Jefferies Financial Group Weighs in on People’s United Financial, Inc.’s FY2018 Earnings (PBCT)

People’s United Financial, Inc. (NASDAQ:PBCT) – Analysts at Jefferies Financial Group boosted their FY2018 earnings estimates for shares of People’s United Financial in a research report issued on Tuesday, January 8th. Jefferies Financial Group analyst C. Haire now anticipates that the bank will post earnings per share of $1.31 for the year, up from their prior estimate of $1.30. Jefferies Financial Group also issued estimates for People’s United Financial’s Q4 2018 earnings at $0.36 EPS, Q1 2019 earnings at $0.35 EPS, Q2 2019 earnings at $0.37 EPS, Q3 2019 earnings at $0.38 EPS, Q4 2019 earnings at $0.38 EPS, FY2019 earnings at $1.48 EPS and FY2020 earnings at $1.50 EPS.

A number of other research firms have also recently issued reports on PBCT. Zacks Investment Research raised shares of People’s United Financial from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Monday, September 24th. BidaskClub cut shares of People’s United Financial from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 19th. ValuEngine cut shares of People’s United Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, September 18th. Wells Fargo & Co set a $18.00 price target on shares of People’s United Financial and gave the company a “hold” rating in a research note on Tuesday, October 2nd. Finally, Barclays raised shares of People’s United Financial from an “underweight” rating to an “equal weight” rating and set a $18.00 price target on the stock in a research note on Thursday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $19.93.

People’s United Financial stock opened at $15.21 on Thursday. People’s United Financial has a 1 year low of $13.66 and a 1 year high of $20.26. The firm has a market capitalization of $5.69 billion, a P/E ratio of 14.63, a P/E/G ratio of 5.31 and a beta of 1.06. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.95 and a current ratio of 0.95.

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

Several hedge funds and other institutional investors have recently bought and sold shares of the company. AXA raised its holdings in People’s United Financial by 1,004.4% in the 3rd quarter. AXA now owns 650,278 shares of the bank’s stock valued at $11,133,000 after buying an additional 591,400 shares during the period. Vanguard Group Inc raised its holdings in People’s United Financial by 1.6% in the 3rd quarter. Vanguard Group Inc now owns 37,208,597 shares of the bank’s stock valued at $637,012,000 after buying an additional 582,938 shares during the period. Vanguard Group Inc. grew its position in People’s United Financial by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 37,208,597 shares of the bank’s stock valued at $637,012,000 after acquiring an additional 582,938 shares in the last quarter. JPMorgan Chase & Co. grew its position in People’s United Financial by 63.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,405,128 shares of the bank’s stock valued at $24,055,000 after acquiring an additional 544,832 shares in the last quarter. Finally, Morgan Stanley grew its position in shares of People’s United Financial by 22.9% during the third quarter. Morgan Stanley now owns 2,494,820 shares of the bank’s stock worth $42,711,000 after buying an additional 464,448 shares in the last quarter. Institutional investors and hedge funds own 73.52% of the company’s stock.

In related news, VP David K. Norton sold 32,163 shares of People’s United Financial stock in a transaction on Wednesday, December 19th. The shares were 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 is available at this link. 2.50% of the stock is currently owned by company insiders.

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

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