People’s United Financial, Inc. (NASDAQ:PBCT)’s share price gapped down prior to trading on Friday . The stock had previously closed at $11.48, but opened at $11.24. People’s United Financial shares last traded at $10.79, with a volume of 13,710,069 shares.
PBCT has been the subject of a number of recent research reports. BidaskClub cut People’s United Financial from a “sell” rating to a “strong sell” rating in a report on Thursday, June 25th. Morgan Stanley raised their price target on People’s United Financial from $13.50 to $14.00 and gave the stock an “equal weight” rating in a research note on Monday, June 8th. UBS Group decreased their price target on People’s United Financial from $9.50 to $9.00 and set a “neutral” rating for the company in a research note on Friday, May 15th. Zacks Investment Research lowered People’s United Financial from a “hold” rating to a “sell” rating and set a $13.00 price target for the company. in a research note on Tuesday, April 28th. Finally, Compass Point initiated coverage on People’s United Financial in a research note on Tuesday, April 14th. They set a “neutral” rating for the company. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $13.44.
The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.31. The stock has a 50-day simple moving average of $11.55 and a two-hundred day simple moving average of $12.86. The firm has a market capitalization of $4.58 billion, a P/E ratio of 8.43 and a beta of 1.29.
People’s United Financial (NASDAQ:PBCT) last issued its earnings results on Thursday, July 23rd. The bank reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.02. The business had revenue of $495.20 million during the quarter, compared to analyst estimates of $495.87 million. People’s United Financial had a return on equity of 7.39% and a net margin of 20.81%. During the same period in the previous year, the company posted $0.34 EPS. As a group, research analysts expect that People’s United Financial, Inc. will post 1.13 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, August 15th. Stockholders of record on Monday, August 3rd will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 6.67%. The ex-dividend date of this dividend is Friday, July 31st. People’s United Financial’s payout ratio is 51.80%.
In other news, EVP David P. Berey sold 12,978 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $12.03, for a total value of $156,125.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.20% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Comerica Bank raised its position in shares of People’s United Financial by 3.6% in the 2nd quarter. Comerica Bank now owns 122,537 shares of the bank’s stock worth $1,418,000 after acquiring an additional 4,253 shares in the last quarter. Sigma Planning Corp grew its stake in People’s United Financial by 13.5% during the 2nd quarter. Sigma Planning Corp now owns 19,339 shares of the bank’s stock worth $224,000 after buying an additional 2,293 shares during the last quarter. Prudential PLC grew its stake in People’s United Financial by 33.9% during the 2nd quarter. Prudential PLC now owns 7,423,101 shares of the bank’s stock worth $85,885,000 after buying an additional 1,880,800 shares during the last quarter. Botty Investors LLC grew its stake in People’s United Financial by 51.7% during the 2nd quarter. Botty Investors LLC now owns 48,825 shares of the bank’s stock worth $565,000 after buying an additional 16,645 shares during the last quarter. Finally, UBS Group AG grew its stake in People’s United Financial by 66.8% during the 2nd quarter. UBS Group AG now owns 632,254 shares of the bank’s stock worth $7,315,000 after buying an additional 253,254 shares during the last quarter. 75.25% of the stock is owned by hedge funds and other institutional investors.
People’s United Financial Company Profile (NASDAQ:PBCT)
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.
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