Jefferies Group LLC reaffirmed their hold rating on shares of People’s United Financial, Inc. (NASDAQ:PBCT) in a research report sent to investors on Friday. Jefferies Group LLC currently has a $19.00 target price on the bank’s stock.
PBCT has been the topic of a number of other research reports. Keefe, Bruyette & Woods restated a hold rating on shares of People’s United Financial in a report on Monday, July 10th. Zacks Investment Research lowered shares of People’s United Financial from a hold rating to a sell rating in a report on Tuesday, June 20th. BidaskClub upgraded shares of People’s United Financial from a strong sell rating to a sell rating in a report on Saturday, June 10th. Morgan Stanley restated 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 report on Friday, July 7th. Finally, Piper Jaffray Companies set a $16.00 price target on shares of People’s United Financial and gave the company a sell rating in a report on Thursday. Three analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. The stock has an average rating of Hold and a consensus target price of $18.48.
Shares of People’s United Financial (PBCT) remained flat at $16.63 during mid-day trading on Friday. The company had a trading volume of 2,014,243 shares. People’s United Financial has a 12 month low of $15.28 and a 12 month high of $20.13. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of 18.60 and a beta of 0.82. The firm has a 50 day moving average of $17.50 and a 200 day moving average of $17.84.
People’s United Financial (NASDAQ:PBCT) last released its quarterly earnings results on Thursday, July 20th. The bank reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.04. People’s United Financial had a net margin of 18.88% and a return on equity of 6.14%. The firm had revenue of $366.50 million for the quarter, compared to analyst estimates of $357.16 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. Equities analysts predict that People’s United Financial will post $0.93 EPS for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st were given a $0.1725 dividend. This represents a $0.69 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend was Friday, July 28th. People’s United Financial’s dividend payout ratio is 77.53%.
In other People’s United Financial news, Director Jerry Franklin sold 4,520 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $16.72, for a total value of $75,574.40. Following the completion of the sale, the director now directly owns 97,249 shares of the company’s stock, valued at $1,626,003.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey Hoyt sold 6,759 shares of the business’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 sold 130,115 shares of company stock valued at $2,226,820 over the last three months. Insiders own 2.70% of the company’s stock.
A number of hedge funds have recently bought and sold shares of PBCT. Benedict Financial Advisors Inc. increased its stake in People’s United Financial by 0.3% in the second quarter. Benedict Financial Advisors Inc. now owns 15,537 shares of the bank’s stock valued at $272,000 after buying an additional 47 shares in the last quarter. Federated Investors Inc. PA increased its stake in People’s United Financial by 0.8% in the second quarter. Federated Investors Inc. PA now owns 9,678 shares of the bank’s stock valued at $171,000 after buying an additional 80 shares in the last quarter. ING Groep NV increased its stake in People’s United Financial by 0.5% in the second quarter. ING Groep NV now owns 17,637 shares of the bank’s stock valued at $311,000 after buying an additional 94 shares in the last quarter. Contravisory Investment Management Inc. increased its stake in People’s United Financial by 0.8% in the second quarter. Contravisory Investment Management Inc. now owns 13,274 shares of the bank’s stock valued at $234,000 after buying an additional 104 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in People’s United Financial by 0.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,583 shares of the bank’s stock valued at $452,000 after buying an additional 104 shares in the last quarter. 75.03% of the stock is owned by institutional investors.
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.
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