The People’s United Financial Inc. (PBCT) Releases Earnings Results, Meets Expectations

The People’s United Financial Inc. (PBCT) Releases  Earnings Results, Meets Expectations

People’s United Financial Inc. (NASDAQ:PBCT) released its quarterly earnings data on Thursday. The company reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates 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 period in the prior year, the firm earned $0.22 earnings per share.

Shares of People’s United Financial (NASDAQ:PBCT) traded down 0.83% on Thursday, reaching $19.13. The company had a trading volume of 3,833,302 shares. People’s United Financial has a 12 month low of $13.62 and a 12 month high of $20.13. The stock has a market cap of $5.82 billion, a PE ratio of 21.02 and a beta of 0.80. The stock has a 50-day moving average price of $19.35 and a 200-day moving average price of $16.83.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Wednesday, February 1st will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.55%. People’s United Financial’s dividend payout ratio (DPR) is presently 74.73%.

In other 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 value of $161,200.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John P. Barnes sold 136,809 shares of the business’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $17.48, for a total value of $2,391,421.32. The disclosure for this sale can be found here. Insiders have sold a total of 1,769,038 shares of company stock worth $32,897,275 over the last ninety days. Company insiders own 2.90% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp increased its position in shares of People’s United Financial by 3.4% in the second quarter. State Street Corp now owns 37,136,980 shares of the company’s stock worth $544,426,000 after buying an additional 1,218,159 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new position in shares of People’s United Financial during the second quarter worth about $7,718,000. Bessemer Group Inc. increased its position in shares of People’s United Financial by 32.4% in the second quarter. Bessemer Group Inc. now owns 1,997,622 shares of the company’s stock worth $29,285,000 after buying an additional 489,335 shares in the last quarter. Credit Suisse AG increased its position in shares of People’s United Financial by 32.6% in the second quarter. Credit Suisse AG now owns 1,511,627 shares of the company’s stock worth $22,160,000 after buying an additional 371,977 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its position in shares of People’s United Financial by 125.7% in the second quarter. Panagora Asset Management Inc. now owns 649,873 shares of the company’s stock worth $9,527,000 after buying an additional 361,930 shares in the last quarter. 79.75% of the stock is currently owned by institutional investors.

Several equities research analysts have issued reports on the company. Piper Jaffray Cos. downgraded People’s United Financial from a “neutral” rating to an “underweight” rating and set a $14.50 price target for the company. in a report on Wednesday, November 16th. Stephens assumed coverage on People’s United Financial in a report on Wednesday, December 21st. They issued an “equal weight” rating for the company. Zacks Investment Research downgraded People’s United Financial from a “buy” rating to a “hold” rating in a report on Friday, January 6th. Wells Fargo & Co. assumed coverage on People’s United Financial in a report on Friday, January 6th. They issued a “market perform” rating for the company. Finally, Sandler O’Neill downgraded People’s United Financial from a “hold” rating to a “sell” rating in a report on Friday, December 2nd. Four analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. People’s United Financial has a consensus rating of “Hold” and a consensus 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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