Piper Jaffray Companies set a $16.00 target price on People’s United Financial, Inc. (NASDAQ:PBCT) in a research report report published on Thursday morning. The firm currently has a sell rating on the bank’s stock.
A number of other research firms have also recently issued reports on PBCT. Zacks Investment Research raised 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 on shares of People’s United Financial in a research report on Monday, July 10th. Morgan Stanley reissued an equal weight rating and set a $17.75 price objective (up previously from $17.50) on shares of People’s United Financial in a research report on Friday, July 7th. Finally, BidaskClub raised People’s United Financial from a strong sell rating to a sell rating in a research report on Friday, June 30th. Three equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. People’s United Financial presently has a consensus rating of Hold and an average target price of $18.48.
People’s United Financial (NASDAQ:PBCT) remained flat at $16.63 during trading on Thursday. 2,014,243 shares of the company’s stock were exchanged. The company has a market cap of $5.61 billion, a PE ratio of 18.60 and a beta of 0.82. The firm has a 50-day moving average price of $17.50 and a 200-day moving average price of $17.84. People’s United Financial has a 12-month low of $15.28 and a 12-month high of $20.13.
People’s United Financial (NASDAQ:PBCT) last released its quarterly earnings data 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 firm had revenue of $366.50 million for the quarter, compared to analyst estimates of $357.16 million. People’s United Financial had a net margin of 18.88% and a return on equity of 6.14%. People’s United Financial’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 EPS. Equities research analysts predict that People’s United Financial will post $0.93 EPS for the current year.
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The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st were issued a dividend of $0.1725 per share. The ex-dividend date of this dividend was Friday, July 28th. This represents a $0.69 annualized dividend and a yield of 4.15%. People’s United Financial’s dividend payout ratio (DPR) is currently 77.53%.
In other People’s United Financial news, Director Jerry Franklin sold 4,520 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $16.72, for a total transaction of $75,574.40. Following the transaction, the director now directly owns 97,249 shares in the company, valued at $1,626,003.28. The transaction was disclosed in a filing with the SEC, which is available 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 value of $121,526.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 130,115 shares of company stock worth $2,226,820. Corporate insiders own 2.70% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Aberdeen Asset Management PLC UK raised its position in People’s United Financial by 2.9% in the first quarter. Aberdeen Asset Management PLC UK now owns 95,564 shares of the bank’s stock worth $1,740,000 after buying an additional 2,659 shares during the last quarter. Teachers Advisors LLC raised its position in People’s United Financial by 6.1% in the fourth quarter. Teachers Advisors LLC now owns 373,474 shares of the bank’s stock worth $7,230,000 after buying an additional 21,354 shares during the last quarter. KBC Group NV raised its position in People’s United Financial by 26.4% in the first quarter. KBC Group NV now owns 42,033 shares of the bank’s stock worth $765,000 after buying an additional 8,780 shares during the last quarter. World Asset Management Inc raised its position in People’s United Financial by 19.2% in the first quarter. World Asset Management Inc now owns 35,380 shares of the bank’s stock worth $644,000 after buying an additional 5,707 shares during the last quarter. Finally, Shell Asset Management Co. raised its position in People’s United Financial by 9.7% in the first quarter. Shell Asset Management Co. now owns 142,503 shares of the bank’s stock worth $2,594,000 after buying an additional 12,656 shares during the last quarter. Institutional investors and hedge funds own 75.03% 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.
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