$477.75 Million in Sales Expected for People’s United Financial, Inc. (NASDAQ:PBCT) This Quarter

Wall Street brokerages forecast that People’s United Financial, Inc. (NASDAQ:PBCT) will announce $477.75 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for People’s United Financial’s earnings, with estimates ranging from $467.10 million to $488.40 million. People’s United Financial posted sales of $561.00 million in the same quarter last year, which suggests a negative year over year growth rate of 14.8%. The firm is scheduled to announce its next quarterly earnings report on Thursday, January 20th.

On average, analysts expect that People’s United Financial will report full year sales of $1.93 billion for the current financial year, with estimates ranging from $1.92 billion to $1.93 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.93 billion, with estimates ranging from $1.86 billion to $2.06 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow People’s United Financial.

People’s United Financial (NASDAQ:PBCT) last issued its quarterly earnings results on Thursday, October 21st. The bank reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). The company had revenue of $470.70 million during the quarter, compared to analyst estimates of $482.40 million. People’s United Financial had a net margin of 31.40% and a return on equity of 8.50%. During the same period in the prior year, the business earned $0.34 EPS.

A number of analysts recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of People’s United Financial from $17.15 to $18.00 and gave the company an “equal weight” rating in a report on Thursday, October 7th. TheStreet lowered shares of People’s United Financial from a “b” rating to a “c+” rating in a report on Thursday, October 21st. Zacks Investment Research lowered shares of People’s United Financial from a “buy” rating to a “hold” rating and set a $16.50 target price for the company. in a report on Tuesday, September 21st. Finally, Morgan Stanley lowered their target price on shares of People’s United Financial from $21.00 to $20.50 and set an “equal weight” rating for the company in a report on Monday, August 2nd. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $17.57.

Shares of People’s United Financial stock traded down $0.10 during midday trading on Friday, reaching $18.73. The company had a trading volume of 2,498,311 shares, compared to its average volume of 4,495,219. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $8.02 billion, a price-to-earnings ratio of 12.24 and a beta of 1.13. The stock has a fifty day simple moving average of $17.78 and a 200 day simple moving average of $17.33. People’s United Financial has a 1-year low of $12.36 and a 1-year high of $19.62.

The company also recently declared a quarterly dividend, which was paid on Monday, November 15th. Stockholders of record on Monday, November 1st were issued a $0.1825 dividend. This represents a $0.73 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend was Friday, October 29th. People’s United Financial’s dividend payout ratio (DPR) is 47.71%.

Hedge funds have recently made changes to their positions in the company. State of Wisconsin Investment Board lifted its position in People’s United Financial by 15.0% in the 2nd quarter. State of Wisconsin Investment Board now owns 61,675 shares of the bank’s stock valued at $1,057,000 after acquiring an additional 8,031 shares in the last quarter. Paragon Capital Management Ltd bought a new stake in People’s United Financial in the 2nd quarter valued at $179,000. Canada Pension Plan Investment Board bought a new stake in People’s United Financial in the 1st quarter valued at $1,681,000. Vident Investment Advisory LLC lifted its position in People’s United Financial by 24.9% in the 2nd quarter. Vident Investment Advisory LLC now owns 47,566 shares of the bank’s stock valued at $815,000 after acquiring an additional 9,489 shares in the last quarter. Finally, Natixis lifted its position in People’s United Financial by 2,333.5% in the 2nd quarter. Natixis now owns 2,290,334 shares of the bank’s stock valued at $39,256,000 after acquiring an additional 2,196,218 shares in the last quarter. 70.19% of the stock is owned by institutional investors.

People’s United Financial Company Profile

People’s United Financial, Inc is a bank and financial holding company, which engages in the commercial banking, retail and business banking, and wealth management services to individual, corporate, and municipal customers. It operates through the Commercial Banking and Retail Banking segments. The Commercial Banking segment offers commercial real estate lending, middle market and business banking, mortgage warehouse and asset-based lending, and the equipment financing operations.

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

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