ST Germain D J Co. Inc. increased its stake in People’s United Financial, Inc. (NASDAQ:PBCT) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 191,866 shares of the bank’s stock after buying an additional 270 shares during the period. ST Germain D J Co. Inc. owned 0.06% of People’s United Financial worth $3,388,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of PBCT. CHURCHILL MANAGEMENT Corp increased its position in People’s United Financial by 3.1% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 1,189,630 shares of the bank’s stock valued at $21,651,000 after buying an additional 36,300 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its position in People’s United Financial by 13.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 299,799 shares of the bank’s stock valued at $5,457,000 after buying an additional 35,740 shares in the last quarter. Macquarie Group Ltd. increased its position in People’s United Financial by 25.6% in the fourth quarter. Macquarie Group Ltd. now owns 9,800 shares of the bank’s stock valued at $189,000 after buying an additional 2,000 shares in the last quarter. Highbridge Capital Management LLC bought a new position in People’s United Financial during the fourth quarter valued at approximately $584,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in People’s United Financial during the fourth quarter valued at approximately $195,000. 76.12% of the stock is currently owned by institutional investors.
Shares of People’s United Financial, Inc. (NASDAQ PBCT) opened at 17.36 on Friday. The company has a market capitalization of $5.86 billion, a PE ratio of 19.38 and a beta of 0.82. People’s United Financial, Inc. has a 12-month low of $14.79 and a 12-month high of $20.13. The stock has a 50 day moving average of $17.64 and a 200-day moving average of $18.04.
People’s United Financial (NASDAQ:PBCT) last released its earnings results on Thursday, July 20th. The bank reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.04. People’s United Financial had a return on equity of 6.14% and a net margin of 18.88%. The firm had revenue of $366.50 million for the quarter, compared to analysts’ expectations of $357.16 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. Analysts predict that People’s United Financial, Inc. will post $0.92 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be paid a dividend of $0.1725 per share. The ex-dividend date of this dividend is Friday, July 28th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.97%. People’s United Financial’s payout ratio is 77.53%.
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Several brokerages have issued reports on PBCT. Zacks Investment Research upgraded shares of People’s United Financial from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $19.00 target price on shares of People’s United Financial in a report on Thursday, April 6th. Morgan Stanley reiterated an “equal weight” rating and set a $17.75 target price (up from $17.50) on shares of People’s United Financial in a report on Friday, July 7th. Finally, BidaskClub upgraded shares of People’s United Financial from a “strong sell” rating to a “sell” rating in a report on Friday, June 30th. Three investment analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $18.25.
In related news, VP Robert E. Trautmann sold 118,836 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $17.08, for a total transaction of $2,029,718.88. Following the sale, the vice president now directly owns 70,323 shares in the company, valued at $1,201,116.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey Hoyt sold 6,759 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $17.98, for a total transaction of $121,526.82. The disclosure for this sale can be found here. Insiders have sold 130,115 shares of company stock worth $2,226,820 over the last 90 days. Insiders own 2.70% of the company’s stock.
People’s United Financial Company Profile
People’s United Financial, Inc is a bank holding company and a financial holding company of People’s United Bank (the Bank). The Bank is engaged in providing commercial banking, retail banking and wealth management services to individual, corporate and municipal customers. The Company operates through two segments: Commercial Banking and Retail Banking.
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