People’s United Financial (NASDAQ:PBCT) Reaches New 12-Month High at $18.72

People’s United Financial, Inc. (NASDAQ:PBCT) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $18.72 and last traded at $18.43, with a volume of 358360 shares trading hands. The stock had previously closed at $18.02.

Several equities analysts recently issued reports on PBCT shares. Jefferies Financial Group upgraded shares of People’s United Financial from a “hold” rating to a “buy” rating and boosted their price target for the company from $14.00 to $16.00 in a research report on Thursday, January 7th. TheStreet upgraded shares of People’s United Financial from a “c+” rating to a “b-” rating in a research report on Wednesday, December 2nd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of People’s United Financial from $13.00 to $15.00 and gave the stock a “hold” rating in a report on Monday, January 25th. Zacks Investment Research upgraded shares of People’s United Financial from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a report on Friday, January 29th. Finally, Seaport Global Securities started coverage on shares of People’s United Financial in a report on Thursday, December 17th. They issued a “buy” rating and a $15.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. People’s United Financial presently has a consensus rating of “Hold” and a consensus target price of $14.03.

The company has a market cap of $7.82 billion, a P/E ratio of 15.53 and a beta of 1.26. The stock’s 50-day moving average is $14.45 and its two-hundred day moving average is $12.26. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.91 and a quick ratio of 0.91.

People’s United Financial (NASDAQ:PBCT) last released its quarterly earnings results on Wednesday, January 20th. The bank reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.03. People’s United Financial had a net margin of 21.57% and a return on equity of 7.30%. During the same period in the prior year, the firm earned $0.37 EPS. On average, analysts predict that People’s United Financial, Inc. will post 1.21 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, February 15th. Shareholders of record on Monday, February 1st were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, January 29th. This represents a $0.72 annualized dividend and a yield of 3.91%. People’s United Financial’s payout ratio is presently 51.80%.

In other People’s United Financial news, EVP Kirk W. Walters sold 25,000 shares of the stock in a transaction that occurred on Tuesday, January 19th. The shares were sold at an average price of $14.43, for a total value of $360,750.00. Following the transaction, the executive vice president now directly owns 52,525 shares in the company, valued at $757,935.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.20% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp grew its stake in shares of People’s United Financial by 6.0% in the 3rd quarter. State Street Corp now owns 53,714,005 shares of the bank’s stock worth $553,791,000 after buying an additional 3,062,042 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of People’s United Financial by 1,543.1% in the 4th quarter. Principal Financial Group Inc. now owns 15,306,207 shares of the bank’s stock worth $197,910,000 after acquiring an additional 14,374,649 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of People’s United Financial by 4.8% in the 4th quarter. Bank of New York Mellon Corp now owns 13,914,158 shares of the bank’s stock worth $179,910,000 after acquiring an additional 634,238 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of People’s United Financial by 14.1% in the 4th quarter. ProShare Advisors LLC now owns 9,071,479 shares of the bank’s stock worth $117,294,000 after acquiring an additional 1,122,255 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of People’s United Financial by 121.2% in the 3rd quarter. AQR Capital Management LLC now owns 8,014,826 shares of the bank’s stock worth $82,272,000 after acquiring an additional 4,391,343 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

People’s United Financial Company Profile (NASDAQ:PBCT)

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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