People’s United Financial (PBCT) Upgraded to Equal Weight by Barclays

Barclays upgraded shares of People’s United Financial (NASDAQ:PBCT) from an underweight rating to an equal weight rating in a research note issued to investors on Thursday, MarketBeat reports. Barclays currently has $18.00 target price on the bank’s stock.

A number of other research analysts have also issued reports on the company. BidaskClub upgraded People’s United Financial from a sell rating to a hold rating in a report on Friday, January 4th. Wells Fargo & Co restated a hold rating on shares of People’s United Financial in a research note on Thursday, January 3rd. FIG Partners began coverage on People’s United Financial in a research note on Thursday, December 20th. They issued an outperform rating on the stock. Zacks Investment Research cut People’s United Financial from a buy rating to a hold rating in a research note on Tuesday, October 23rd. Finally, ValuEngine cut People’s United Financial from a hold rating to a sell rating in a research note on Tuesday, September 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The company has an average rating of Hold and a consensus price target of $19.93.

NASDAQ:PBCT traded up $0.08 during midday trading on Thursday, reaching $15.21. The company had a trading volume of 3,747,080 shares, compared to its average volume of 4,223,035. The firm has a market cap of $5.69 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 5.31 and a beta of 1.06. People’s United Financial has a 12-month low of $13.66 and a 12-month high of $20.26. 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 (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.33. The firm had revenue of $398.70 million during the quarter, compared to analyst estimates of $404.65 million. People’s United Financial had a return on equity of 7.94% and a net margin of 23.98%. During the same period last year, the business posted $0.26 earnings per share. Equities analysts forecast that People’s United Financial will post 1.29 EPS for the current year.

In other People’s United Financial news, VP David K. Norton sold 32,163 shares of the firm’s stock in a transaction on Wednesday, December 19th. The stock was sold at an average price of $14.89, for a total value of $478,907.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.50% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of People’s United Financial by 1.6% during the third quarter. Vanguard Group Inc. now owns 37,208,597 shares of the bank’s stock worth $637,012,000 after purchasing an additional 582,938 shares in the last quarter. Vanguard Group Inc increased its position in shares of People’s United Financial by 1.6% during the third quarter. Vanguard Group Inc now owns 37,208,597 shares of the bank’s stock worth $637,012,000 after purchasing an additional 582,938 shares in the last quarter. BlackRock Inc. increased its position in shares of People’s United Financial by 0.3% during the third quarter. BlackRock Inc. now owns 32,317,685 shares of the bank’s stock worth $553,280,000 after purchasing an additional 104,037 shares in the last quarter. Crawford Investment Counsel Inc. increased its position in shares of People’s United Financial by 2.7% during the third quarter. Crawford Investment Counsel Inc. now owns 3,375,377 shares of the bank’s stock worth $57,786,000 after purchasing an additional 87,863 shares in the last quarter. Finally, Alps Advisors Inc. increased its position in shares of People’s United Financial by 6.4% during the third quarter. Alps Advisors Inc. now owns 2,677,953 shares of the bank’s stock worth $45,847,000 after purchasing an additional 160,452 shares in the last quarter. Institutional investors and hedge funds own 73.52% of the company’s stock.

People’s United Financial Company Profile

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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Analyst Recommendations for People`s United Financial (NASDAQ:PBCT)

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