Insider Selling: People’s United Financial, Inc. (NASDAQ:PBCT) CEO Sells 299,309 Shares of Stock

People’s United Financial, Inc. (NASDAQ:PBCT) CEO John P. Barnes sold 299,309 shares of People’s United Financial stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $18.88, for a total value of $5,650,953.92. Following the completion of the transaction, the chief executive officer now owns 383,140 shares in the company, valued at approximately $7,233,683.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of People’s United Financial, Inc. (NASDAQ:PBCT) traded down $0.05 during trading on Friday, reaching $17.71. The company had a trading volume of 2,067,600 shares, compared to its average volume of 2,937,846. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.98 and a current ratio of 0.98. People’s United Financial, Inc. has a 1 year low of $15.97 and a 1 year high of $20.13. The company has a market capitalization of $6,149.43, a price-to-earnings ratio of 18.50, a P/E/G ratio of 9.02 and a beta of 0.85.

People’s United Financial (NASDAQ:PBCT) last issued its earnings results on Thursday, October 19th. The bank reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.01. People’s United Financial had a return on equity of 6.28% and a net margin of 19.32%. The company had revenue of $373.90 million during the quarter, compared to the consensus estimate of $374.59 million. During the same period in the previous year, the firm posted $0.24 earnings per share. People’s United Financial’s quarterly revenue was up 11.2% compared to the same quarter last year. equities analysts anticipate that People’s United Financial, Inc. will post 0.98 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be given a dividend of $0.1725 per share. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $0.69 annualized dividend and a dividend yield of 3.90%. People’s United Financial’s dividend payout ratio is presently 75.83%.

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Several research analysts have commented on PBCT shares. Zacks Investment Research lowered People’s United Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Piper Jaffray Companies reissued a “sell” rating and issued a $16.00 price objective on shares of People’s United Financial in a research report on Wednesday, October 4th. BidaskClub lowered People’s United Financial from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $19.00 target price on shares of People’s United Financial in a research report on Friday, August 18th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $19.08.

Several hedge funds and other institutional investors have recently modified their holdings of PBCT. BlackRock Inc. boosted its position in shares of People’s United Financial by 2,026.9% during 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. Janus Henderson Group PLC lifted its position in People’s United Financial by 9,587.6% in the second quarter. Janus Henderson Group PLC now owns 4,212,281 shares of the bank’s stock worth $74,389,000 after purchasing an additional 4,168,800 shares during the period. State Street Corp lifted its position in People’s United Financial by 6.2% in the second quarter. State Street Corp now owns 39,968,330 shares of the bank’s stock worth $705,843,000 after purchasing an additional 2,316,636 shares during the period. Vanguard Group Inc. lifted its position in 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 worth $615,409,000 after purchasing an additional 1,945,556 shares during the period. Finally, Janus Capital Management LLC lifted its position in People’s United Financial by 86.2% in the first quarter. Janus Capital Management LLC now owns 3,574,254 shares of the bank’s stock worth $65,051,000 after purchasing an additional 1,654,567 shares during the period. Institutional investors and hedge funds own 77.04% 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.

Insider Buying and Selling by Quarter for People`s United Financial (NASDAQ:PBCT)

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