Shell Asset Management Co. Buys 11,126 Shares of People’s United Financial, Inc. (PBCT)

Shell Asset Management Co. increased its stake in People’s United Financial, Inc. (NASDAQ:PBCT) by 61.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,181 shares of the bank’s stock after purchasing an additional 11,126 shares during the period. Shell Asset Management Co.’s holdings in People’s United Financial were worth $500,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Credit Suisse AG raised its stake in People’s United Financial by 48.0% during the 3rd quarter. Credit Suisse AG now owns 966,883 shares of the bank’s stock valued at $16,553,000 after acquiring an additional 313,399 shares in the last quarter. Crawford Investment Counsel Inc. raised its stake in People’s United Financial by 2.7% during the 3rd quarter. Crawford Investment Counsel Inc. now owns 3,375,377 shares of the bank’s stock valued at $57,786,000 after acquiring an additional 87,863 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in People’s United Financial by 48.3% during the 3rd 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 raised its stake in People’s United Financial by 37.4% during the 3rd 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. Finally, Ontario Teachers Pension Plan Board bought a new stake in People’s United Financial during the 3rd quarter valued at $1,461,000. 73.67% of the stock is currently owned by institutional investors and hedge funds.

PBCT opened at $16.14 on Friday. People’s United Financial, Inc. has a one year low of $15.04 and a one year high of $20.26. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $6.14 billion, a PE ratio of 12.92, a PEG ratio of 6.32 and a beta of 0.96.

People’s United Financial (NASDAQ:PBCT) last posted its quarterly earnings data on Thursday, October 18th. The bank reported $0.33 EPS for the quarter, hitting the Zacks’ 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 company had revenue of $398.70 million for the quarter, compared to the consensus estimate of $404.65 million. During the same quarter in the previous year, the business earned $0.26 EPS. On average, research analysts forecast that People’s United Financial, Inc. will post 1.29 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st were paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend was Wednesday, October 31st. People’s United Financial’s dividend payout ratio is presently 67.31%.

Several analysts have weighed in on the company. BidaskClub raised People’s United Financial from a “strong sell” rating to a “sell” rating in a research note on Friday, September 7th. Zacks Investment Research raised People’s United Financial from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Monday, September 24th. ValuEngine downgraded People’s United Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, September 18th. Finally, Wells Fargo & Co set a $18.00 price objective on People’s United Financial and gave the stock a “hold” rating in a research note on Tuesday, October 2nd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $20.21.

In other news, VP Lee C. Powlus sold 48,200 shares of the business’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $17.97, for a total value of $866,154.00. Following the sale, the vice president now owns 146,050 shares of the company’s stock, valued at approximately $2,624,518.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.50% of the stock is currently owned by 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.

Further Reading: Average Daily Trade Volume Explained

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

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