Wall Street analysts forecast that People’s United Financial, Inc. (NASDAQ:PBCT) will announce earnings of $0.35 per share for the current quarter, according to Zacks. Four analysts have issued estimates for People’s United Financial’s earnings. The highest EPS estimate is $0.39 and the lowest is $0.32. People’s United Financial reported earnings of $0.33 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 6.1%. The firm is scheduled to report its next quarterly earnings results on Thursday, October 17th.
On average, analysts expect that People’s United Financial will report full year earnings of $1.34 per share for the current year, with EPS estimates ranging from $1.31 to $1.37. For the next financial year, analysts expect that the business will post earnings of $1.41 per share, with EPS estimates ranging from $1.32 to $1.47. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow People’s United Financial.
People’s United Financial (NASDAQ:PBCT) last announced its quarterly earnings data on Thursday, July 18th. The bank reported $0.34 earnings per share for the quarter, meeting the consensus estimate of $0.34. People’s United Financial had a return on equity of 8.21% and a net margin of 23.51%. The business had revenue of $454.40 million during the quarter, compared to analyst estimates of $448.83 million. During the same period in the prior year, the company earned $0.32 earnings per share.
A number of equities analysts have recently commented on PBCT shares. BidaskClub lowered Zions Bancorporation NA from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 15th. Zacks Investment Research lowered GasLog Partners LP Unit from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 2nd. FIG Partners lowered People’s United Financial from an “outperform” rating to a “market perform” rating in a report on Monday, April 22nd. Finally, ValuEngine raised Vermillion from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $19.70.
In related news, insider Mark F. Herron sold 4,466 shares of People’s United Financial stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $17.36, for a total transaction of $77,529.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO R David Rosato sold 39,250 shares of People’s United Financial stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $16.20, for a total value of $635,850.00. Following the sale, the chief financial officer now directly owns 137,952 shares of the company’s stock, valued at approximately $2,234,822.40. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Knott David M purchased a new stake in People’s United Financial during the first quarter valued at about $25,000. CSat Investment Advisory L.P. raised its position in People’s United Financial by 64.0% during the fourth quarter. CSat Investment Advisory L.P. now owns 2,835 shares of the bank’s stock valued at $41,000 after purchasing an additional 1,106 shares in the last quarter. Huntington National Bank purchased a new stake in People’s United Financial during the first quarter valued at about $47,000. Parallel Advisors LLC raised its position in People’s United Financial by 125.9% during the first quarter. Parallel Advisors LLC now owns 2,955 shares of the bank’s stock valued at $49,000 after purchasing an additional 1,647 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. raised its position in People’s United Financial by 123.2% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 3,500 shares of the bank’s stock valued at $51,000 after purchasing an additional 1,932 shares in the last quarter. 75.83% of the stock is owned by institutional investors.
NASDAQ PBCT traded down $0.05 on Friday, hitting $16.19. 44,137 shares of the stock traded hands, compared to its average volume of 3,393,509. The stock’s fifty day simple moving average is $16.44. People’s United Financial has a 12 month low of $13.66 and a 12 month high of $19.00. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 6.01 and a beta of 1.22. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.96 and a quick ratio of 0.96.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be issued a $0.1775 dividend. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date is Wednesday, July 31st. People’s United Financial’s payout ratio is currently 54.20%.
People’s United Financial announced that its board has initiated a stock buyback plan on Thursday, July 18th that allows the company to buyback 20,000,000 shares. This buyback authorization allows the bank to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
About People’s United Financial
People's United Financial, Inc operates as the bank holding company for People's United Bank, National Association that provides commercial banking, retail banking, and wealth management services to individual, corporate, and municipal customers. The company operates in two segments, Commercial Banking and Retail Banking.
Recommended Story: What are the risks of holding treasury bonds?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for People's United Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for People's United Financial and related companies with MarketBeat.com's FREE daily email newsletter.