The People’s United Financial Inc. (PBCT) Announces $0.17 Quarterly Dividend

The People’s United Financial Inc. (PBCT) Announces $0.17 Quarterly Dividend

People’s United Financial Inc. (NASDAQ:PBCT) declared a quarterly dividend on Thursday, January 19th. Investors of record on Wednesday, February 1st will be given a dividend of 0.17 per share on Wednesday, February 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.55%.

People’s United Financial (NASDAQ:PBCT) traded down 0.83% on Thursday, hitting $19.13. The company had a trading volume of 3,833,302 shares. People’s United Financial has a one year low of $13.62 and a one year high of $20.13. The stock has a market capitalization of $5.82 billion, a PE ratio of 21.02 and a beta of 0.80. The stock has a 50 day moving average of $19.35 and a 200-day moving average of $16.83.

People’s United Financial (NASDAQ:PBCT) last issued its quarterly earnings results on Thursday, January 19th. The company reported $0.24 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.24. People’s United Financial had a return on equity of 5.71% and a net margin of 19.26%. During the same quarter last year, the company earned $0.22 EPS. Equities analysts anticipate that People’s United Financial will post $0.91 EPS for the current year.

In related news, VP Robert E. Trautmann sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $16.12, for a total transaction of $161,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffrey J. Tengel sold 195,883 shares of the business’s stock in a transaction dated Thursday, December 8th. The stock was sold at an average price of $20.04, for a total value of $3,925,495.32. Following the transaction, the insider now owns 192,002 shares of the company’s stock, valued at $3,847,720.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,769,038 shares of company stock valued at $32,897,275. 2.90% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the company. Profund Advisors LLC acquired a new position in People’s United Financial during the second quarter valued at approximately $149,000. Gerstein Fisher purchased a new stake in shares of People’s United Financial during the third quarter valued at about $170,000. Camelot Portfolios LLC raised its stake in shares of People’s United Financial by 1.0% in the second quarter. Camelot Portfolios LLC now owns 11,154 shares of the company’s stock valued at $164,000 after buying an additional 111 shares during the period. Winton Capital Group Ltd purchased a new stake in shares of People’s United Financial during the second quarter valued at about $166,000. Finally, RiverPoint Capital Management LLC purchased a new stake in shares of People’s United Financial during the second quarter valued at about $174,000. Institutional investors and hedge funds own 79.75% of the company’s stock.

Several analysts have issued reports on PBCT shares. Deutsche Bank AG boosted their target price on People’s United Financial from $14.00 to $15.00 and gave the company a “hold” rating in a research note on Tuesday, October 11th. Sandler O’Neill lowered People’s United Financial from a “hold” rating to a “sell” rating in a research note on Friday, December 2nd. Piper Jaffray Cos. lowered People’s United Financial from a “neutral” rating to an “underweight” rating and set a $14.50 target price on the stock. in a research note on Wednesday, November 16th. Zacks Investment Research upgraded People’s United Financial from a “sell” rating to a “hold” rating in a research note on Thursday, October 13th. Finally, JPMorgan Chase & Co. started coverage on People’s United Financial in a research note on Thursday, January 5th. They issued a “neutral” rating and a $20.50 target price on the stock. Four investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. The company has a consensus rating of “Hold” and an average price target of $16.36.

About People’s United Financial

People’s United Financial, Inc (People’s United) is the bank holding company for People’s United Bank, National Association (the Bank). The principal business of the Company is to provide, through the Bank and its subsidiaries, commercial banking, retail banking and wealth management services to individual, corporate and municipal customers.

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