Brokerages Anticipate People’s United Financial, Inc. (NASDAQ:PBCT) Will Announce Earnings of $0.33 Per Share

Equities analysts expect People’s United Financial, Inc. (NASDAQ:PBCT) to post earnings of $0.33 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for People’s United Financial’s earnings, with the lowest EPS estimate coming in at $0.31 and the highest estimate coming in at $0.34. People’s United Financial posted earnings of $0.36 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 8.3%. The firm is expected to issue its next earnings report on Thursday, January 16th.

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According to Zacks, analysts expect that People’s United Financial will report full year earnings of $1.35 per share for the current financial year, with EPS estimates ranging from $1.34 to $1.37. For the next year, analysts expect that the company will post earnings of $1.39 per share, with EPS estimates ranging from $1.31 to $1.50. Zacks’ earnings per share averages are an average based on a survey of research firms that follow People’s United Financial.

People’s United Financial (NASDAQ:PBCT) last released its quarterly earnings results on Thursday, October 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. People’s United Financial had a net margin of 23.32% and a return on equity of 8.17%. The firm had revenue of $462.00 million for the quarter, compared to the consensus estimate of $452.39 million. During the same quarter in the previous year, the firm posted $0.33 EPS. The firm’s quarterly revenue was up .1% on a year-over-year basis.

A number of research analysts have issued reports on PBCT shares. Stephens started coverage on shares of People’s United Financial in a research note on Tuesday, October 29th. They set an “equal weight” rating and a $16.00 target price for the company. Keefe, Bruyette & Woods lowered shares of People’s United Financial from an “outperform” rating to a “market perform” rating and set a $16.00 target price for the company. in a research note on Thursday, September 5th. Morgan Stanley reduced their target price on shares of People’s United Financial from $17.50 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Zacks Investment Research lowered shares of People’s United Financial from a “buy” rating to a “hold” rating and set a $18.00 target price for the company. in a research note on Tuesday, October 29th. Finally, BidaskClub raised shares of People’s United Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. People’s United Financial presently has an average rating of “Hold” and a consensus price target of $17.00.

In other news, CEO John P. Barnes sold 32,461 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $17.10, for a total value of $555,083.10. Following the completion of the sale, the chief executive officer now directly owns 131,382 shares of the company’s stock, valued at approximately $2,246,632.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP David K. Norton sold 238,350 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $16.65, for a total transaction of $3,968,527.50. Following the completion of the sale, the vice president now owns 290,491 shares in the company, valued at $4,836,675.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 329,665 shares of company stock valued at $8,946,819. Company insiders own 2.40% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. World Asset Management Inc raised its holdings in shares of People’s United Financial by 2.0% in the 2nd quarter. World Asset Management Inc now owns 33,301 shares of the bank’s stock worth $559,000 after purchasing an additional 642 shares in the last quarter. New Mexico Educational Retirement Board raised its holdings in shares of People’s United Financial by 2.2% in the 2nd quarter. New Mexico Educational Retirement Board now owns 32,188 shares of the bank’s stock worth $540,000 after purchasing an additional 700 shares in the last quarter. SeaCrest Wealth Management LLC raised its holdings in shares of People’s United Financial by 2.5% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 29,935 shares of the bank’s stock worth $468,000 after purchasing an additional 729 shares in the last quarter. Zeke Capital Advisors LLC raised its holdings in shares of People’s United Financial by 3.1% in the 2nd quarter. Zeke Capital Advisors LLC now owns 25,385 shares of the bank’s stock worth $426,000 after purchasing an additional 752 shares in the last quarter. Finally, Washington Trust Bank raised its holdings in shares of People’s United Financial by 4.2% in the 3rd quarter. Washington Trust Bank now owns 21,725 shares of the bank’s stock worth $340,000 after purchasing an additional 868 shares in the last quarter. Institutional investors and hedge funds own 76.58% of the company’s stock.

People’s United Financial stock traded up $0.04 during midday trading on Friday, hitting $16.96. 2,546,600 shares of the stock were exchanged, compared to its average volume of 3,737,375. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.98 and a quick ratio of 0.98. The company has a 50 day moving average price of $16.06 and a two-hundred day moving average price of $16.03. The firm has a market cap of $6.76 billion, a P/E ratio of 12.95, a P/E/G ratio of 6.31 and a beta of 1.26. People’s United Financial has a 1 year low of $13.66 and a 1 year high of $18.03.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend is Wednesday, October 30th. People’s United Financial’s dividend payout ratio is currently 54.20%.

People’s United Financial announced that its Board of Directors has authorized a share repurchase program on Thursday, July 18th that authorizes the company to repurchase 20,000,000 shares. This repurchase authorization authorizes the bank to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

People’s United Financial Company Profile

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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Earnings History and Estimates for People`s United Financial (NASDAQ:PBCT)

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