its 21st biggest holding. Crawford Investment Counsel Inc.’s holdings in People’s United Financial were worth $57,786,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PBCT. DekaBank Deutsche Girozentrale lifted its position in shares of People’s United Financial by 48.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 63,489 shares of the bank’s stock valued at $1,205,000 after acquiring an additional 20,688 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of People’s United Financial by 37.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 707,334 shares of the bank’s stock valued at $12,110,000 after acquiring an additional 192,670 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in shares of People’s United Financial in the third quarter valued at $1,461,000. CIBC World Markets Inc. lifted its position in shares of People’s United Financial by 118.6% in the third quarter. CIBC World Markets Inc. now owns 85,590 shares of the bank’s stock valued at $1,465,000 after acquiring an additional 46,437 shares in the last quarter. Finally, FMR LLC lifted its position in shares of People’s United Financial by 3.7% in the third quarter. FMR LLC now owns 111,180 shares of the bank’s stock valued at $1,903,000 after acquiring an additional 4,018 shares in the last quarter. 72.35% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have recently issued reports on PBCT shares. Zacks Investment Research upgraded People’s United Financial from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research report on Monday, August 6th. Wells Fargo & Co set a $18.00 price objective on People’s United Financial and gave the company a “hold” rating in a research report on Tuesday, October 2nd. ValuEngine downgraded People’s United Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, September 18th. Finally, BidaskClub upgraded People’s United Financial from a “strong sell” rating to a “sell” rating in a research report on Friday, September 7th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. People’s United Financial has a consensus rating of “Hold” and a consensus target price of $20.21.

NASDAQ PBCT opened at $15.87 on Friday. People’s United Financial, Inc. has a twelve month low of $15.04 and a twelve month high of $20.26. The stock has a market cap of $5.99 billion, a P/E ratio of 15.26, a price-to-earnings-growth ratio of 6.16 and a beta of 0.96. 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 (NASDAQ:PBCT) last released its earnings results on Thursday, October 18th. The bank reported $0.33 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate 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 the consensus estimate of $404.65 million. During the same period in the prior year, the business posted $0.26 earnings per share. On average, equities analysts anticipate that People’s United Financial, Inc. will post 1.29 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Thursday, November 1st were given a dividend of $0.175 per share. The ex-dividend date was Wednesday, October 31st. This represents a $0.70 annualized dividend and a yield of 4.41%. People’s United Financial’s dividend payout ratio (DPR) is presently 67.31%.

In related news, insider Mark F. Herron sold 10,976 shares of the stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $18.65, for a total transaction of $204,702.40. Following the transaction, the insider now directly owns 31,242 shares in the company, valued at $582,663.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director George P. Carter sold 10,874 shares of the 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 owns 13,758 shares in the company, valued at $257,274.60. The disclosure for this sale can be found here. Insiders have sold 70,050 shares of company stock worth $1,274,200 over the last quarter. 2.50% of the stock is currently owned by company insiders.

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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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Want to see what other hedge funds are holding PBCT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for People’s United Financial, Inc. (NASDAQ:PBCT).

Institutional Ownership by Quarter for People`s United Financial (NASDAQ:PBCT)

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