People’s United Financial, Inc. (NASDAQ:PBCT) Stock Rating Lowered by BidaskClub

BidaskClub cut shares of People’s United Financial, Inc. (NASDAQ:PBCT) from a sell rating to a strong sell rating in a report published on Monday, July 24th.

PBCT has been the subject of a number of other research reports. Zacks Investment Research raised shares of People’s United Financial from a sell rating to a hold rating in a research report on Tuesday, July 4th. Keefe, Bruyette & Woods reissued a hold rating and issued a $19.00 price objective on shares of People’s United Financial in a research report on Friday, June 9th. Finally, Morgan Stanley reaffirmed an equal weight rating and set a $17.75 price target (up previously from $17.50) on shares of People’s United Financial in a research report on Friday, July 7th. Three research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. People’s United Financial currently has an average rating of Hold and a consensus target price of $18.25.

People’s United Financial (NASDAQ PBCT) traded down 1.00% on Monday, reaching $16.82. The company’s stock had a trading volume of 2,141,515 shares. The firm has a 50-day moving average of $17.57 and a 200-day moving average of $17.91. People’s United Financial has a one year low of $15.28 and a one year high of $20.13. The company has a market capitalization of $5.68 billion, a PE ratio of 18.81 and a beta of 0.82.

People’s United Financial (NASDAQ:PBCT) last announced its earnings results on Thursday, July 20th. The bank reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by $0.04. The business had revenue of $366.50 million for the quarter, compared to analyst estimates of $357.16 million. People’s United Financial had a return on equity of 6.14% and a net margin of 18.88%. The business’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 EPS. Analysts predict that People’s United Financial will post $0.93 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This piece of content was originally published by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this piece of content on another publication, it was copied illegally and reposted in violation of US and international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://stocknewstimes.com/2017/08/12/peoples-united-financial-inc-nasdaqpbct-lowered-to-strong-sell-at-bidaskclub-updated-updated.html.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be issued a $0.1725 dividend. The ex-dividend date is Friday, July 28th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.10%. People’s United Financial’s dividend payout ratio (DPR) is presently 77.53%.

In other People’s United Financial news, VP Robert E. Trautmann sold 118,836 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now owns 70,323 shares of the company’s stock, valued at approximately $1,201,116.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jeffrey Hoyt sold 6,759 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The shares were 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. In the last ninety days, insiders sold 130,115 shares of company stock worth $2,226,820. Corporate insiders own 2.70% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of People’s United Financial by 5.9% in the second quarter. Vanguard Group Inc. now owns 34,847,557 shares of the bank’s stock valued at $615,409,000 after buying an additional 1,945,556 shares during the last quarter. BlackRock Inc. raised its stake in People’s United Financial by 2,026.9% in the first quarter. BlackRock Inc. now owns 26,740,727 shares of the bank’s stock worth $486,681,000 after buying an additional 25,483,451 shares during the period. Wells Fargo & Company MN raised its stake in People’s United Financial by 3.8% in the second quarter. Wells Fargo & Company MN now owns 18,292,829 shares of the bank’s stock worth $323,050,000 after buying an additional 668,225 shares during the period. Dimensional Fund Advisors LP raised its stake in People’s United Financial by 11.1% in the second quarter. Dimensional Fund Advisors LP now owns 9,215,243 shares of the bank’s stock worth $162,743,000 after buying an additional 923,949 shares during the period. Finally, Epoch Investment Partners Inc. raised its stake in People’s United Financial by 2.3% in the second quarter. Epoch Investment Partners Inc. now owns 7,853,746 shares of the bank’s stock worth $138,697,000 after buying an additional 178,440 shares during the period. Institutional investors own 75.94% of the company’s stock.

About People’s United Financial

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.

Analyst Recommendations for People`s United Financial (NASDAQ:PBCT)

Receive News & Ratings for People's United Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for People's United Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply