People’s United Financial (NASDAQ:PBCT) Lowered to Sell at ValuEngine

ValuEngine downgraded shares of People’s United Financial (NASDAQ:PBCT) from a hold rating to a sell rating in a research report sent to investors on Thursday, ValuEngine reports.

PBCT has been the subject of several other research reports. Wells Fargo & Co reiterated a hold rating on shares of People’s United Financial in a report on Monday, March 30th. Zacks Investment Research raised shares of People’s United Financial from a sell rating to a hold rating and set a $17.00 price target on the stock in a research report on Wednesday, January 8th. Morgan Stanley dropped their price objective on shares of People’s United Financial from $16.00 to $15.50 and set an equal weight rating on the stock in a research report on Tuesday, March 17th. DA Davidson lowered shares of People’s United Financial from a buy rating to a neutral rating and set a $17.50 price objective on the stock. in a research report on Friday, January 17th. Finally, BidaskClub downgraded shares of People’s United Financial from a hold rating to a sell rating in a research note on Thursday, March 26th. Two investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $16.30.

PBCT stock traded up $0.86 during trading on Thursday, hitting $10.37. 5,173,582 shares of the stock traded hands, compared to its average volume of 5,040,744. People’s United Financial has a one year low of $9.37 and a one year high of $17.66. The stock has a market cap of $4.12 billion, a price-to-earnings ratio of 8.17, a P/E/G ratio of 3.76 and a beta of 1.32. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.53. The company has a 50 day simple moving average of $13.62 and a 200 day simple moving average of $15.61.

People’s United Financial (NASDAQ:PBCT) last posted its quarterly earnings results on Thursday, January 16th. The bank reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.04. The business had revenue of $506.90 million during the quarter, compared to the consensus estimate of $487.75 million. People’s United Financial had a net margin of 22.51% and a return on equity of 8.16%. During the same period in the previous year, the firm posted $0.35 earnings per share. As a group, analysts predict that People’s United Financial will post 1.26 earnings per share for the current fiscal year.

In other People’s United Financial news, CFO R David Rosato acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average price of $22.54 per share, for a total transaction of $45,080.00. Following the acquisition, the chief financial officer now directly owns 2,000 shares in the company, valued at $45,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allred Capital Management LLC bought a new position in People’s United Financial in the 4th quarter valued at approximately $30,000. Sunbelt Securities Inc. bought a new position in People’s United Financial during the 4th quarter worth approximately $7,728,000. Atlas Private Wealth Management bought a new position in People’s United Financial during the 4th quarter worth approximately $36,000. Raab & Moskowitz Asset Management LLC bought a new position in People’s United Financial during the 4th quarter worth approximately $40,000. Finally, Carmichael Hill & Associates Inc. bought a new position in People’s United Financial during the 4th quarter worth approximately $48,000. Institutional investors and hedge funds own 76.02% 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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