People’s United Financial, Inc. (NASDAQ:PBCT) President Jeffrey J. Tengel sold 90,689 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $16.30, for a total transaction of $1,478,230.70. Following the sale, the president now directly owns 154,592 shares of the company’s stock, valued at $2,519,849.60. The sale was disclosed in a document filed with the SEC, which is available through this link.
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NASDAQ:PBCT opened at $16.15 on Wednesday. The stock has a market capitalization of $6.59 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 6.12 and a beta of 1.26. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.56. The firm has a 50 day moving average of $16.51 and a 200 day moving average of $15.95. People’s United Financial, Inc. has a 52 week low of $13.66 and a 52 week high of $18.03.
People’s United Financial (NASDAQ:PBCT) last released its quarterly earnings data on Thursday, October 17th. The bank reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. The business had revenue of $462.00 million for the quarter, compared to the consensus estimate of $452.39 million. People’s United Financial had a net margin of 23.32% and a return on equity of 8.17%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 EPS. As a group, analysts expect that People’s United Financial, Inc. will post 1.35 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were given a dividend of $0.177 per share. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $0.71 dividend on an annualized basis and a yield of 4.38%. People’s United Financial’s dividend payout ratio is currently 54.20%.
Several brokerages have recently issued reports on PBCT. BidaskClub cut shares of People’s United Financial from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Morgan Stanley dropped their price target 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. Raymond James assumed coverage on People’s United Financial in a research note on Tuesday, November 26th. They set a “market perform” rating on the stock. Keefe, Bruyette & Woods downgraded People’s United Financial from an “outperform” rating to a “market perform” rating and set a $16.00 price objective on the stock. in a research report on Thursday, September 5th. Finally, DA Davidson reaffirmed a “buy” rating on shares of People’s United Financial in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $17.00.
A number of institutional investors have recently added to or reduced their stakes in PBCT. Invesco Ltd. lifted its holdings in People’s United Financial by 10.5% during the second quarter. Invesco Ltd. now owns 16,011,946 shares of the bank’s stock valued at $268,681,000 after purchasing an additional 1,515,333 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of People’s United Financial in the second quarter valued at about $17,994,000. Morgan Stanley lifted its stake in shares of People’s United Financial by 36.6% in the second quarter. Morgan Stanley now owns 2,350,911 shares of the bank’s stock worth $39,448,000 after buying an additional 629,471 shares in the last quarter. First Trust Advisors LP lifted its position in People’s United Financial by 19.0% during the third quarter. First Trust Advisors LP now owns 3,599,066 shares of the bank’s stock worth $56,271,000 after buying an additional 575,026 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in People’s United Financial by 230.0% in the 2nd quarter. SG Americas Securities LLC now owns 743,422 shares of the bank’s stock valued at $12,475,000 after buying an additional 518,170 shares in the last quarter. 75.83% of the stock is currently owned by hedge funds and other institutional investors.
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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