People's United Financial (PBCT) PT Raised to $20.00

People's United Financial (NASDAQ:PBCT) had its price target hoisted by Barclays from $18.00 to $20.00 in a research note released on Tuesday, January 2nd, Marketbeat Ratings reports. The firm currently has an underweight rating on the bank’s stock.

A number of other equities analysts also recently commented on PBCT. Zacks Investment Research upgraded People's United Financial from a hold rating to a buy rating and set a $21.00 price objective on the stock in a research report on Tuesday, October 24th. Piper Jaffray Companies reaffirmed a sell rating and issued a $17.00 price objective on shares of People's United Financial in a research note on Sunday, October 22nd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. People's United Financial currently has an average rating of Hold and an average target price of $19.04.

Shares of People's United Financial (NASDAQ:PBCT) traded up $0.18 during midday trading on Tuesday, hitting $19.25. The company had a trading volume of 2,180,700 shares, compared to its average volume of 2,460,943. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.72. People's United Financial has a 1 year low of $15.97 and a 1 year high of $19.85. The stock has a market cap of $6,670.00, a PE ratio of 21.15, a P/E/G ratio of 8.26 and a beta of 0.85.

People's United Financial (NASDAQ:PBCT) last announced its quarterly earnings data on Thursday, October 19th. The bank reported $0.26 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $373.90 million during the quarter, compared to analysts’ expectations of $374.59 million. During the same period last year, the business posted $0.24 earnings per share. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. analysts predict that People's United Financial will post 1 EPS for the current year.

In other People's United Financial news, CEO John P. Barnes sold 299,309 shares of the stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $18.88, for a total transaction of $5,650,953.92. Following the sale, 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 legal filing with the SEC, which is available through this link. Also, insider Sara M. Longobardi sold 43,450 shares of the firm’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $18.68, for a total value of $811,646.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 724,338 shares of company stock worth $13,796,084. Insiders own 2.70% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in PBCT. Schwab Charles Investment Management Inc. grew its stake in shares of People's United Financial by 10.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,548,127 shares of the bank’s stock valued at $27,340,000 after acquiring an additional 146,025 shares in the last quarter. State of Wisconsin Investment Board acquired a new stake in shares of People's United Financial during the second quarter valued at about $861,000. Comerica Bank grew its stake in shares of People's United Financial by 7.5% during the second quarter. Comerica Bank now owns 81,811 shares of the bank’s stock valued at $1,444,000 after acquiring an additional 5,678 shares in the last quarter. Federated Investors Inc. PA grew its stake in shares of People's United Financial by 0.8% during the second quarter. Federated Investors Inc. PA now owns 9,678 shares of the bank’s stock valued at $171,000 after acquiring an additional 80 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of People's United Financial by 15.2% during the second quarter. Victory Capital Management Inc. now owns 388,082 shares of the bank’s stock valued at $6,854,000 after acquiring an additional 51,254 shares in the last quarter. 75.52% of the stock is currently owned by institutional investors.

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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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